Montese Jordan, MBA’s Post

Live Nation reported a record Q2 2024, with revenue up 7% to over $6 billion and operating income up 21% to $466 million. The company hosted 39 million fans, a 5% increase, with significant growth in arenas and amphitheaters. Ticketmaster sold 183 million tickets year-to-date, a 3% increase, and onsite sponsorship revenue rose 28%. Despite an ongoing DOJ antitrust lawsuit and settlements from the 2021 Astroworld incident, Live Nation remains optimistic. The company highlighted strong global demand for live shows, strategic investments in venues, and plans to open 14 major venues by 2025. Sponsorship revenue grew 3% to $312 million, with new and expanded partnerships with brands like Coca-Cola and Hulu. https://lnkd.in/g7CJv_-V #LiveNation #livemusic

FINE-ill-fee. (Finally) SUMone calculated the endgame. Blame the customer - patient. Arrogant argument from Live Nation - you can't FIX the (price fixing) process. Never mind steering, bait and switch, price fixing, tying, price gouging. And colluding. Why don't I tag along and throw my name in the hat (third party contracted or not)? This incites scalping.  Fee EnterSurprise (Free Enterprise) and incorporates Surprise Billing. What's at Stakeholder for the Payment Processors? What is a Cyber-Ring? (siphoning financial gain for ill gotten goods embezzling commerce from legitimate vendors).   Then add on (reported by concert customers) double ticket price Junk Fees for what purpose? Financial Gain who has nothing to 'due' with facilitating any event function. This CAPTIVE payment process usurps other vendors' hotels, restaurants, gas, and tax revenue. So it is not about the Music Artist (or doctor) at all. It's about the Scam Artist taking advantage and profiting from SUMthing that is none of their business. 

The Business of Lollapalooza: A Symphony of Success Next weekend Chicago is hosting Lollapalooza! Lollapalooza is more than just a music festival—it's a powerhouse of economic and cultural impact. Economic Impact: With over $245 million in annual revenue, Lollapalooza significantly boosts local economies, creating jobs and driving tourism. Brand Partnerships: Strategic collaborations with top brands enhance the festival experience and showcase the power of experiential marketing. Diverse Lineup: Featuring a wide range of artists, Lollapalooza attracts diverse audiences and promotes cultural unity. Innovation and Tech: The festival leverages cutting-edge technology for seamless ticketing and interactive experiences, setting a standard for live events. Community Engagement: Supporting local artists and nonprofits, the festival fosters community connections and goodwill. Lollapalooza exemplifies strategic planning, innovation, and audience engagement, making it a blueprint for successful, impactful events. Oh, and it’s a blast! #Lollapalooza #MusicFestival #BusinessInnovation #EconomicImpact

The O2 is celebrating another stellar year of ticket sales, with over 2.5 million arena tickets sold in 2023 – a 9% increase from 2022. These strong sales have been supported by record-breaking figures across a broad range of genres at the venue this year – from comedy to country, and standout artist residencies with Elton John, Peter Kay, and Madonna which was by some margin my favourite show of the year.   On top of multiple award wins this year, the venue is celebrating a series of milestones including surpassing 30 million tickets being sold at the venue since 2007, and hosting its 3000th event earlier this week with the legendary Tom Jones. Once again we are the busiest arena in the world, ahead of MSG and many other wonderful venues and that is a record that all the team at The O2 should be very proud of. It's no mean feat to stay ahead of the competition year after year and continue to deliver a best in class experience. As I approach 10 years with AEG I am more excited than ever about the next few years ahead. The live events market is constantly evolving, so the opportunity to innovate is greater than ever before. The future looks extremely positive for our industry, with new bands breaking all the time and an incredible pipeline of talent coming through to complement existing artists capable of headlining arenas. On the supply side, at our end of the spectrum demand from fans is greater than ever before.   AEG are committed to investing in The O2 to ensure that we remain the market leading venue in the world, at a time when new venues are being built and landscape is ever evolving. Those investments over the coming years will touch every part of the venue from the artist areas and premium through to next generation fan experience and technology to ensure that we deliver on our core brand experience principles. In addition, we will continue to drive to net zero and ensure that we put sustainable practices at the heart of every decision.   I am surrounded by an incredible team of people, who I feel honoured to lead and I so incredibly humbled to work alongside. Over the next few years I am excited to see what more we can achieve together. #theo2 #teamwork #liveevents https://lnkd.in/ehMZMFUU

Friday insight blog time - "Small venues: big problems". Musings on the business model of live entertainment venues and why the disparity between large and small venues is getting wider. https://lnkd.in/e6fVVeDn #blog #musicvenues #arenas #stadium #smallvenues #musicvenuetrust

🎟️ Elevate your venue's success with our latest insights! Dive into our comprehensive blog post, 'How to Maximize Ticket Revenue in 2024: Strategies for Live Entertainment Venues.' Discover cutting-edge strategies to boost ticket sales and elevate your live entertainment game. Don't miss out on the latest trends shaping the industry! #LiveEntertainment #EventManagement #TicketRevenueStrategies #LinkedInInsights #2024Trends #ArtsAndCulture #performingarts

The Sphere in Las Vegas is upping the ante on live entertainment as U2 extends its residency from 25 to 37 shows. This isn't just about the legendary rockers; it's about the "Sphere experience," with its jaw-dropping 16K-resolution screens and a $10 million spectacle specifically designed for U2. If you're in the business of media buying or sponsorships like we are at O'Brien Marketing, note that the real money-maker here isn't just ticket sales; it's also advertising, merch, and suite sales, making venues like The Sphere prime real estate for high-impact brand visibility. 🎶📺💰 #U2 #TheSphere #EntertainmentMarketing https://lnkd.in/g9SC7-pd

Most of us have bought tickets to some event, be it a concert, movie, or just a local talk. It's safe to say that we have all experienced that frustration with particular ticketing platforms that charge outrageous fees, nearly rivaling the cost of the base ticket itself. They will go to great lengths to buy out top venues (and if they can't buy them out, they'll make exclusive ticketing agreements) where top shows need to perform and charge those high fees to customers, knowing that the shows will likely sell very well (and many cases, sell out) raking in the money. Today, the United States Department of Justice and 30 state and district attorneys general filed an antitrust lawsuit against Ticketmaster and Live Nation. They identified several monopolistic practices that have stifled competition that could bring better experiences and pricing to customers and artists. It will be interesting to see how this plays out over the next several years. Let's hope this helps everyone in the industry, as we have been fueling record profits for these two companies with difficult ways around their systems and practices. How have you been affected by high ticket fees and ticketing systems that make the purchasing experience inconvenient? https://lnkd.in/gJKg6YT9

The hoopla surrounding Live Nation/Ticketmaster’s business practices has raised interest in monopolistic practices affecting ticket prices. Since the company acquired Ticketmaster in 2010, Live Nation has set about building a business that controls nearly every layer of the live event lifecycle, from artist management to venue operations and ticketing, attaching numerous additional costs, such as “service fees” and “convenience fees”, to its ticketing platform along the way. While concerts constitute the bulk of the company’s revenue, they are far from its most profitable segment. Last year, the company reported just a 2% adjusted operating profit margin in its concerts division, while ticketing made a whopping 38%, and ads and sponsorships managed 62%. The concert division often relies on other parts of the business to help fund it, a lifeline it would lose if the DOJ does manage to split the company up.

The hoopla surrounding Live Nation/Ticketmaster’s business practices has raised interest in monopolistic practices affecting ticket prices. Since the company acquired Ticketmaster in 2010, Live Nation has set about building a business that controls nearly every layer of the live event lifecycle, from artist management to venue operations and ticketing, attaching numerous additional costs, such as “service fees” and “convenience fees”, to its ticketing platform along the way. While concerts constitute the bulk of the company’s revenue, they are far from its most profitable segment. Last year, the company reported just a 2% adjusted operating profit margin in its concerts division, while ticketing made a whopping 38%, and ads and sponsorships managed 62%. The concert division often relies on other parts of the business to help fund it, a lifeline it would lose if the DOJ does manage to split the company up.