Ticketmaster
S&P Lowers Outlook On Live Nation to Negative, Maintains Credit Rating
S&P Global has revised its outlook on Live Nation Entertainment to negative from stable following the antitrust lawsuit filed against them by the U.S. Department of Justice. The rating agency also lowered the company’s management and governance score to moderately negative from neutral. However, it maintained all of its ratings on Live Nation, including its […]
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Live Nation Sued By Justice Department In Antitrust Lawsuit Seeking Break Up
The Justice Department has sued Live Nation for antitrust violations tied to its dominance over the live events industry. The department joined 29 states and the District of Columbia to file in New York district court on Thursday a lawsuit accusing the Ticketmaster parent of leveraging its unrivaled positions as the nation’s largest concert promoter, […]
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Live Nation Is Open to “Figuring Out Common Ground” to Settle DOJ Investigation
Live Nation President and CFO Joe Berchtold provided an update on the Department of Justice’s investigation into the company’s business practices, amid rumblings of a potential lawsuit. Speaking at the J.P. Morgan Global Technology, Media and Communications conference Tuesday, Berchtold said the company continues to be in discussions with senior leadership at the DOJ, which […]
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Billie Eilish, Green Day, Sia Among 250-Plus Artists Backing Bill That Would Reform Live Event Ticketing
More than 250 artists, including Billie Eilish, Green Day, Sia and Cyndi Lauper, signed a letter Thursday urging the Senate Commerce Committee to support a bill that would reform the ticketing system for live events. The Fans First Act, which was initially introduced in December by Sens. John Cornyn, Amy Klobuchar, Marsha Blackburn, Peter Welch, […]
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Train Wreck? A Mogul’s Battle Against The Bel-Air Subway
Fred Rosen doesn’t mind if people consider him a villain. He made that clear during his fortune-making run at Ticketmaster, which he turned into a polarizing behemoth. “I was running ‘the evil empire’? I was running a business. You know who liked me? My clients. Did I love being called an asshole? Not particularly. Could […]
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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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The End of Junk Fees? FTC Proposes New Rule
The Federal Trade Commission is proposing a new rule that would require businesses, such as ticket sellers or hotels, to show the total price, inclusive of fees, to customers upfront. The rule would not set a limit on the fees, but rather would require broader disclosures, including detailing the purpose of the fees and whether […]
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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 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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Taylor Swift Concert Tickets Sales Suspended by Ticketmaster France
Ticketmaster has a new Taylor Swift problem. Early on Tuesday morning, Ticketmaster opened the online presales for the first of four Paris shows on Swift’s “The Eras Tour,” set for La Défense Arena on May 9, 10, 11 and 12, 2024. The four Paris dates were set to go on sale today in two allotments, […]
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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 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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