For the international contemporary live music industry
THE ITALIAN government has announced that concerts will be allowed to take place from 15 June for the first time since the country went into lockdown on 9 March. Outdoor concerts with up to 1,000 attendees and indoor shows with an audience of up to 200 will be allowed. While…
Read moreIN AN effort to weather the Covid-19 storm, Live Nation Entertainment (LNE) increased the value of its bonds sale to $1.2 billion, days after stating it would be worth $800 million. In its latest bout of fund-raising (see below) and follows last month’s announcement of a $500m cost-cutting exercise. The…
Read moreTHE FORUM (cap. 17,505) in Inglewood, Los Angeles, has been sold by the Madison Square Garden Entertainment Corp (MSGE) to Steve Ballmer, owner of the Los Angeles Clippers basketball team. The $400 million deal will see the arena operated by the newly formed Forum Entertainment, with its existing leadership team of…
Read moreVIAGOGO FACES a major setback following a landmark ruling by its Supreme Court that requires the controversial re-sale site to provide detailed information about every ticket it lists, including the seller’s name and address. The judgment sets an important legal precedent for secondary ticketing in the country, with re-sale platforms…
Read moreAn investment fund controlled by Saudi Arabia’s Crown Prince Mohammed Bin Salman is now the third largest shareholder in Live Nation Entertainment (LNE), following its acquisition of a 5.7 per cent stake in the company. The sovereign Public Investment Fund (PIF) stake, comprising 12,337,569 shares in LNE, was valued at…
Read moreThe European festival season has been all but obliterated by the fight to limit the spread of Covid-19, with the Germany and the Netherlands among the latest to introduce a ban on events until the end of August. In addition, the European Commission (EC) says festivals and concerts should be…
Read moreTHE COMPETITION and Markets Authority (CMA) has confirmed it will enter Phase 1 of an investigation into the acquisition of eBay-owned StubHub by Viagogo, after issuing both resale websites with an Initial Enforcement Order in January (see Audience, issue 241). The CMA’s action prevents the two companies from integrating, although…
Read moreTHE MAN they called Mr Pori Jazz, the festival’s founder, died on 27 February, aged 76. Kangas cited the 1958 Newport jazz festival and his inspiration and launched Pori Jazz in 1966, drawing an audience of 1,500 to Kirjurinluoto Park, across the river from the town centre. The event expanded…
Read moreGLOBAL GIANT Live Nation Entertainment (LNE) intends to cut expenditure by $500 million in a bid to counter the devastating impact of the worldwide Covid-19 live event shutdown. Leading the cost-cutting exercise, LNE president and CEO Michael Rapino has volunteered to forego his $3m basic salary, while other senior executives…
Read moreTO MAINTAIN profile and entertain fans during the COVID-19 lockdown a growing number of artistes and festivals are streaming live and archive performances. The UK’S 85,000-capacity Live Nation Entertainment-owned Download will stage a “virtual festival” branded, Download TV, on 12-14 June. It will be streamed on the event’s social channels…
Read moreFROM BOOKING agencies to ticketing companies, the COVID-19 crisis has resulted in significant staff lay-offs and pay cuts across the live music industry. Figures being reported show Paradigm Talent Agency, ICM Partners and WME among those to have laid off hundreds of staff, while UTA and CAA have cut staff…
Read moreTHE GOVERNMENT has banned the hosting of all events with a capacity of more than 1,000 until 31 August, bringing to an end any hope of a summer festival season in the country. The move has led to the cancellation of some of Europe’s biggest festivals, including Roskilde (cap. 85,000)….
Read moreEVENT ORGANISERS association BDKV (Bundesverband der Konzert- und Veranstaltungswirtschaft) has welcomed the Government’s decision that f ticket-holders to concerts cancelled due to the COVID-19 outbreak can be compensated with vouchers rather than cash. BDKV president Dr Johannes Ulbricht said the draft law, issued by the Government’s Coronavirus Cabinet, is certain…
Read moreAS THE worldwide death toll for Coronavirus continues to rise, governments have attempted to control the spread with quarantines, travel bans and restrictions on public gatherings. Consequently, the live entertainment industry has ground to a halt. Tours, concerts and festivals between March and June have been wiped-out, leaving all involved…
Read moreTWO NEW York-based members of a counterfeiting ring have been jailed in prison for trading in fake concert tickets and Super Bowl tickets. Damon Daniels was sentenced to 24 months imprisonment and three years supervision and Rahiem Watts was got 41 months in prison and three years supervised. The pair…
Read moreTHE LAST of America’s Big 4 booking agencies has established a major presence in the UK, with the acquisition of Primary Talent International (PTI). Founded 30 years ago by the merger of Martin Hopewell’s World Service and Steve Hedges’ Station Agency, PTI operates worldwide excluding North America and has a…
Read morePROMOTERS AND agents organisation BDKV (the Federal Association of Concert and Event Management) is celebrating a landmark victory against the secondary ticketing sector, after a court ruled that primary ticketing terms and conditions (T&Cs) had a legal foundation. BDKV had created a clause, which was adopted by the majority of…
Read moreOLSO-BASED Live Nation Norway (LNN) has acquired a 51 per cent stake in west coast concert and festival promoter Bergen Live. The companies have been working together in the country’s second city since 2005, staging shows with artistes including Rihanna, the Eagles, Elton John, Eric Clapton, Neil Young, Bob Dylan,…
Read moreTICKETING, ANALYTICS, and promoting company TEG has acquired Van Egmond Group, which has over 45 years’ of experience in touring, special events, event merchandising, marketing, ticketing and promotion. The newly named TEG Van Egmond, has previously promoted record ground-breaking tours such as Dire Straits’ Brothers in Arms and AC/DC’s Black…
Read moreLIVE NATION Entertainment (LNE) reported a strong fourth quarter (Q4) and 2019 year-end earnings, although long- and short-term debt rose by around $500 million overall. Revenue in Q4 increased by 11 per cent to $2.9 billion, AOI was up 18 per cent at $81m, driven by increased sponsorship, improved income…
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