Live Nation looks to swallow up SMG

In a move that will almost certainly attract regulatory attention, and would make its market share in live events even more dominant, Live Nation is reported to be among the bidders for venue management giant SMG. SMG, which has the world’s largest venue portfolio of some 500 arenas, stadia, theatres, amphitheatres and convention centres across North America, Europe and Asia (according to IQ-Mag.net) was put on the market by its current owner Northlane Capital Partners, and is expected to fetch somewhere in the neighbourhood of $750 million.

Record year for Live Nation

Live Nation stocks soared to an all-time high following the announcement of record revenues for the sixth consecutive year, climbing above US$30 for the first time. For the 12 months ended 31 December 2016, Live Nation Entertainment saw revenue rise 15% to $8.4 billion.

Operating income was up 48% to $195 million, while AOI (income before acquisition and stock expenses, depreciation and loss/gains from the disposal of assets) climbed 12% to $646m. Concert attendance was also up 12%, to 71 million people, while Ticketmaster increased gross transaction value 16% to $28bn on a constant-currency basis, boosted by posting six of its ten best-ever months in 2016. Rapino said the integration of Ticketmaster into new partner sites, including Spotify and Facebook, led to the sale of 10 million more tickets.

http://www.iq-mag.net/2017/02/record-live-nation-entertainment-turnover-sixth-year/#.WLAdwzuLSM9

Metropolis and CT Touring join Live Nation

Live Nation has formed a new promotions company in the UK, to trade as Metropolis Music. The new venture will be a reconfiguration of the established UK promoters Metropolis, integrating into the Live Nation team. The team will include Bob Angus as Chairman; Raye Cosbert as Managing Director; Andy Robbins, Kiarn Eslami and Tony Dobson on Artist Bookings; Sophie Pitchforth as Executive Booking Coordinator; and Ronnie Lee as Production Coordinator. And in its second deal with an independent British promoter in the space of three days, Live Nation has announced the acquisition of a controlling stake in Preston-based Cuffe & Taylor. Founded in 2009 by Daniel Cuffe and Peter Taylor, Cuffe & Taylor’s portfolio include Greenwich Music Time, in south-east London, and the local Lytham Festival. It also has exclusive booking rights to the Scarborough Open Air Theatre (6,500-cap.).

And Creston Thornton has sold CT Touring, the company he started five years ago in Boise, Idaho, to Live Nation and becomes president of its new Mountain Region booking Idaho, Montana, Wyoming and eastern Washington.  With the sale, exclusive contracts and agreements with venues including Eagle River Amphitheatre and CenturyLink Arena are inherited by Live Nation. Thornton retains ownership of the 2,200-capacity Revolution Concert House & Event Center in Garden City, Idaho.

In other news, LNE rival Eventim has launched a subsidiary live music promotions business, Vaddi Concerts GmbH, in Germany’s Freiburg area. Vaddi Concerts becomes part of Eventim’s Medusa Music Group arm, and will be run by Managing Director Marc Oßwald.

Live Nation gets Big in Africa

Live Nation Entertainment has expanded into South Africa by acquired a controlling interest in Big Concerts – the territory’s leading concert promoter. Big Concerts will continue to be led by Attie van Wyk as Chairman and Justin van Wyk as Chief Executive Officer.

Live Nation posts Q3 profit

Live Nation Entertainment  have surprised the market by announcing a Q3 2015 profit. Revenues were up 10% to $2.62 billion and the compay had a net $89 million profit. Concert revenues were up 9% and attendance up 10%, driving growth in advertising and ticketing revenues. Ticketmaster reported a 22% increase in secondary ticketing activities with overall ticketing activities up 18%.

Lotta Mullah - Live Nation take control at C3

Live Nation has taken a controlling stake in Austin City Limits and Lollapalooza promoter C3 Presents, with the live music major rumoured to have spent in the region of $125 million to take a 51% shareholding in C3. C3 Presents founders Charles Attal, Charlie Jones and Charlie Walker said "We are excited to join Live Nation and become a part of their global family, while continuing to grow our festivals within a culture of entrepreneurship that will empower our team to keep improving these festivals and the fan experience".