Live Nation sees 09 attendance comparable to 08

NEW YORK (Reuters) - Live Nation Inc, the world's largest concert promoter, expects fan attendance and spending to be flat in 2009 compared to this year due to the weak U.S. economy, its chief executive said on Thursday.

CEO Michael Rapino told the Reuters Media Summit that he does not see growth next year to match 2008, when he expects attendance to rise more than 10 percent by year-end.

"We expect next year to hold its own," he said. "I'm not going to predict a boom."

He said 2008 consumer spending would be equal to or up slightly from last year, and the number of bands on tour to rise.

"We're not going out there saying we will grow the business next year," Rapino added. "If we can get through the economic crisis on a flat comparable basis on inventory that would be an incredible win."

Current ticket sales for concerts in early 2009 remain unaffected by the recession and in some cases are up year-over-year, he said. The next big test will be in April, when summer concert tickets go on sale.

Rapino said he did not think artists will raise ticket prices, which average $49 per show.

Live Nation, which ends its long-running partnership with Ticketmaster in January, has started to move into the ticketing business. Live Nation buys about 20,000 shows a year from about 1,500 artists.