Live Nation Entertainment has posted a strong Q2 with a solid 40% increase in revenue to hit $4.4bn (£3.62bn/€4.3bn) compared to $575m in Q2 last year. Concerts revenue amounted to $3.5bn while ticketing brought in $575m. Sponsorship and advertising brought in $263.8m while other eliminations amounted to a loss of $2.7m bringing the total to …
UK Government faces fresh calls to reduce VAT
There have been fresh calls for UK Chancellor Rishi Sunak to reduce VAT to 12.5% to help businesses in the live entertainment and night time sectors. Michael Kill, chief executive of the Night Time Industries Association (NTIA), has said that time is running out for the UK Government and the Chancellor to help with inflation …
South Australian Government boosts live music with range of initiatives
The South Australian Government has dedicated A$10m (£5.7m/€6.6m/$7m) to live music support through the See It LIVE Package. Support will be made available for live music, hospitality venues, promoters and more during 2022 and 2023. The package aims to support a whole calendar of live gigs and festivals, to make sure audiences can enjoy live …
CTS Eventim sees boost from reopening of core markets
The rebound of core markets for CTS Eventim has resulted in its ticketing and live entertainment segments posting a significant increase in revenue in the first quarter of 2022. Revenue for the first quarter came in at €139.2m (£119m/$149m) compared to €19.6m in the same period for the year prior. Earnings before interest, taxes, depreciation …
Eventbrite Q1 revenue improves thanks to increased paid ticket volumes
Event management and ticketing company Eventbrite has said its net revenue for the first quarter of 2022 increased by 101% year-on-year. Net revenue for the first quarter ending March 31 2022 amounted to $55.9m (£44.5m/€53m) compared to $27.8m for the Covid-hit same period the year prior. Gross profit equalled $35.9m compared to $14.1m in the …
Pollen raises $150m in Series C funding
Travel and entertainment technology company Pollen has raised $150m (€140m/£118m) in a Series C funding round. Pollen was founded in 2014 and curates and delivers experiences across the globe, using data and customer insights. It was founded by two brothers, Callum and Liam Negus-Fancey, who use the data to create experiences exclusive to Pollen, as …
Live Nation Entertainment’s Michael Rapino sells $88m worth of shares
Live Nation Entertainment (LNE) chief executive Michael Rapino sold 78,000 shares of the company’s stock in a transaction on Friday, April 22. According to a United States Securities and Exchange Commission Statement of Changes in Beneficial Ownership, shares sold for an average price of $106.41 (£84/€99) with all sales amounting to $8.3m. Rapino now owns …
Secret Sounds-promoted tour set to donate 100% of ticket sales to music charity
The Jack Daniel’s Live At Last Tour kicked off yesterday (Tuesday) on the Sunshine Coast, Australia, with 100% of ticket sales from the event going towards music industry charity, Support Act. Promoted by Secret Sounds, the series of shows will take place at various venues across Australia throughout April, including Sunshine Coast’s SolBar, Factory Theatre …
Backstage: Kasabian, Lorde and more…
A round-up of the latest live music news… English band Kasabian has announced a series of European tour dates for later this year. They will perform shows in Belgium, Germany, the Netherlands and France. Tickets will go on sale for the European shows on April 14. Ohana Festival is set to take place between September …
Singapore Grand Prix to return after two years, tix on sale from tomorrow
Singapore’s famous night race will return this season for the first time in two years, with tickets going on sale for the Formula 1 grand prix from tomorrow (Wednesday). In January, race promoter Singapore GP signed a multi-year deal to keep F1 coming to the city-state until 2028. This year’s race will be held September …