Skip to main content

Despite the billion dollar loss shouldered by Live Nation Entertainment this last year, the company's CEO, Michael Rapino, has high hopes for 2021. He cites the imminent influx of demand for post-pandemic live events as a driving force expected to propel the events hub through "the light at the end of the tunnel," according to IQ Magazine.

Given the recent success of Live Nation's stocks, it appears their predictions may not be unfounded. On February 25th, share prices skyrocketed above the $90 mark for the first time in the company's history, reaching $91.80. IQ notes that this is nearly $15 higher than the price pre-pandemic. The change may have been spurred by the 48 hour-sellout of Live Nation-produced festival Creamfields, for which Alesso, Carl Cox, Nina Kraviz and Afrojack are scheduled to appear. 

"It appears that the timing to release [fans'] pent-up supply and demand is now approaching," Rapino explained. "They are excited to get back to the show as soon as we get the green lights in these markets to open up." 

Keeping his eyes on the future, Rapino predicts 2022 will be a massive year for international tours, with nearly double the typical amount of major touring artists set to be on cycle that year. However, it's all dependent on local vaccine availability: "For both the US and UK, projections indicate that everyone who wants a vaccine will be able to get one by May or June, with Europe and most other markets following a few months later," he said.

Recommended Articles

D-Block & S-te-Fan

D-Block & S-Te-Fan Release Euphoric "Enter Your Mind" Album On Scantraxx Records

The two-disc album is chock full of nostalgic hardstyle originals and remixes.

illenium sueco

ILLENIUM Goes to the Dark Side With Ferocious "Heavy Edit" of New Collab With Trippie Redd and Sueco

Prior to Friday's release of the original "Story Of My Life," ILLENIUM has unveiled a raucous, dubstep-influenced version of the pop-punk and emo rap crossover.

sts9

STS9 Announce "Walk The Sky" 2022 Colorado Run

The jamtronica five-piece will conclude their concert trilogy with two "Walk The Sky" performances at Red Rocks followed by a "Day Out Of Time" show at Levitt Pavilion.

On the financial side of things, it appears Live Nation has weathered the storm, providing the liquid capital necessary to facilitate a major rollout of events. This success can be attributed to various cost savings and restructuring plans, investments in virtual concerts, and the recent acquisition of streaming platform Veeps, Rapino said, perhaps providing a model for other events companies to follow. 

Source: IQ Magazine

Related

Live Nation

Live Nation Announces Revised Refund Policy for Ticketholders

Live Nation's CEO took to Twitter to share the good news.

General

Live Nation Sees Path to Resuming Live Shows at Scale By Summer 2021

"We are working on a roadmap to get back to live safely."

women nation fund

Live Nation Announces Women Nation Fund set to Invest In Female Run Music Businesses

Run in conjunction with the Annenberg Inclusion Initiative by the University of Southern California, Live Nation is putting their money where their mouth is and taking major steps towards equality in the music biz.

BigCityBeats WORLD CLUB DOME Drive-In

Live Nation UK Cancels Drive-In Concert Tour Less Than Three Weeks After Announcement

The entertainment company cited potential local lockdowns as its main source of concern regarding the tour.

swedish house mafia

Swedish House Mafia Concert-Goers Will Be the First to Experience Live Nation's NFT Ticket Stubs

Live Nation has a solution to seamlessly integrate artists into the NFT game.

Photo by Sebastian Ervi

AEG Presents Launches New Sustainability Initiative, Climate Positive Touring

The initiative will primarily seek to reduce tour-related carbon emissions to net zero or better.