Live Nation Entertainment Inc Stock Price, News & Analysis

Live Nation Entertainment (NYSE: LYV) has elected Rich Paul, Founder and CEO of KLUTCH Sports Group, to its Board of Directors as of April 13, 2023. Paul, a prominent figure in sports management, brings extensive experience in guiding top athletes in their careers and brand ventures. His appointment is expected to enhance Live Nation's artist-centric approach, as noted by Chairman Greg Maffei and CEO Michael Rapino. Paul’s industry accolades include being named GQ's 2019 'PowerBroker of the Year' and recognition on Variety's 'Variety500' list. His influence is also highlighted by his role in reversing the 'Rich Paul Rule,' impacting NCAA regulations. The board's expansion aims to bolster the company's strategies in delivering value through live entertainment.

PayPal (NASDAQ: PYPL) and Live Nation Entertainment (NYSE: LYV) have entered a multi-year strategic partnership, designating PayPal as Ticketmaster's Preferred Payments Partner. This collaboration allows fans to use various PayPal payment options, including PayPal Pay Later and Venmo, across Ticketmaster's platform. Key features include enhanced security measures, quick checkout, and access to ticket add-ons like merchandise. This partnership aims to boost ticket sales by leveraging PayPal’s global reach, as studies indicate consumers are nearly three times more likely to complete a ticket purchase when PayPal is available at checkout.

GRAMMY Award-winning artist Kelly Clarkson will headline an exclusive engagement titled chemistry…an intimate night with Kelly Clarkson at the Bakkt Theater, Planet Hollywood Resort & Casino, starting on July 28, 2023. This intimate show, built for the venue, will showcase highlights from her extensive music career. Tickets go on sale on March 31, 2023, with presale options available for Citi cardmembers and Caesars Rewards members. Clarkson, known for her remarkable achievements including over 25 million albums sold, aims to create a memorable experience for fans in Las Vegas, echoing the city's vibrant energy.

Caesars Entertainment's live entertainment venue at Planet Hollywood Resort & Casino has been renamed to Bakkt Theater, effective March 24. This rebranding follows multimillion-dollar enhancements, including upgraded artist amenities and state-of-the-art audio capabilities. The venue, previously known as Zappos Theater, is set to host major acts, starting with Miranda Lambert's residency. The collaboration with Bakkt allows Caesars Rewards members to soon redeem credits through Bakkt's cryptocurrency solutions, pending regulatory approval. This partnership aims to enhance the customer experience and utilize Bakkt's cryptocurrency offerings.

Global music superstar Keith Urban has extended his Las Vegas residency at Zappos Theater in Planet Hollywood Resort & Casino through November 2023. Starting March 18, new ticket sales will be available, including presale options for fan club and Citi card members. Urban's show promises a two-hour musical journey featuring hits like "Somebody Like You" and "Blue Ain't Your Color," alongside new songs. The additional November dates include performances on November 1, 3, 4, 10, 11, 15, 17, and 18. Urban's residency showcases his acclaimed live performance skills and marks his return to the stage following an extensive tour in 2022.

Veeps, a premium concert streaming platform, has been recognized by Fast Company as one of the world's most innovative companies for 2023. This accolade highlights its advancements in streaming technology, including being the first to offer 4K and Dolby Atmos experiences. In 2022, Veeps facilitated over 40 shows a month across 180 countries, positioning itself as a high-velocity venue. The platform, founded by Joel Madden, aims to provide low-cost solutions for artists while partnering with Live Nation to upgrade live venues, enhancing audience reach. Veeps, part of Live Nation Entertainment (LYV), continues to reshape the live music experience.

Jeff Dunham and his characters announce six performance dates for the show "Still Not Canceled" at Zappos Theater, Planet Hollywood Resort & Casino. The shows are scheduled for May 28, July 16, September 3, October 22, November 12, and December 8, 2023. General ticket sales begin on March 4, 2023, with presales for fan club members starting on March 1 and for Caesars Rewards members on March 2. Dunham, notably a top-selling comedian, has earned significant acclaim and viewership through his specials and successful global tours.

Live Nation Entertainment (LYV) reported a strong 2022, with revenue up 44% to $16.7 billion and operating income up 125% to $732 million. Concert attendance rose 24%, reaching 121 million fans across 43,600 events. Investment in artists hit $9.6 billion, a 45% increase, supporting their income amidst declining revenue shares from other streams. Ticketing revenue climbed 45% to $2.2 billion, with significant growth in international markets. Looking ahead, 2023 shows have already sold over 50 million tickets, with deferred revenue starting at $2.7 billion. The company remains optimistic about ongoing growth, driven by strong demand for live events.