Michael Rapino: Last News

Jem Aswad Senior Music Editor This past spring, as the omicron wave subsided and the world began a ready-or-not return to something resembling normal, the floodgates opened and thousands of musicians returned to the road. Audiences flocked to arenas and big theaters see Harry Styles, Olivia Rodrigo, Elton John and many others. Coachella launched the festival season with a bang, and smaller clubs began to cautiously figure out how to put on shows in tight spaces. It was a bumpy start — many acts (even Sir Elton and Bon Jovi) had to cancel or postpone shows because of positive Covid tests — but a start, nonetheless. Live Nation CEO Michael Rapino says ticket sales are on their way to a record year.

Thania Garcia New Jersey Congressman Bill Pascrell Jr., a longtime critic of the ticketing business and Ticketmaster in particular, has posted an official call for action against the Live Nation-owned company’s “dynamic pricing” model — particularly in relation to one of New Jersey’s most treasured artists, Bruce Springsteen. “Today I’ve demanded answers from Ticketmaster on the monopoly’s role in the Springsteen tour fiasco where fans were charged upwards of $5,000 for seats,” Rep. Pascrell wrote in the caption attached to his published letter on Twitter. Today I’ve demanded answers from Ticketmaster on the monopoly’s role in the Springsteen tour fiasco where fans were charged upwards of $5000 for seats. pic.twitter.com/K8WGtmH1iX The letter is addressed to Michael Rapino, president and CEO of Live Nation Entertainment, and starts off by addressing the Springsteen concert and asserts his call for transparency. “To help fans better understand the frustratingly opaque process that leads to such high prices, I am inquiring about the veracity of the company’s statement, as well as the policies and prices the company has put in place for this tour.”

Jem Aswad Senior Music EditorLive Nation posted solid results in its second quarter earnings report, with a 40% increase in revenue over the same period in 2019 to $4.4 billion, an 86% increase in operating income to $319 million, and a 50% increase in adjusted operating income $480 million.Perhaps most significantly, “We have sold over 100 million tickets for our concerts this year — more than we sold for the entire year in 2019,” CEO Michael Rapino said in a statement, adding that the company is on track for a record year.Live Nation also posted what it said is its highest quarterly attendance ever, with more than 33 million fans across 12,500 events — up 20% over the same quarter in 2019.Rapino said, “With most of the world fully re-opened, it’s clear that concerts remain a high priority for fans. Consumers are seeking out and spending more on experiences, and the growing demand we are seeing for live music and events is driving our business to record levels, far outpacing any macro issues or cost increases.” However, while many blockbuster tours, such as Harry Styles and Olivia Rodrigo, are thriving, the high number of artists on the road, combined with recession fears and lingering apprehension about mass gatherings as Covid variants continue, has caused others to perform below expectations.

Jem Aswad Senior Music EditorLive Nation has re-upped longtime CEO Michael Rapino to a new five-year contract that will see him earn $30 million year if he and the company meet performance metrics, according to documents filed with the SEC.While Rapino’s annual salary holds at his previous $3 million per year, the annual target cash bonus is climbing from $6 million to $17 million per year. The news was first reported by the Hollywood Reporter.Starting next year, Rapino will also be eligible for an annual grant of restricted shares valued at no less than $10 million.

DEALSTainy has renewed his deal with Sony Music Publishing, continuing a partnership that began in 2005. “I am grateful that my career has allowed me to reach new heights not only on the artistic and creative side, but also on the business side”, he says. “I appreciate having such great partners on the publishing end.

It’s been a busy few months for Lizzo and there’s no sign of slowing down.

Jem Aswad Senior Music EditorLive Nation Entertainment posted the best first quarter in its history this year, according to financial results released Thursday for the quarter ended March 31, 2022.“Momentum has picked up for all of our businesses over the course of the first quarter, and as a result, we delivered financial performance that greatly surpassed our previous expectations, with operating income of $27 million and [adjusted operating income] of $209 million,” CEO Michael Rapino said in a statement accompanying the results. “Artists are back on the road and fan demand has never been stronger, a reflection that live events remain a clear priority for consumers as our social lives restart.”The company’s AOI of $209 million topped the previous record, Q1 of 2019, by $94 million, and was $361 million better than 2021 — when the industry had not yet begun to emerge from the pandemic — with a boost of $269 million in ticketing, $66 million in sponsorship and $26 million in concerts.

Sasha Urban editorIn a conversation on CNBC’s “TechCheck” on Monday, Live Nation Entertainment CEO and president Michael Rapino said he expects a record year for the company’s ticket sales, despite the ongoing conflict between Ukraine and Russia.“We don’t have a lot of shows in that area so that hasn’t really affected our business,” Rapino told CNBC’s Julia Boorstin. “Europe seems to be business as usual right now for the summer, so we haven’t seen any disruption in our core business around the world in terms of touring.”He continued, “We’re still tracking 30% plus up year over year, we’re seeing consumers buying tickets on sale this weekend.

COVID-19, or a negative test, at their venues and events in the UK.A representative for the touring giant confirmed the policy when contacted by NME, days after the same plans were unveiled in the U.S.The firm currently operates the entire network of O2 Academy venues in the UK, as well as festivals such as Reading & Leeds, Download, Wireless and Creamfields.It is yet to be confirmed when the policy will be fully implemented in the UK, but Live Nation CEO Michael Rapino has described it as “your ticket back to shows”.“We will be following the model we developed for Lollapalooza and requiring this for artists, fans and employees at Live Nation venues and festivals everywhere possible in the US,” Rapino said in a statement.The decision comes

Jem Aswad Senior Music EditorIn a bid to help bring fans back to concerts, Live Nation announced its “Return to Live” summer concert campaign, offering fans $20 all-in tickets to nearly 1,000 shows this year. While the company has used the tactic for slower-selling tours in the past, obviously in 2021, as its 40-plus outdoor venues across the U.S.

The concert industry clearly wants to get back to work, as a flurry of announcements on Friday proved. But what those announcements also proved is that getting back to work will require a leap of faith by all involved, most prominently, the government.

Live Nation‘s CEO has hopes that concerts and festivals could return by the summer.

coronavirus in order to host “full scale” shows next summer.It follows a disastrous year for the company, with the widespread cancellation of gigs due to the pandemic causing the firm to report a 95.1% drop in revenue in the third quarter of 2020.Live Nation posted a net revenue of $184 million in the period from June to September, a huge drop from the $3.77 billion they raked in during the same period last year.As IQMag reports, however, CEO Michael Rapino remains upbeat about the company’s fortunes next year after being encouraged by the small number of fans who have returned tickets for refunds, as well as strong festival sales for next summer.He added that fans can “expect shows at scale next summer” after vowing to implement a series

Jem Aswad Senior Music EditorIn the Q&A session at the end of the Live Nation third quarter earnings report on Thursday, the company’s CEO Michael Rapino had some strong words for former WME music chief Marc Geiger’s recently announced “SaveLive” plan to bail out struggling independent concert venues via a joint-venture that would see Geiger and investors taking 51% equity in the venues.Rapino called the plan, for which Geiger has amassed $75 million from investors, a “fire sale” for venues and says he does not see it as being attractive to venues, even if they are struggling.Asked what impact, “if any,” the plan can have on the industry, Rapino audibly sighed and said, “Probably the same one he had at William Morris,” before continuing.

The promotion giant previously said that refunds wouldn't be available until a new date was announced for postponed gigs

Live Nation chief executive Michael Rapino has purchased $1 million worth of stock in the company he has built since 2005, according to a recent filing with the Securities and Exchange Commission. The stock purchase comes on a brutal day for the stock market, w