Live & Touring

Live Nation Stock Ends Week Down 20%

Live Nation's stock fell another 11.78% today down $1.20 to close at $8.99.  Today's drop contributed to a 20.23% overall decline in the stock 's price for the week.  Most of the fall came in the last two days after company executives admitted that this summer and the last quarter of the year would end with a 10-15% decline in ticket sales for it's top concerts.

image from routenote.com

Company President Michael Rapino promised aggressive cost cutting in September, which many believe will include major reductions to their already stretched staff and a decline in the number of club and smaller shows that the company does each year.  Executives also acknowledged fan dissatisfaction with high ticket prices and even higher ticketing fees and vowed to work with artist to improve both.

Meanwhile the broader market closed the day mixed with the Dow down just 2.52% 

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1 Comment

  1. Dont believe a word Live Nation tells you. They ARE NOT going to work with anyone. They are the ones who have raised their fees and changed the ticket pricing schedules. They took a bad situation with Ticketbastard and made it 10 times worse. The concert going public has finally had enough, they just dont have all of the cash for the stupid fees, parking, service charges and concessions anymore. Ticketbastard was already bleeding the public dry by the time Live Nation got their hooks into them. I hope Live Nation and all of their investors chock on their stock and find another group of the public to leech off of and leave music lovers the world over, the hell alone.

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