Live Nation Touts More Record-Breaking Revenue in Q2 Earnings
Business is booming for Live Nation Entertainment, which reported another record quarter on Thursday with its Q2 2022 earnings report. The entertainment giant reported operating income to be up by 86 percent compared to the same quarter in 2019, reaching $319 million as live events continued to roll on... Read more
Live Nation Venues Grabbed Millions in Independent Venue Pandemic Aid
A number of venues and affiliates received millions of dollars in pandemic relief intended to keep independent venues alive during the pandemic, according to reporting by the Washington Post analyzing Small Business Administration records. Nearly $19 million in aid was taken in by companies that are either direct subsidiaries... Read more
Price Surging Leads Live Nation to Best First Quarter Ever
The reopening from pandemic restrictions continues to power record-setting numbers for Live Nation Entertainment, according to the company’s Q1 earnings report issued this week. Ticketmaster saw its gross ticket value transactions number up 39% compared to 2019, with 70 million tickets sold already for 2022 concerts. “Momentum has picked... Read more
Live Nation CEO Michael Rapino Sells $150 Million in Company Stock
Live Nation Entertainment CEO Michael Rapino cashed out over $150 million worth of company stock in a series of trades over the past month, according to SEC reporting. The stock had been acquired through the exercise of options he had received back in 2012 that were set to expire... Read more
Live Nation Expands to Philippines by Buying its Leading Promoter
Live Nation has expanded its promotional reach in Asia/Pacific, launching Live Nation Philippines by purchasing and re-branding Music Management International (MMI). MMI, founded 30 years ago, was the leading promoter in the country, which has a population of approximately 109 million including the densely populated Manila/Quezon City metropolitan area... Read more
Astroworld Task Force Findings Show Poor Training Among Event Failures
Poor planning, poor security training, and failures in communication were cited by Texas officials in a report on the Astroworld tragedy last fall that caused the death of ten festivalgoers and injuries to hundreds more. The Texas Task Force on Concert Safety was put together by Gov. Greg Abbott... Read more
National Consumers League Calls for Anti-Trust Inquiry of Live Nation
The National Consumers League has written a letter indicating its support for the Department of Justice to investigate Live Nation Entertainment and marketplace competition in the live entertainment business. The letter comes on the heels of a similar letter sent by U.S. Senators Amy Klobuchar (D-MN) and Richard Blumenthal... Read more
Verizon, Live Nation Announce 5G Coverage and Ticket Presale Linkup
Verizon and Live Nation Entertainment announced a new partnership program Monday, bringing 5G technology to concert venues while setting aside blocks of tickets for presales open to Verizon customers. The deal will equip several Live Nation venues, while opening a “first access” presale program for more than 100 million... Read more
Rep. Pascrell Asks FTC, DOJ to Overturn Live Nation-Ticketmaster Merger
Rep. Bill Pascrell has written a letter to the Federal Trade Commission and the Department of Justice requesting that the agencies target the Live Nation-Ticketmaster merger as part of a joint inquiry designed at modernizing merger regulations. The New Jersey Democrat, who has been a staunch critic of the... Read more
U.S. Senators Urge DOJ to Probe “Near-Monopoly” of Live Nation
U.S. Senators Richard Blumenthal (D-CT) and Amy Klobuchar (D-MN) are urging the Department of Justice to investigate Live Nation’s “near-monopoly” in the live event ticket market. The Senators addressed their request in a letter to Jonathan Kanter, and Assistant Attorney General in the DOJ’s Antitrust Division. Their request centers... Read more