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,...
September 20, 2011 |
Universal Music Group Inc., the largest music company in the world, is forming a joint venture to manage musicians with Live Nation Entertainment Inc., the world's biggest ticketing, concerts promotions and artist management firm. The deal puts Universal's small cluster of four management companies under Live Nation's Front Line Management Group, whose 90 executives manage 250 artists, including the Eagles, Jimmy Buffett, Kenny Chesney and Christina Aguilera. Under the agreement, Front Line will oversee the joint venture.
July 7, 2006 |
EMI Group said Thursday that it would distribute the recordings of Mandy Moore and rock group Army of Anyone through a new label created by talent management company the Firm that plans to share profit directly with the artists. The profit-sharing aspect of the label, which hasn't yet been named, differs from traditional royalty agreements, London-based EMI and the Firm said.