According to Live Nation's Q2 2009 Earnings Call for investors, the concert industry seems to be doing pretty well despite the fact that it's down a little:
Overall, for the quarter our revenue per fan was $78.16 compared to $81.82 in the second quarter of last year. The drop of 4.5 is all because of declines in our revenue due to currency changes. On a constant currency basis our 2009 revenue per fan would have been $84.24, an increase of 3%.
I'm not exactly sure how that "revenue per fan" calculation is derived, but it sounds to me like people are paying an average of about $80 per ticket for Live Nation concerts these days. I tend to avoid big shows like that, but damn, does that sound right? Is that what you people are paying? Or is this just the U2, Madonna, Jay-Z and Nickelback crowd?
And what do you suppose is going to happen to that "revenue per fan" line item once Live nation inevitably merges with Ticketmaster?
Via Billboard.
Previously: Ticketmaster/Live Nation vs. Senate Judiciary Committee; Senate Urges Review of Ticketmaster-Live Nation Merger. And, coincidentally, on this same day in 2001 we were discussing which bands we'd "be willing to pay $30 to see" (Fuck Ticketmaster, 2001).
Comments
I think this is funny from our Fuck Ticketmaster post of 2001:
We only came up with about two artists; who they were escapes me right now. (I know we did agree that if David Lee Roth toured with Van Halen, we'd go, but that's beside the point.)
As we all know, VH did tour with David Lee Roth and I am almost positive none of the GLONO crew went to see them.
Granted, the ticket price was likely more than $30 (I'd have to Google to confirm and who ahs time for that??), but still...careful what you wish for.
Yeah, but I think we never imagined that they'd replace Michael Anthony on bass with Eddie's tubby kid. Dealbreaker.
In looking through their financial statements, it appears that "revenue per fan" includes side income at events (about $18 per fan in the latest quarter) and event sponsorship, which I suppose is those Budweiser or whatever banners you see at concerts.
Here's an idea. Don't go.