Live Nation Entertainment has witnessed its revenue soar by 44% to $16.7bn (£13.9bn/€15.8bn) in 2022 compared to pre-pandemic revenue in 2019. The entertainment giant brought in $13.5bn for concerts in 2022 compared to $4.7bn in 2021, and $2.2bn for ticketing last year compared to $1.1bn during the year prior. Sponsorship and advertising amounted to $968m …
US appeals court rejects Live Nation antitrust lawsuit
Entertainment giant Live Nation has avoided an antitrust lawsuit accusing it and Ticketmaster of exploiting its market power, and forcing inflated prices on fans. The US Court of Appeals for the Ninth Circuit yesterday (Monday) upheld a previous ruling and rejected a class-action lawsuit, as fans and concertgoers forfeited their right to sue when purchasing …
Bruce Springsteen fanzine to quit after 43 years due to ticket prices
A Bruce Springsteen fanzine is set to close after 43 years, naming ticket prices as one of the reasons for its demise. Christopher Phillips, publisher and editor-in-chief of Backstreets magazine, which is dedicated to Springsteen and the E Street Band, said that the publication had “reached the end of the road”. Phillips started at the …
SeatGeek allegedly dropped by Barclays Center because of tech issues according to report
SeatGeek was allegedly dropped by Barclays Center and owner BSE Global because of issues with its tech, according to a report from Billboard. Dave Brooks reported that Barclays Center and BSE Global chief executive Sam Zussman arranged a meeting with SeatGeek and offered an ultimatum – terminate the seven-year contract signed with Zussman’s predecessor John …
US lawmakers and stakeholders lambast Live Nation-Ticketmaster
Live Nation Entertainment president and chief financial officer Joe Berchtold was backed into a corner by sharp criticism of the concert promoter and its subsidiary Ticketmaster from all quarters during a Senate Judiciary Committee hearing in Washington, DC yesterday. Lawmakers and representatives of a rival operator, promoter, think tank and band lined up to pillory …
Live Nation Entertainment closes $1bn convertible senior notes
Live Nation Entertainment has completed its previously announced of $1bn (£800m/€900m) in aggregate principle amount of 3.125% convertible senior notes due 2029. The offering size was increased from the original offering size of $850m in response to investor demand and after full exercise of the ‘greenshoe’ option. Proceeds from the transaction will be used to …
Live Nation increases convertible note offering to $900m
Live Nation Entertainment has increased its offering to $900m (£740m/€834m) in aggregate principal amount of its 3.125% convertible senior notes due 2029, a $50m rise on the previously announced $850m. A convertible note is a short-term debt that converts into equity and the promoter says it intends to use some of the net proceeds to …
Ticketmaster outlines remaining Taylor Swift Eras Tour ticketing plans
Ticketmaster has revealed its plans to sell the remaining Taylor Swift Eras Tour tickets. According to a report from Billboard, the Live Nation-owned ticketing company will use an older fan club ticketing system to sell the remaining 170,000 tickets. This system reportedly takes the queue out of the process. The move comes after Ticketmaster was …
Amazon Music’s +44 brand expands into live shows with Live Nation Entertainment
Music streaming platform Amazon Music has partnered with Live Nation Entertainment to expand its +44 brand to live shows. The brand, +44, is a music playlist that celebrates Black artists and genres. The live show will take place in London on February 22 and will feature a headline performance from JAE5 (pictured) at Lafayette, in …
Senator confirms anti-trust hearing concerning Ticketmaster
Ticketmaster and Live Nation will be the topic of a US Senate anti-trust panel hearing on the lack of competition in the country’s ticketing industry. The hearing follows Ticketmaster’s issues with a Taylor Swift pre-sale, which saw millions of fans attempting to purchase tickets. Fans struggled for hours with crashes and glitches, with tickets soon …