TicketMaster, a division of Internet conglomerate IAC/InterActiveCorp., announced Tuesday that revenue climbed 3 percent in the second quarter to $303 million from $295 million thanks to a slight rise in worldwide ticket volume. However, domestic revenue fell 5 percent due to lower volumes of concert ticket sales from big-name artists.
"While we expected this quarter to be difficult, we did not anticipate the softness in domestic ticketing volumes which impacted Ticketmaster," Barry Diller, the media entrepreneur who heads the conglomerate, said in a statement. "We are not satisfied with these results - whether driven by market conditions or our own hand."
The global leader in ticket sales, based in West Hollywood faces an uncertain future because 15 to 20 percent of its business stems from an agreement it has with Live Nation. Industry analysts have speculated that the contract may not be renewed next year.
Ticketmaster is owned by which also owns the Home Shopping Network, LendingTree.com, search engine Ask.com and dating website Match.com as well as more than 60 other brands.
New York-based IAC's net income rose 78 percent overall to $96 million (32 cents per share), boosted by the sale of its Home Shopping Europe channel. Shares in IAC closed down $1.62, or 5.3 percent, Tuesday in trading on the Nasdaq.
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