Live Nation Reports $300M Q1 Loss As Reopening Continues
For Live Nation (NYSE:LYV), things are looking up as the United States continues to loosen the restrictions on live event attendance – but earnings have still continued to take a beating in the early months of 2021 according to its Q1 earnings report, issued this week. Revenue numbers were... Read more
Live Nation Revenue Down 95 Percent in Q3 Earnings Report
Continued revenue struggles and cash burn continued for Live Nation over the third quarter of 2020, according to earnings figures released this week. The company showed revenue down by 95 percent compared to the same time period last year, which was expected amid the continued shutdown of much of... Read more
Live Nation Pledges $10 Million Investment to Broaden Diversity
Live Nation CEO Michael Rapino posted an open letter addressing issues of racism and discrimination in society, pledging that his company is “committing to take steps to ensure that everyone in our community – employees, artists, and fans – is valued, respected, and treated equitably.” Among those steps is... Read more
Founder Of Live Nation’s Maverick Steps Down From Role
Live Nation’s artist management collective Maverick will see its founder Guy Oseary step down from his role. Maverick, which was founded by Madonna, Frederick DeMann, and Veronica “Ronnie” Dashev in 1992, was revised as a management group founded by Oseary in partnership with Live Nation in 2014. The company... Read more
Live Nation Raises $1.2B To Survive Industry Crisis
The entertainment industry has been hit hard amid the coronavirus pandemic, and to stay afloat, promoter giant Live Nation announced that it would boost liquidity during the concert shutdown. On Wednesday, the entertainment behemoth revealed that the company intended to secure $800 million in senior date, via a secured... Read more
Live Nation Acquisition of Mexican Promoter Halted
Late last summer, Live Nation acquired the Mexican promoter OCESA Entertainment, however, the purchase has been put on hold amid the coronavirus pandemic. The acquisition was first announced in July, followed by an approval from Mexican regulators in mid-April 2020. However, Live Nation President and CEO Michael Rapino announced... Read more
Live Nation Reveals Ticket Refund Plan For Postponed, Cancelled Shows
Following harsh backlash from fans, Live Nation updated its ticket-refund policies for cancelled or postponed events amid the coronavirus pandemic. Originally, the company – along with its subsidiary Ticketmaster – said it would only refund ticketholders for events that were cancelled or rescheduled, not postponed, within a 30-day window.... Read more
Don Vaccaro: Working Together to Weather the Covid Crisis
When things go bad, people like to look for a villain. Ticketing professionals are competitors in a very competitive marketplace. Most people know of my opposition to a lot of Live Nation policies, because I am very vocal about it. However, we should give them credit for their integrity... Read more
Live Nation Launches Fund For Impacted Concert Crews
While artists are suffering during cancelled or postponed shows, several people behind the scenes are also struggling during this trying time. To help support concert crews across the world, Live Nation started a charitable fund this week. The Crew Nation fund has been created to provide monetary relief for... Read more
Live Nation CEO Buys $1 Million In Shares After Price Falls
Live Nation CEO and President Michael Rapino reportedly purchased $1 million worth of stock in the company, according to a recent filing with the Securities and Exchange Commission, Billboard reports. The filing shows that Rapino bought 25,640 shares of common stock at an average of $38.98 per share, which... Read more