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Xtina Fans Online
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October
02
2010 |
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Filed under: Recent Headlines
Leave a comment | 0 Comment | Join Xtina-Forum.com for further more discussion
The concert business will end 2010 on a sour note, Live Nation Executive Chairman Irving Azoff told analysts today.
“We’re still not seeing a consumer recovery” in ticket sales, after a summer when revenues declined, Azoff said at a meeting organized by Liberty Media. Liberty owns 14% of Live Nation, the No. 1 owner of concert halls and, with Ticketmaster, an e-commerce powerhouse.
Next year may improve, he said, as hitmakers who sat on the sidelines in 2010 plan major tours. He’s especially optimistic that the cast of the TV showGlee, Van Halen, Avril Lavigne, Christina Aguilera, and Fleetwood Mac will fill arenas and ampitheaters.
But Live Nation hopes to boost its profits by upselling consumers — encouraging people who buy concert tickets to also spring for the performer’s recorded music, a DVD of the concert, T-shirts, ringtones, posters, books, and banners.
“We intend to become the Amazon of the music business,” Azoff said.
He joked about, but shed no light on, reports that a board-level power struggle prompted Barry Diller to announce this week that he’s resigning as Live Nation’s chairman. Diller said that he planned to leave a year after helping Live Nation and Ticketmaster to merge. Azoff went to Twitter to say that the press reports are “ridiculous.”
Source: USA Today
This entry was posted on Saturday, October 2nd, 2010 at 5:53 am and is filed under Recent Headlines. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
