You will be redirected back to your article in seconds

SFX revs see uptick

Net loss doubles to $17.6 mil

NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months.

Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone on an acquisition binge to snap up live entertainment venues around the country. The company now claims 82 venues, including 16 amphitheaters in the top 10 markets.

As a result, cash flow — earnings before interest, taxes, depreciation and amortization — jumped to $22.8 million from $1.8 million in the first quarter of last year.

But interest costs trebled to $18.8 million, reflecting the higher debt load taken on to pay for many of the acquisitions. As a result, the bottom line loss increased sharply.

Adjusting for the timing of acquisitions, Sillerman said revenue rose 14% to $290.1 million.

More Biz

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

  • Ken Ziffren and Claudia EllerVariety Power

    Attorney Ken Ziffren Offers Sobering Take on Film Business at Variety's Power of Law Breakfast

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    NEW YORK — SFX Entertainment’s net loss doubled to $17.6 million in the first quarter, SFX said Wednesday, despite sharply higher revenues flowing from the company’s spate of acquisitions in recent months. Since being spun out of radio group SFX when that company was acquired by Capstar Broadcasting, SFX Entertainment chairman Robert Sillerman has gone […]

More From Our Brands

Access exclusive content