Live Nation posts 2017 results

Live Nation had another record year in 2017 for the full year ended on December 31. Revenue were up 24% to $10.3 billion; attendance at the company’s concerts was up 21% to 86 million; and sponsorship and advertising revenue was up 18%. The company’s Ticketmaster unit showed strong growth as well, with its fee-bearing gross transaction value (GTV) up 15%. The company acknowledged a $202 million fourth-quarter loss from its $110 million settlement with Songkick, whose assets it acquired as part. Looking ahead into 2018, LNE confirmed arena, amphitheater and stadium shows through February 19 are up 7% compared to this time last year.  CEO Michael Rapino said “Given our plans to further monetize our fan relationships, I expect this will translate into continued strong growth in concerts operating results in 2018.”

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 embroiled in secondary ticketing scandal in Italy

Live Nation has become embroiled in a ticketing scandal in Italy, after the promoter admitted directly providing tickets to the resale website Viagogo. An undercover report on the TV show Le Iene, which featured an anonymous employee who explained how tickets made their way onto such sites, prompted MD of Live Nation Italy, Roberto De Luca, to make the admission that the company carried on the practice, with De Luca saying ""I want to be clear that, to your question if Live Nation issued tickets on secondary sites and I answered no… in fact we issue some tickets. A very limited number of tickets on other sites, in this case [on] Viagogo" 

Italy’s culture minister, Dario Franceschini, has now tabled an amendment to the 2017 Budget legislation which, if passed, would provide for fines of €30,000–€180,000 for the sale of tickets by anyone but the event’s promoter or authorised resellers. Franceschini called touting an “intolerable phenomenon”, and said “recent events show that self-regulation” – such as that advocated by Prof Waterson in the UK – “is not enough: we need legislative action.” The Italian promoters’ association Assomusica supported the move saying “Our association has always been at the forefront of [putting an end to] touts making money from spoiling cultural events, which promote art and socialisation.” Live Nation have withdrawn from membership of Assomusica.

http://www.billboard.com/biz/articles/news/digital-and-mobile/7573662/live-nation-embroiled-in-italian-secondary-ticketing

http://www.bbc.co.uk/news/entertainment-arts-37985565

http://www.iq-mag.net/2016/11/italian-ticket-touts-fines-180-000-euros/#.WCr8FvmLSM9

Live Nation snap up Nous

Warner Music France has sold French concert promoter Nous Productions to Live Nation for an undisclosed sum. Nous will join Live Nation France from October 1, according to IQ. Founded by Solomon Hazot in 2006, the Paris-based firm was bought by Warner in 2010. The company continued to operate as a stand alone company and had a turnover of €21.6 million in 2015.

Live Nation posts financial results for 2015

Live Nation Entertainment delivered its fifth consecutive year of record revenue, profitability and free cash flow in 2015, but these overwhelmingly positive earnings figures were released on a “constant currency basis,” an approach which eliminates the volatility of exchange rate fluctuations. On a “generally accepted accounting principles” basis, or GAAP, Live Nation reported revenue of $7.24 billion, “which compares to our $7.08 billion estimate,” says analyst Rich Tullo, director of research at Albert Fried & Company. “Operating income [of] $131 million missed our estimate of $180 million, [which] might be an issue with foreign exchange. The company cites on-site advertising as its prime growth driver for the year, with growth in that division at 17 percent for the year. 

More on billboard here 

Live Nation upgrades US concert security

Live Nation has announced that it has upgraded security at the all US concerts and events in the wake of the Bataclan terrorist attacks in Paris in November.

More than a dozen arenas have announced new security measures made at Live Nation's request which will include screening fans with metal detectors and limiting what type of bags fans can be brought into concerts and events: The specific requirements for all non NHL/NBA venues are as follows 

- Bags no larger than 13.62-inch by 15.25-inch are permitted and all backs should be clear or see-through

- Everyone must pass through a walk-through metal detector.

- Installation of camera systems with a command centre monitoring capability.

- Cultural training for staff with an emphasis on appropriate handling of ethnic & religious sensitivities.

- Pre-event inspections by bomb detection K9 units.

Most sports team home venues had already adopted these measures.

Will Live Nation pick up SFX?

It seems SFX's money-lenders are  hoping that Live Nation will acquire the flagging EDM powerhouse. The debt pile of around $300 million is now nearly ten times the market cap valuation of the company after it's share price collapsed and SFX recently confirmed it had asked its bankers to investigate a possible restructuring of its debts with talk that Cream founder James Barton - currently a Live Nation executive - was in talks to join the company. It is thought that Live Nation was among the companies to express an interest in SFX's assets when the latter's directors were accepting bids earlier this year although Reuters say Live Nation might just cehrry pick off SFX's most successful festival brands and buy them individually instead - although ab SFX buy would make it a dominant force in the dance music sector. 

LA looks at EDM safety

In the wake of the deaths of two teenagers at the Live Nation promoted HARD Summer festival last month, the Los Angeles County Board Of Supervisors has formed an Electronic Music Task Force to "provide recommendations on ways to make electronic music festivals safer for attendees". 

Teenagers Tracy Nguyen and Katie Dix both died at the Hard Summer festival at the county-owned Fairplex on 1st August, and their deaths were seemingly drugs related. Dozens more festival-goers reportedly required hospital treatment. A subsequent event planned at the site owned by the County of Los Angeles was cancelled by Live Nation. With LA County considering a ban on EDM events at any venue it owns, Live Nation also cut back the capacity of another event scheduled for Halloween and committed to add free water stations, increase security and medical services, and distribute drug education literature at that two-day show.

The motion put forward to propose the new task force states that a ban on EDM events at LA Country owned facilities is still "a possibility", though First Amendment issues around such a ban will be considered first, as well as what health and safety measures could counter concerns. One of the people behind the new task force set to review dance music events in the region is LA County Supervisor Hilda Solis, who said in a statement: "I want to emphasise that our efforts around this motion, above all, are about the health and safety of those attending these events"

 A spokeswoman for the Los Angeles County Fair Association, which runs Fairplex, told reporters: "Fairplex will continue to work with Live Nation, the board of supervisors and all public agencies to ensure the continued safety of all guests. We will work together to do everything we can".


Meanwhile, troubled EDM promoter SFX has also cancelled the One Tribe festival which was due to take place near LA on 25th and 26th September. This was as a result of poor ticket sales.

Live Nation will re-launch MLK in Germany

Live Nation has fully acquired the fifth-largest live music promoter in the world, Germany’s MLK (Marek Lieberberg Konzertagentur GmbH). Following the buyout, the US company has launched Live Nation Concerts Germany, headed up by MLK founder Marek Lieberberg. The new company will begin promoting gigs and festivals in Germany, Austria and Switzerland on January 1, 2016.

Live Nation set to acquire MAMA

Live Nation is set to acquire festivals and venue operator MAMA & Company, according to reports. Earlier this year, MAMA appointed global business advisors Alix Partners as it considered its options following two unsolicited bids for the firm.  Audience now reports that AEG Live was also in the running but was outbid by Live Nation with the deal expected to be completed in August following due diligence.  MAMA's venue portfolio includes The Forum in Kentish Town, Camden's The Jazz Cafe and Barfly, The Garage, The Borderline and Hoxton Square Bar and Kitchen, all in London, along with Manchester Ritz, Birmingham's The Institute and Arts Club Liverpool as well as The Great Escape conference and showcase festival in Brighton and the Lovebox and Wilderness festivals.

Confirming the deal, Live Nation’s UK chief Paul Latham said "“We are delighted to be welcoming new venues, and some that we have previously managed, into the group. Likewise MAMA have made great strides with their festivals and the creativity they have demonstrated will be complementary to LN-Gaiety’s existing portfolio”."

Music on TV - Live Nation launches new Awards show

Live Nation is launching a new televised awards ceremony in the US on October 1st which promises to ‘connect fans with their favorite artists in an unprecedented way’. The Live Nation Music Awards will honour the best live musical performances of the year. It will be simulcast on the night by TNT and TBS. The event will be produced by Live Nation Entertainment in collaboration with IMG and Dick Clark productions and award catergories  will include Live Performance of the Year, Best On-Stage Collaboration, Road Warrior of the Year, and Best Special Effects in a Festival. The ceremony also promises ‘unique, never-before-seen collaborations and special appearances’. More here http://www.musicbusinessworldwide.com/live-nation-launches-its-own-televised-awards/

Simon Cowell has called his time on American Idol "a blast" after it was announced the TV talent show would end after its 15th series.

And more music on TV - the BBC's coverage of the Glastonbury Festival in 2014 has picked up a prestigious 'Bulldog' Award which is voted for by the UK TV industry and organised by Televisual Magazine. The Award is for best live event coverage.

CTS Evetim face competition enquiry but anti-trust claims against LNE dismissed

Germany's competition regulator is invetsigating CTS Eventim's dominant position in the market. Eventim has received a request for information from Bundeskartellamt (Federal Cartel Office) following the announcement of its recent joint venture with Netherlands-based Stage Entertainment. Eventim is also planning to acquire Arena Management, manager of the 19500 capacity Lanxess Arena in Cologne. CTS Eventim turnover was  E711 in last financial year and it own See Tickets, TicketsOne (Italy) and Ticketcomer (CH) as well as part owning FKP Scorpio which itself promotes numerous European festivals incuding Hurricane, Southside, Deichbrand, Highfield-Festival, Chiemsee Summer und M’era Luna Festival, Elbjazz, A Summer's Tale, die beiden Indoor Festivals, Metal Hammer Paradise und Rolling Stone Weekender in Germany:  NorthSide (Dänemark), Tinderbox (Dänemark), Getaway Rock Festival (Schweden), Bråvalla Festival (Schweden), Where's The Music? (Schweden), Provinssirock (Finl;and), Indian Summer Festival (Niederlande), Best Kept Secret (Niederlande) Greenfield Festival (CH).

In the USA, accusations that Live Nation Entertainment (LNE) violated federal and state anti-trust laws, interfered with contracts and used unfair competition tactics has been thrown out by a federal court in Maryland. The court dismissed all claims in a lawsuit filed in 2009 by promoter Seth Hurwitz’s companies It's My Party (IMP) and It's My Amphitheatre (IMA). 

Live Nation buys into Swedish EDM promoter

Live Nation has made another acquisition by taking a majority stake in Stockholm-based EDM specialists Stureplansgruppen Live (SPG). Confirming the deal, Live Nation's John Reid told reporters: "Since we own and operate a large number of big and successful EDM festivals globally - Electric Daisy Carnival, Hard Fest, Holy Ship! and Creamfields - it is both exciting and natural that we acquire SPG Live, especially given that many of the biggest artists in this segment internationally are from Sweden". Meanwhile SPG Live's Anders Boström said: "We are incredibly proud of what we have accomplished with SPG Live, and at the same time very happy and excited about what's about to come. As part of Live Nation and its organisation around production, marketing, PR, sponsorship and their long experience of big events, we will be able to lift our business another level while retaining what have made our festivals and concerts so great".

Live Nation announce Thai JV

Live Nation has announced a joint venture with Thailand-based entertainment firm BEC-Tero. The new company, Live Nation BEC-Tero, will promote concerts by Western, J-Pop and K-Pop artists in the region, a pursuit in which BEC-Tero's concerts division is already a market leader locally. The joint venture will be led by Neil Thompson, who has been working in the Thailand music industry for over two decades.

Vice and Live Nation team up for online content

Live Nation and Vice have entered into a new joint venture to "launch a revolutionary new digital content platform delivering the voice of live music to millions of online and mobile audiences". Vice CEO Shane Smith: "This partnership rethinks the live music experience, offering unprecedented access to the world's biggest stars and emerging artists, and groundbreaking content that will be distributed across the holy trinity of mobile, online and TV. Today the content world is in upheaval, with new brands being created in real time, and mainstream media seeing its audience migrate in record numbers".

Live Nation looks at 'record year'

Live Nation has announced its third quarter results and that the live giant says it is on track for "another record year". The figures backed up claims made in July, when reporting that profits were down for the second quarter, that the live firm was set for a strong summer concert season. Live Nation, According to Billboard, revenues for the quarter were up 11% to $2.5 billion with "adjusted operating income" - so operating income without the effects of "one-time and extraordinary items" - was up 17% to $258.1 million.

New look Maverick gives Live Nation a management powerhouse

Guy Oseary has unveiled the new Maverick, giving Live Nation a major presence in band management  - by tying up with eight other top artist managers to partner with Live Nation and potentially reinvent the music industry with a stable that includes superstar acts like Madonna, U2 and Alicia Keys -- not to mention a tech fund with Ashton Kutcher and billionaire Ron Burkle. Joining Oseary are Laffitte Management's Ron Laffitte, I Am Other's Caron Veazey, Blueprint Group's Gee Roberson and Cortez Bryant, Reign Deer's Larry Rudolph and Adam Leber, Quest Management's Scott Rodger and Spalding Entertainment's Clarence Spalding. Collectively, they manage more than two dozen of the planet's biggest artists. 

Live Nation targets C3

Billboard reports that Live Nation is in talks to buy 51% of Austin-based live firm C3 Presents, in a deal that could be worth approximagtely $125 million, and would give the live music major a controlling stake  in the company behind US-based festival Austin City Limits, Lollapalooza, Orion and LouFest, as well as the Australian touring festival Big Day Out, which is currentlyon a sabbatical after heavy losses.  t's not clear how any deal would impact on C3's other business interests, which include a management agency and Front Gate Ticketing, which it acquired in a joint venture with Live Nation competitor AEG back in 2012.

Live Nation raise $500 million to pay off debt and fund growth

Live Nation Entertainment (LNE) has raised another $500 million from private lenders in order to pay off more expenses borrowing and leaving the company with a war chest for further possible acquisitions. Around $220m will be used to redeem debt that is incurring higher interest, leaving LNE, after related costs, with in excess of $260m for potential investments and takeovers. Live Nation's Ticketmaster has announced it is acquiring Eventjoy, a provider of mobile ticketing and marketing tools to event organisers.

And in the USA, SFX Entertainment reported second quarter financial results for the three months ending 30 June with revenue at $82 million compared with $27.4 million in 2013 for the same period last year. However, net loss was $43.7m up from $24.9m in the preceding year's quarter, while long term debt almost tripled to $220.5m from $74.7m the preceding year.

http://www.audience.uk.com/world_news.php

Live Nation confirms JV with leading promoter in the Philippines

Live Nation has announced an alliance with Music Management International Corp in the Philippines which will allow the live music major to grow its operations in the country. The first gig staged by the joint venture will be a One Direction show. Confirming the partnership, Live Nation CEO Michael Rapino said in a statement: "Following the recent addition to our network in Taiwan, this partnership with Rhiza in the Philippines means we can now provide artists a turnkey solution connecting them with the leading promoters across this rapidly growing region and further expands our global footprint, which includes operations in more than 40 countries".