Live Nation
Netflix Taps Chris Rock, Matt Rife and, Yes, Tom Brady for Its Second Comedy Fest
Netflix is eager to laugh again — and flex its dominance in the stand-up arena. The streamer has formally announced a second installment of its Netflix is a Joke Fest, which will be held May 2 to 12, with more than 300 shows across 35-plus Los Angeles venues. The multi-day event quickly became the biggest […]
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Live Nation Says Record 140M Tickets Were Sold So Far This Year
Live Nation reported its biggest quarter ever, with revenue up 32 percent year-over-year and a record number of tickets sold year-to-date. In the third quarter, which is typically the strongest quarter of the year, the company reported revenue of $8.2 billion and operating income of $619 million, up 22 percent compared to last year. Live […]
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Kamala Harris to Honor 50th Anniversary of Hip-Hop With Event at Her D.C. Residence
Vice President Kamala Harris is throwing a house party to celebrate the 50th anniversary of hip-hop. Harris is partnering with the Recording Academy’s Black Music Collective and Live Nation Urban for the event taking place Saturday at her residence in Washington, D.C. Dozens of artists will participate, including Common, MC Lyte, Jeezy and Roxanne Shante. […]
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Live Nation Exec Says the “Fundamental” Business Model Is Not Being Questioned in DOJ Investigation
Live Nation president and CFO Joe Berchtold provided an update on the Department of Justice’s investigation into the company and its affiliated ticketing service, Ticketmaster, saying that he believes the DOJ is investigating certain business practices at the company, rather than the merged company itself. “Our fundamental business model is not really being questioned,” Berchtold […]
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Live Nation Antitrust Investigation Sparks Investor Class Action Lawsuit
Several law firms are investigating whether Live Nation lied to investors by failing to disclose the scope of its legal vulnerability for allegedly abusing its power in the live music industry. New York-based firm Bernstein Liebhard sent out a notice on Tuesday soliciting investors to join a lawsuit that was filed last week against Live […]
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Live Nation Revenue Soars Amid Strong Concert Demand This Year
Live Nation reported its strongest second quarter ever, as concert demand continues to propel its results. The company, which also owns Ticketmaster, reported revenue of $5.6 billion for its second quarter, up 27 percent from the $4.4 billion reported a year ago. Operating income reached $386.4 million, up from $319 million a year ago, while […]
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Ticketmaster, SeatGeek Commit to All-In Pricing After “Junk Fees” Criticism
Live Nation and its ticket selling arm Ticketmaster made commitments Thursday to show customers the full price of tickets, including fees, up front. This announcement came as President Biden invited private sector companies to the White House Thursday, following his calls for federal agencies, Congress and private companies to cut down on junk fees. SeatGeek, […]
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Live Nation First-Quarter Revenue Climbs as Concert Demand Rises
Demand for concerts continues rising and bolstering the revenue of ticket seller and concert promoter and operator Live Nation. The company reported total first-quarter revenue of $3.1 billion, up from $1.8 billion a year earlier and above analyst expectations. Concerts brought in $2.3 billion of that revenue, up from $1.2 billion, while ticketing increased to […]
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Live Nation CEO Michael Rapino’s Total Pay Jumps to $139M in 2022
Live Nation CEO Michael Rapino’s total compensation package rose to $139 million in 2022, up from $13.8 million the previous year. Rapino’s compensation included a base salary of $3 million, up from $2.6 million in 2021 (which came as Rapino agreed to take a pay reduction during the pandemic). Live Nation entered into a new […]
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Live Nation Adds Rich Paul to Board of Directors
Live Nation is adding Klutch Sports Group founder and UTA’s head of sports Rich Paul to its board of directors. The live events promoter and Ticketmaster owner announced Paul’s appointment Thursday afternoon. He joins a number of high-profile media execs on the board, including Disney’s Dana Walden, SpringHill co-founder Maverick Carter, and music icon Jimmy […]
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Live Nation President Says DOJ Investigation Could Have “Chilling Impact” on Settlements
Live Nation president and CFO Joe Berchtold indirectly acknowledged that the company is undergoing an investigation by the Department of Justice. In an interview at a Morgan Stanley investor conference Wednesday, Berchtold was asked to share any commentary about the substance or process of the DOJ investigation. The New York Times had first reported that […]
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Live Nation Quarterly Revenues Soar Amid Ticketmaster Scrutiny
Live Nation continues to see fans flock to its concerts and events, as overall fourth quarter revenues rose 59 percent to $4.29 billion. The Ticketmaster and Roc Nation owner posted a fourth quarter operating loss of $119.9 million, compared to a year-earlier operating loss of $124.5 million. For full year 2022, Live Nation reported more […]
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