What was that talk about how places like LA Live will do just fine during the downturn because everyone will still spend on entertainment? "Shares of concert promoter Live Nation Inc. dropped 27 percent Wednesday after two analysts downgraded them, saying the poor economy will reduce ticket sales in the coming year. Jim Boyle at CL King & Associates said in a note to investors that consumers are likely to be more cautious with their entertainment dollars, and that will affect attendance at Beverly Hills-based Live Nation concerts and other events around the country." In addition to LA Live's Club Nokia, it'll be interesting to see how other new venues like the Palladium fare. [LABJ]
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