Live Event Stocks Soar After Positive COVID Vaccine News
The path back to full-scale live events across the globe got a big boost Monday from Pfizer. The pharmaceutical giant announced that early results from its coronavirus vaccine trial suggested that it is robustly effective in preventing the COVID-19 disease. It hopes to receive emergency authorization for the two-dose... Read more
Live Nation Reports Revenue Down 98% in Q2 Earnings Report
With live events at a virtual standstill, it came as no surprise that Live Nation Entertainment wouldn’t have much good news for shareholders when it released its earnings report. The industry leader put as much positive spin on the numbers as could be managed, focusing on its expectation that... Read more
Live Nation Adjusts Financial Forecast, Cuts Costs And Taps Credit To Survive
Live Nation is taking drastic new measures to recover from the business turmoil it’s been engulfed in due to the ongoing pandemic. The entertainment giant is overhauling much of its standard practices and implementing pay cuts, amending its existing credit agreement and adjusting its financial forecast. CEO Michael Rapino... Read more
Mark Cuban Takes Interest In Live Nation Investment As Stock Plummets
Billionaire Mark Cuban is looking to invest amid a tumultuous period that has seen the market take a drastic tumble. He has taken a particularly surprising interest in Live Nation stock despite its sudden free-fall in response to the coronavirus disrupting the live event industry. The investor revealed to... Read more
Live Nation a Monopoly? “Very Smart Assessment” Per CEO (in 2015)
In the wake of Sunday’s bombshell piece on A1 of the New York Times outlining potentially anti-competitive practices in place by industry giant Live Nation Entertainment and subsidiary Ticketmaster – and the potential that they are being examined by the Department of Justice – a response was inevitable. It... Read more
Live Nation (LYV) CEO Michael Rapino Liquidating His Company Stock
According to paperwork filed with the Securities and Exchange Commission, Live Nation (NYSE: LYV) CEO Michael Rapino is liquidating large amounts of his stock in the entertainment giant. Beginning on November 15, the executive sold 70,000 shares of his common stock holdings on each of the following three days... Read more
Opinion: Q3 Earnings May Explain StubHub’s Bullying Moves in Secondary
StubHub, owned by eBay (NASDAQ: EBAY) has been throwing its weight around a bit as of late against competition in the secondary marketplace. Recent news related to the publicly-traded company’s earnings – particularly compared against primary giant (and secondary competitor) Live Nation (NASDAQ: LYV) – may offer some insight... Read more
Live Nation (NYSE: LYV) Rides Secondary Market to Big Growth
As predicted, Live Nation (NYSE: LYV) showed a big growth driven in large part by the secondary market when it released its financial results for the second quarter on Wednesday evening. Overall, revenue was up 29%, operating income up 53%, and adjusted operating income (AOI) up 22%. These growth... Read more