Live Nation said its loss shrank in the first three months of the year as the concert promoter boosted sales of tickets to concerts and sporting events through apparent price cuts.

Live Nation Entertainment Inc. said yesterday that its net loss narrowed to $48.5 million, or 27 cents per share, from a $122 million loss, or 83 cents per share, a year ago, as revenue rose 17 percent to $849 million from $723 million.

Concert ticket sales volumes were up 13 percent while revenue increased 10 percent.