May 2, 2008 |
Live Nation Inc. signed a 10-year agreement with rapper Jay-Z that includes live shows, recordings and millions of dollars that the performer can invest in new businesses. Jay-Z, whose given name is Shawn Carter, received options to buy 500,000 shares of Live Nation stock at $13.73 each, the Beverly Hills concert promoter disclosed in a regulatory filing. Additional financial terms are not being released, the company said.
March 12, 2009 |
First-week sales of U2's "No Line on the Horizon" brought the superstar rock band back down to Earth. The album, given the band's stature and sales history, was essentially preordained to debut atop the U.S. pop charts. The only question was how many it would sell. The Interscope album sold a brisk 484,000 copies in the U.S., according to data from Nielsen SoundScan, which tracks album sales.
March 25, 2009 |
Ticketmaster Entertainment Inc. had its credit rating lowered one level to BB from BB-plus by Standard & Poor's Corp., which cited the company's fourth-quarter results and rising debt leverage. Ticketmaster, which is seeking to merge with concert promoter Live Nation Inc., may remain under pressure for at least the first half of 2009 as the recession cuts consumers' leisure spending, S&P said. As of Dec. 31, the West Hollywood-based ticket seller had total debt of $865 million, S&P said.
September 12, 2008 |
When Live Nation Inc. leaves Ticketmaster next year to launch its own ticketing service, it won't go alone. The concert promoter -- which was once Ticketmaster's largest client -- signed a multiyear agreement with Philadelphia-based SMG, a facilities operator that runs 216 venues including 75 arenas and nine stadiums. Live Nation says it expects to sell 25 million tickets to SMG venues over the course of the deal, beginning in late 2009, which analysts estimate could account for about $50 million in revenues for the Beverly Hills-based concert promoter.
February 5, 2013 |
In its bid to create a ticketing system that can eventually compete head-to-head with Ticketmaster, Los Angeles entertainment giant AEG is putting forth a bold argument: The long-standing concept of the morning on-sale needs to die. "It's 2013, a 24-7 fully-distributed on-demand world, and we still have this process that's a legacy of how we used to sell tickets 30 years ago, when you stood in line outside of Tower Records," said Bryan Perez,...
March 16, 2014 |
The gig: As the head of Sterling Venue Ventures, Lance Sterling runs the recently renovated Saban Theatre concert venue in Beverly Hills and also owns and operates the Canyon Club in Agoura Hills. Early days: Sterling, 51, studied civil engineering at the University of Arizona. While in school, he worked in bars, nightclubs and concert venues that booked groups such as Grand Funk Railroad. "I was making more money running concerts than I would as an engineer," he said. After college, he briefly worked for a billboard company and then went into the hotel business.