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| Can Fred Rosen Quash Live Nation International's Ticketmaster? |
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At 67, Rosen is the godfather of the US $18-billion-a-year primary ticketing business... he originally shook up the ticketing industry by allying himself with venues and promoters as customers, rather than the fans and performers. By creating a centralized distribution system that let people buy tickets over the phone, through retail outlets and, later, online, he saved them from having to queue at venues therefore saving them the hassle of having to line up at a box office.
He bet that arena owners and promoters would sign up in droves if they were offered a percentage of every ticket that was sold using a “convenience” or “service” charge, and he was right. And he's not alone with Outbox... AEG is onboard with him to try to take down the behemoth. With former CTO and EVP of Ticketmaster, Jean-Francoys Brousseau and Guy Laliberté's Cirque du Soleil behind Outbox, it's a formidable team. From the New York Times: ...When Mr. Rosen joined Ticketmaster, the company had
about 25 employees and annual ticket sales of less than $1 million.
When he left, in 1998, it had 5,000 employees and sales of $2.4 billion.
In 2010, the combined Live Nation-Ticketmaster had 6,500 employees and
sold $7.2 billion in tickets. And his goals with Outbox are ambitious: Mr. Rosen expects it to generate $1 billion in sales and employ 500 people within three years. Live Nation’s merger with Ticketmaster created considerable discontent among venue owners and promoters who oppose market dominance. And Mr. Rosen is hoping to cash in on this unrest. “The merger really set off all kinds of bells and whistles in my head,” Mr. Rosen said. He likens Live Nation to Ticketron, which was the dominant player until Ticketmaster came along. (Ticketmaster bought Ticketron in 1991.) “You have to remember that Ticketron was around for 25 years,” Mr. Rosen said. “I made everyone change how they buy tickets.”
Related Articles: Live Nation Unloads U.K. Theatre Division for Approximately U.S. $160 Million Live Nation
, the world's largest live music company, recently announced that it has
closed the sale of its remaining U.K. theatrical venues and operations
to The Ambassador Theatre Group, an owner and operator of regional
theatres in the United Kingdom. In addition, on October 23, 2009,... Live Nation Reports Strong Third Quarter Results Live Nation (NYSE: LYV) released financial results for the three months ended September 30, 2009 today.
“We generated robust organic growth from our operations during the third quarter as we focused on executing our fundamentals with excellence during the peak concert season,” said... Live Nation, Ticketmaster profits take a hit due to Proposed Merger
Live Nation and Ticketmaster
Entertainment Inc. both stated that their earnings were hurt by
costs related to the proposed deal, which is expected to continue into 2010 as
regulators examine antitrust issues.
Comcast Jumps into Ticketmaster Live Nation Merger Fray According to recent reports from Bloomberg, Comcast is looking to help ease the Ticketmaster Live Nation merger by massaging and lobbying for the marriage. Comcast is the largest U.S. cable operator and controls an
arena-management as well as a ticketing company.
Concert Videos Come to iTunes in Live Nation-Apple deal Apple iTunes on Tuesday began featuring downloads of live concerts by about 20 artists who are promoted by Live Nation.
Seven Per Cent Drop in German Live Entertainment The German live entertainment market experienced a 7% drop in revenue
in 2008, according to research commissioned by the German Federal
Association of the live entertainment industry. The decline was even
sharper - 9% - in live music.
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Fredric D. Rosen, the man who built Ticketmaster from the ground up, says arenas and clubs should have more control over their ticket sales. And he recently told the New York Times that he aims to empower them - he has a new business in which he cuts out the middleman - that would be
Ticketmaster - and returns ticketing back in the hands of the arenas,
concert halls and clubs. His new firm, Montreal, Canada's