Live Nation Entertainment
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 […]
- By
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 […]
- By
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 […]
- By
Live Nation Gets Win in Antitrust Fight Against Ticket Purchasers
Live Nation — fighting legal battles on multiple fronts amid renewed scrutiny of its 2010 merger with Ticketmaster stemming from the company’s botched sale of tickets to Taylor Swift’s latest tour — has won a skirmish in an antitrust suit from consumers with a federal appeals court ruling that the case belongs in arbitration rather […]
- By
Ticketmaster Faces Next Big Test With Beyoncé Renaissance Tour
Ticketmaster is back in the spotlight, as tickets for Beyoncé’s upcoming Renaissance tour go on sale on the platform in the coming days. This will be a big test for the ticketing giant, following the long wait times and technical glitches the site experienced during presales for Taylor Swift’s tour in November. The issues sparked […]
- By
Senate Panel to Hold Hearing on Concert Ticket Sales Following Taylor Swift Eras Tour Fiasco
Taylor Swift’s Eras tour fiasco at Ticketmaster in November may have shined a light on a larger issue. A Senate antitrust and consumer rights subcommittee says it will be holding a hearing — on a date to be determined — on concert ticket sales following the debacle. U.S. Senators Amy Klobuchar (D-MN) and Mike Lee […]
- By
Taylor Swift Tickets Breakdown Probed by Attorneys General
The breakdown in Ticketmaster’s sales of Taylor Swift tickets is a mess some attorneys general aren’t shaking off. With fans sharing outrage and heartache over the fruitless hours they spent trying for seats for Swift’s upcoming concert tour, top legal chiefs in Nevada, Tennessee and Pennsylvania have launched investigations into the fiasco. “Trouble, trouble, trouble,” […]
- By
Taylor Swift on Ticketmaster Tech Issues: “We Were Assured” They Could Handle the Demand
Taylor Swift is speaking out against Ticketmaster after fans experienced problems buying tickets to her upcoming Eras tour. Ticketmaster experienced errors and site slowdowns on Tuesday during its Taylor Swift presale for verified fans. The site sold 2 million tickets during the presale, a record for a single artist in a day, but continued to […]
- By
Live Nation: More Than 44M Fans Attended Concerts and Events, Topping Quarterly Record
Live Nation Entertainment just had its biggest summer concert season in history. The company’s concert business reported its highest quarterly attendance to date, in the three months ended Sept. 30, with more than 44 million fans attending 11,000 events. Total revenue for the quarter hit $6.2 billion, with more than $5 billion of that coming […]
- By
Live Nation CEO Michael Rapino Inks Rich New 5-Year Contract Extension
Live Nation CEO Michael Rapino has inked a new five-year contract extension with the live events giant and owner of Ticketmaster and Roc Nation, keeping him at the helm of the company through the end of 2027. The deal includes a significant increase in compensation for Rapino, with an annual target payday of $30 million […]
- By
Live Nation Revenue Soars As Concert Ticket Sales Recover
Live Nation said it experienced its “best first quarter ever,” driven by strong buying trends at Ticketmaster. In the three months ended March 31, Ticketmaster recorded its second highest gross transaction volume, excluding refunds, in the company’s history, with an estimated 111,292 tickets sold. The segment added seven million net new tickets in the quarter. […]
- By
Live Nation Accused of Shutting Out Venues That Don’t Use Ticketmaster
Ticketmaster and parent company Live Nation Entertainment are again being accused of violating antitrust laws by monopolizing ticket sales. This time, a group of plaintiffs from California, Ohio and Florida has filed a putative nationwide class action accusing the companies of coercing venues into boycotting competing ticketing platforms and deploying unconscionable arbitration agreements. Pointing to […]
- By