Livenation - Tumblr Posts
Live Nation Entertainment has acquired Setlist.fm, a community of music fans who collect and share concert set lists online.
Billboard found something else that Irving Azoff, executive chairman of Live Nation, can sit atop: In the January 28 issue of the magazine, Billboard unveils the Power 100, a ranking of the most powerful people in the music business.
Clear Channel/Live Nation Monopoly Case Nearing Dismissal
An anti-competition case dating back a decade may have finally concluded with a 63-page decision that Clear Channel/Live Nation does not have a monopoly on rock concerts. On Monday the judge in the case granted summary judgment on motions regarding the Denver and Los Angeles markets and granted the defendant's motion to dismiss the testimony of Dr. Owen R. Phillips.
Continue Reading
With a lineup of tours that touches on virtually every genre and musical scene, Live Nation, the world's largest promoter and amphitheater operator, seems to be on a path to continue the rebound of 2011, after suffering the brunt of an overall industry downturn in 2010. "We talked a year ago about what we were going to try to accomplish in terms of getting the train back on the track and staying true to good pricing and good packaging, and it turns out that last year was a good recovery year for us," Mark Campana, Live Nation's co-president of North American Concerts with Bob Roux. "This year we're continuing on that same trajectory. Probably the brightest star on the horizon right now is ticket sales, and how they're outpacing last year. We're outpacing last year by about 25% at this point."
Continue Reading
Live Nation grew revenue 8.1% to $5.8 billion and adjusted operating income rose 4.8% to $459 million in 2012. It achieved its goals of growing concert attendance, ticket sales and sponsorship and advertising revenue. Yet its financial statements, released Tuesday afternoon, showed more red ink. Live Nation's 2012 net loss nearly doubled to $163 million from $83 million in 2011 due to a one-time charge from Irving Azoff's December 31st departure from the company.
Shares of Live Nation closed down 1.9% to $10.12 and were down 0.7% in after-hours trading late Tuesday afternoon. The company's 52-week high is $10.76. Revenue in the concerts division grew 10.4% to $3.87 billion but brought in only $31.4 million in adjusted operating income. The number of North American concerts was down 3.7% to 14,962 while the number of International concerts was up 4.1% to 7,000. North American attendance was up 3% to 32 million while International attendance was up 6.4% to 16.8 million. The concert division's festival attendance was approximately 3.5 million, a 30% increase over 2011. EDM festival attendance doubled to 1.4 million attendees.
Ticketmaster revenue grew 4.1% to $1.37 billion while adjusted operating income grew 5.6% to $294.6 million, or 64.2% of the company's total adjusted operating income. The gross value of tickets sold by Ticketmaster increased 8.4% to $9.1 billion and the number of tickets sold increased 4.5% to 147.7 million. The Sponsorships & Advertising division grew revenue 7.4% to $247.9 million and raised its adjusted operating income 6.4% to $175.6 million, or 38.2% of the company's total adjusted operating income.
Continue Reading