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☆ BuzzFeed in Advanced Talks to Sell Complex, Backtracking on Digital Media Bet
▼ + stars: | 2023-10-27 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

BuzzFeed is in advanced talks to sell Complex Networks, the streetwise digital media company behind the popular ComplexCon cultural festival, at less than half the price it paid for the company two years ago, a sign of the industrywide troubles afflicting digital media. BuzzFeed paid about $300 million for Complex in 2021. Buzzfeed is planning to keep First We Feast, the division of Complex responsible for the popular “Hot Ones” interview franchise, after the transaction, one of the people said. When BuzzFeed went public two years ago, it made Complex a centerpiece of its pitch to investors. Complex was reliably profitable, a milestone that had eluded many in the digital media industry, and its portfolio of brands seemed a natural fit for BuzzFeed’s focus on young audiences.

Persons: BuzzFeed, Buzzfeed Organizations: Networks, LiveNation Entertainment, Main Street Advisors, YouTube

☆ Ticketmaster’s hidden fees remain common long after it vowed to scrap them
▼ + stars: | 2023-10-25 | by ( Noah Pransky | ) www.cnbc.com time to read: +5 min

In this photo illustration, A Ticketmaster ticket is shown on a cellphone on November 18, 2022 in Miami, Florida. Klobuchar asked the company to provide an update on its price transparency efforts by Oct. 31. Live Nation didn't immediately respond to a request for comment on her letter. New York, Connecticut and Tennessee have each passed ticket transparency laws, requiring all ticket sellers to display total prices upfront in searches. As a result, Live Nation doesn't let venues hide fees in those states.

Persons: Sen, Amy Klobuchar, Michael Rapino, Klobuchar, didn't, Kenny Loggins, Biden Organizations: Ticketmaster, Biden, NBC, NBC News, Live Nation Entertainment, Nation, Live Nation, Administration, White, Congress Locations: Miami , Florida, Los Angeles, New York , Connecticut, Tennessee

☆ These underperforming stocks are due for a fourth-quarter comeback, according to Wall Street
▼ + stars: | 2023-10-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

After a rocky third quarter, these stocks could be poised for a bounce back in the final stretch of 2023, according to Wall Street. Stocks struggled over the last three months as yields rose , 2023's popular technology trade hit a wall and the Federal Reserve indicated that rates may stay elevated for longer . Amid this backdrop, CNBC Pro screened for underperforming stocks that may be due for a comeback in the fourth quarter. MSFT 3M mountain Microsoft shares over the last three months Wall Street sees more upside ahead for both companies even after surging this year on enthusiasm surrounding the technology. A handful of cruise stocks that have struggled in recent weeks amid the jump in fuel prices also made the cut.

Persons: Stocks, Pultegroup, — CNBC's Michael Bloom Organizations: Federal Reserve, Nasdaq, CNBC Pro, Microsoft, AMD, Carnival, Cruise Line, Royal, Entertainment, Oracle, Netflix Locations: Royal Caribbean

☆ Swifties crashed Google's '1989' vault puzzles within hours of their launch
▼ + stars: | 2023-09-20 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Taylor Swift recently partnered with Google to create a series of puzzles for fans to complete. Fans will be told the titles for unreleased "1989" tracks when 33 million puzzles have been solved. Within hours, the tech giant's puzzle feature had suffered technical difficulties. However, the puzzle feature, which was added to Google Search, suffered technical difficulties shortly after it launched. AdvertisementAdvertisementSharing a post from the Taylor Nation page, which announced the puzzles hours earlier, the company said: "Swifties, the vault is jammed!

Persons: Taylor Swift, Taylor Swift's, Swifties, Alexandria Ocasio, Cortez Organizations: Google, Service, Ticketmaster, Live Nation Locations: Wall, Silicon, Taylor, Alexandria

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Nvidia, Disney, Salesforce, Palo Alto & more
▼ + stars: | 2023-08-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Goldman Sachs reiterates Palo Alto Networks as buy Goldman said it's standing by its buy rating on the stock following its earnings report on Friday evening. Citi reiterates Snowflake as buy Citi said it's sticking with its buy rating heading into earning later this week. Bank of America reiterates Amazon as buy Bank of America said Amazon continues to gain share. Bank of America reiterates Walmart as buy Bank of America said Walmart is better positioned in the current environment over Target. Bank of America reiterates Salesforce as buy Bank of America said Salesforce is the "next quality GARP stock."

Persons: Goldman Sachs, Goldman, Snowflake, Morgan Stanley, Jefferies, Read, Tim Hortons, Burger King, Patrick Doyle, Salesforce, Baird, it's, Raymond James, Marvell, Scott Mlyn Organizations: Credit Suisse, Disney, Networks, Citi, Taiwan Semiconductor, Bank of America, of America, China, Volkswagen, VW, JPMorgan, Brands, Restaurant Brands, " Bank of America, Walmart, Nvidia, Live Nation Entertainment, CNBC Locations: New York

☆ Hedge funds are scrambling into these stocks with conviction, says Morgan Stanley
▼ + stars: | 2023-08-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Investors on the hunt for the new stock ideas may want to take a look at these name that garnered increased interest from hedge funds during the second quarter, according to Morgan Stanley. Here are some of the companies that made the list: Liberty Media experienced the largest uptick in ownership during the period, up 22.5%, according to Morgan Stanley's analysis. LSXMA YTD mountain Liberty Media shares year to date During the second quarter, Liberty Media remained among Baupost's top positions , with the Seth Klarman-led fund retaining a $486 million stake in the company. The company agreed to merge with UFC during the second quarter to create a new publicly traded company controlled by Endeavor . Shares have risen more than 63% this year, and ownership ticked up nearly 9% during the second quarter.

Persons: Morgan Stanley, Morgan, John Malone, Seth Klarman, Macy's, — CNBC's Michael Bloom, Yun Li Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Pfizer, Wrestling Entertainment, UFC, Endeavor Locations: Seagen

New York CNN Business —Taylor Swift’s era-defining “Eras” tour is flying like a jet stream, high above the music scene — by billions of dollars. The tour could gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided to CNN exclusively. ‘An economic phenomenon’“Taylor Swift’s ‘Eras’ tour is rewriting the playbook of entertainment economics,” said Chris Leyden, director of growth marketing at SeatGeek. “She’s not just a performer — she’s an economic phenomenon.”The average resale price of an “Eras” ticket was $1,607, SeatGeek told CNN. Swift kicked off the highly-anticipated “Eras” — her first tour since her “Reputation” stadium tour in 2018 — in March.

Persons: New York CNN Business — Taylor, QuestionPro, Swift, Elton John’s, Larry Miller, New York University Steinhardt, “, ”, Miller, concertgoers, Taylor, Chris Leyden, “ She’s, —, SeatGeek, “ Taylor, Terri Shoemaker, Taylor Swift, Hell, Swifties, “ We’ve, Ethan Chernofsky, That’s, it’s, I’ve Organizations: New York CNN Business, North, CNN, New York University, Swift, Arizona Food Bank Network, Retailers, Ticketmaster, Entertainment, Nissan Locations: Los Angeles, American, North America, Arizona, Philadelphia, Nashville , Tennessee, Arlington , Texas

☆ Stephen Mandel's Lone Pine Capital reveals new stakes in Nvidia and Live Nation
▼ + stars: | 2023-08-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Hedge fund Lone Pine Capital built large bets on two high-performing stocks during the second quarter, a new U.S. Securities and Exchange Commission filing shows. Shares of Live Nation are up more than 23% year to date, outperforming the S & P 500. The new additions came as Lone Pine trimmed many of its top holdings, including Workday and Amazon . Lone Pine added to its positions in Microsoft , Amazon and Taiwan Semiconductor in the fourth quarter of last year, just before the tech sector took off. The quarterly hedge fund filings do not show trading data that would reveal when Lone Pine sold or bought shares of any individual stock.

Persons: Lone Pine, Stephen Mandel, Verity, Mandel, Julian Robertson Organizations: Lone Pine Capital, . Securities, Exchange Commission, Entertainment, Nvidia, Booking Holdings, Mastercard, Devices, Tiger Management, Microsoft, Amazon, Taiwan Semiconductor, Lone Locations: Lone

☆ House Democrats see the Biden Administration's crusade against junk fees as a winning strategy for 2024 and are joining in on the fight against the 'hidden and deceptive' add-ons
▼ + stars: | 2023-08-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

In October 2022, the Biden Administration announced its plans to fight against hidden "junk fees." House Democrats now see it as a winning issue and are planning more than a dozen events addressing it. According to a recent report from the Associated Press, with assistance from the Progressive Change Institute, some House Democrats have already held events addressing junk fees and there are at least a dozen or more planned across the country. Speaking to the AP, House Speaker Hakeem Jeffries said that "House Democrats will continue to work with President Biden to fight these excessive fees, hold corporations accountable and lower costs for families across the country." The push from House Democrats comes at a time when the party is attempting to regain the majority in the House of Representatives, which it lost control of in the 2022 midterm elections.

Persons: It's, Biden, Hakeem Jeffries, Elissa Slotkin, Democratic Sen, Debbie Stabenow Organizations: Biden Administration, Ticketmaster, House Democrats, Service, Democrats, White House, Entertainment, Associated Press, Progressive Change Institute, AP, Democratic, Senate, Representatives Locations: Wall, Silicon, New York , Alabama

☆ D1 Capital slashes big tech holdings and adds new bet on hotels, real estate
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Sundheim also added 59% to a position in Jack Dorsey's Block in the second quarter, now worth $101 million. D1 also exited its position in tech giants Amazon , Alibaba and Salesforce in the second quarter, the filing showed, and sold 21% of a stake in Google parent Alphabet. Meanwhile, D1 added new semiconductor holdings. Elsewhere, D1 added to positions in General Electric , Insulet and Elevance Health . The firm managed about $27 billion at the end of the second quarter, according to WhaleWisdom.com , including about $5 billion in 13F securities.

Persons: Dan Sundheim's, Sundheim, Jack Dorsey's Block Organizations: Capital Partners, U.S . Securities, Exchange Commission, Facebook, Microsoft, AMD, Nvidia, General Electric, Elevance Health, Nation Entertainment Locations: Hilton

☆ Liberty SiriusXM shares get a shake-up. Here's a breakdown of the new structure
▼ + stars: | 2023-08-04 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Investing alongside Malone is complicated for individuals because Liberty Media has a string of tracking stocks for all its different businesses. The media conglomerate has two tracking stock groups: Liberty SiriusXM Group and Formula One Group. Liberty Media owns Formula One, which trades under tracking stock Liberty Media Formula One . Live Nation trades under its common stock ticker LYV, while's Liberty's share is available under the LLYVA and LLYVB tracking stocks. For the new Liberty SiriusXM tracking stocks LSXMK and LSXMA, the reclassification could help narrow the stock's wide discount to its net asset value, according to Citi.

Persons: John, Malone, SIRI, while's, BATRA Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Liberty SiriusXM Group, Formula One, Nation Entertainment, Live, Major League Baseball's, Atlanta Braves, Liberty Media Corp, Nasdaq, Liberty, Citi Locations: New York

☆ Cramer's Lightning Round: Hold Live Nation Entertainment
▼ + stars: | 2023-08-02 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Enovix's year-to-date stock performance. Stock Chart Icon Stock chart icon RTX's year-to-date stock performance. Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon Live Nation Entertainment's year-to-date stock performance. Stock Chart Icon Stock chart icon Vertiv's year-to-date stock performance.

Persons: I'm, Greg Hayes, I've

Companies Live Nation Entertainment Inc FollowJuly 28 (Reuters) - The U.S. Department of Justice could file an antitrust lawsuit against concert promoter Live Nation Entertainment (LYV.N) and its unit Ticketmaster by the end of the year, Politico reported on Friday, citing three people with knowledge of the matter. Shares of Live Nation dropped 5% in extended trading on Friday. The potential lawsuit could claim that the entertainment giant is abusing its power over the live music industry, Politico reported, adding that the timing of the case was not firm and the DOJ could decide to drop it. Live Nation and the DOJ did not immediately respond to Reuters requests for comment. Reporting by Urvi Dugar and Yuvraj Malik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Taylor Swift's, Urvi Dugar, Yuvraj Malik, Devika Organizations: U.S . Department of Justice, Entertainment, Ticketmaster, Politico, DOJ, Thomson Locations: Bengaluru

☆ What we hope to see from 9 Club stocks out with earnings in the week ahead
▼ + stars: | 2023-07-22 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.

Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk

☆ Saudi golf shot plays through CFIUS hazards
▼ + stars: | 2023-07-14 | by ( Jennifer Saba | ) www.reuters.com time to read: +8 min

U.S. congressional lawmakers scrutinized PGA Tour officials on Tuesday this week about the group’s tie-up with a rival golf tournament owned by Saudi Arabia. Enter the Saudis, who launched an upstart golf tournament last year, LIV Golf, that competed with the U.S.-based PGA Tour and its European counterpart DTP. There are worries that Saudi Arabia, a regime viewed as hostile to women and LGBTQ groups, would have significant sway over golf’s culture. LIV Golf is owned by Saudi Arabia Public Investment Fund. Former AT&T Chief Executive Randall Stephenson resigned from the PGA Tour policy board, the Washington Post reported on July 9.

Persons: State Condoleezza Rice, Darla Moore, Covid, LIV Golf, Phil Mickelson, Brooks Koepka, Yasir Al, Ed Herlihy, Wachtell, Lipton, Katz, hasn’t, Randall Stephenson, Jamal Khashoggi, ”, Richard Blumenthal, –, Sherrod Brown, Maxine Waters, Janet Yellen, LIV Golf’s, Joe Biden hasn't, Saudi Arabian Crown Prince Mohammed bin Salman, Khashoggi, Uncle Sam, Refinitiv, China’s ByteDance, LIV, Stephenson, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Public Investment Fund, Augusta National Golf Club, State, U.S, PGA, LIV, Rosen, Breakingviews, Former AT, PGA Tour, Saudi, Department of Justice, Foreign Investment, U.S . Treasury, Saudi Arabian Crown, Walmart, Visa, Uber Technologies, Nation Entertainment, National Basketball League, Houston Rockets, People’s, NBA, backtrack, FIFA, Qatar, The Justice Department, Treasury, Committee, Homeland Security, Governmental Affairs, Saudi Arabia Public Investment Fund, T, Washington Post, Thomson Locations: Saudi Arabia, United States, American, U.S, South Carolina, Iran, China, Saudi, Hong Kong, People’s Republic, Beijing

☆ Ticketmaster Pauses Taylor Swift’s Eras Tour Sale in France
▼ + stars: | 2023-07-11 | by ( Ben Sisario | More About Ben Sisario | ) www.nytimes.com time to read: +1 min

Ticketmaster has once again cracked under the weight of a Taylor Swift ticket sale — this time in France. As French fans prepared on Tuesday to purchase tickets to six concerts in May and June 2024 on Swift’s Eras Tour — four shows in Paris, two in Lyon — Ticketmaster’s website displayed a gigantic queue of customers ready to buy; one screenshot appeared to tell a fan that 1,023,504 shoppers were in line ahead of them. Soon, Ticketmaster announced that sales for those shows had been placed on “pause.” The company gave no explanation, but said that a new on-sale time would be announced, and that “all codes not already used will remain valid.” But some fans’ social media posts seemed to show technical errors on Ticketmaster’s website, including a progress icon that “keeps spinning and spinning and spinning,” as one fan — speaking English with an American accent, but with 762 euros’ worth of tickets in their shopping cart — put it. Representatives of Ticketmaster and its corporate parent, the concert giant Live Nation Entertainment, did not immediately respond to a request for comment.

Persons: Taylor Swift Organizations: Ticketmaster, Entertainment Locations: France, Paris, Lyon

☆ Ticketmaster has a total stranglehold on the live event industry. Here's how some states are trying to break that.
▼ + stars: | 2023-07-10 | by ( Madison Hall | ) www.businessinsider.com time to read: +8 min

Rafael Henrique/SOPA Images/LightRocket via Getty ImagesA California legislator is trying to strike back at Live Nation Entertainment's grip on the live events space. It was actually the ticket-buying experience for a minor-league hockey game that could lead to a large legislative setback for Live Nation Entertainment. The extent of Live Nation Entertainment's graspIn June, the American Economic Liberties Project released a report detailing the extent of the stranglehold Live Nation Entertainment has on the live events industry. Brown explained to Insider that Live Nation Entertainment has been able to become so powerful in the industry as it's vertically integrated very effectively. Live Nation Entertainment is under federal pressureThe federal government is also cracking down on Ticketmaster's reign in the entertainment industry.

Persons: Rafael Henrique, California Sen, Scott Wilk, Sen, wasn't Taylor, Wilk, Pat Garafolo, Krista Brown, Brown, Joe Biden, Samuel Corum, Amy Klobuchar, Richard Blumenthal, Klobuchar, It's, Blumenthal Organizations: Getty, California State Senate, Service, Nation Entertainment, Ticketmaster, California Senate, American Economic Liberties, Entertainment, Department of Justice, DOJ, Federal Trade Commission, Live, New York Times, Live Nation Entertainment Locations: California, Wall, Silicon, United States, AFP, Minnesota

The cost of certain goods is retreating in some places, but that doesn't include live music. Concert tickets have surged in price, to the point where economists are noticing. While ticket prices have increased, he said, mid-year figures haven't shown an appreciable rise since May 2022, when U.S. inflation was 8.6%. In India, fans are happy to pay a premium for quality entertainment, according to Owen Roncon, chief of business for Live Entertainment at BookMyShow. In Britain, about 150,000 music fans paid 340 pounds ($431)for a ticket to June's Glastonbury festival to see Elton John and hundreds of other acts.

Persons: Taylor Swift, Bruce Springsteen, haven't, Mario Ihieme, Paul Donovan, Harry Styles, Joel Barrios, Carolina Candelas, Andy Gensler, Pollstar, TD Cowen, Stephen Glagola, Elton John, Jason Cairnduff, Bruno Mars, Coldplay, Fairuz Zahari, Ed Sheeran, Owen Roncon, Eventbrite, Michael Rapino, Beth Cook, Dawn Chmielewski, Danielle Broadway, Sachin Ravikumar, David Milliken, Sharon Kimathi, Rozanna, Radhika Anilkumar, David Gaffen, Catherine Evans Organizations: LOS ANGELES, National Statistics, UBS Global Wealth Management, Stubhub, Ticketmaster, REUTERS, U.S . Labor Department, Backstreet, Live Entertainment, Backstreet Boys, Entertainment, Thomson Locations: Asia, U.S, GLASTONBURY, England, London, Seattle, Mexico City, Los Angeles, Europe, Barcelona, Glastonbury, Somerset, Britain, Malaysia, Australia, India, Leeds, Kuala Lumpur, Bangalore

The cost of certain goods is retreating in some places, but that doesn't include live music. Concert tickets have surged in price, to the point where economists are noticing. Event prices in UK inflation data are based on when shows take place, not when tickets are bought. While ticket prices have increased, he said, mid-year figures haven't shown an appreciable rise since May 2022, when U.S. inflation was 8.6%. The U.S. Labor Department does not specifically measure inflation for concert prices, but the inflation rate for live performing admission events is currently 2.6 percentage points more than U.S. headline inflation.

Persons: Taylor Swift, Bruce Springsteen, haven't, Mario Ihieme, Paul Donovan, Harry Styles, Joel Barrios, Carolina Candelas, Andy Gensler, Pollstar, TD Cowen, Stephen Glagola, Bruno Mars, Coldplay, Fairuz Zahari, Ed Sheeran, Owen Roncon, Eventbrite, Michael Rapino, Elton John, Beth Cook, Dawn Chmielewski, Danielle Broadway, Sachin Ravikumar, David Milliken, Sharon Kimathi, Rozanna, Radhika Anilkumar, David Gaffen, Catherine Evans Organizations: LOS ANGELES, National Statistics, UBS Global Wealth Management, Stubhub, Ticketmaster, U.S . Labor Department, Backstreet, Live Entertainment, Backstreet Boys, Entertainment, Thomson Locations: Asia, U.S, GLASTONBURY, England, London, Seattle, Mexico City, Los Angeles, Europe, Barcelona, Malaysia, Australia, India, Britain, Leeds, Glastonbury, Kuala Lumpur, Bangalore

☆ New report shows Ticketmaster controls the vast majority of the live event business, and any promises of 'transparency' just mean they'll overcharge concertgoers more brazenly
▼ + stars: | 2023-06-17 | by ( Madison Hall | ) www.businessinsider.com time to read: +6 min

Live Nation Entertainment announced new "transparent" pricing where it will display fees at the beginning of the transaction. While this has been on Biden's agenda for months, he hasn't addressed the grip Live Nation Entertainment has on the entertainment industry. Republican state Sen. Scott Wilk introduced a bill in early 2023 to ban exclusivity contracts in the ticketing industry. Ultimately, she said, it's up to the Department of Justice to investigate and potentially take action on Live Nation Entertainment. According to the New York Times, the DOJ opened an antitrust investigation into Live Nation Entertainment in late 2022.

Persons: hasn't, —, Biden, Krista Brown, Sen, Scott Wilk, Wilk, Brown Organizations: Nation Entertainment, Service, Ticketmaster, American Economic Liberties, Nation, Congress, Entertainment, California's State Senate, Department of Justice, New York Times, DOJ, Live Nation Entertainment Locations: United States, California's

☆ Live Nation and Ticketmaster pledge to show you exactly how many fees you're paying on concert tickets up front
▼ + stars: | 2023-06-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

President Joe Biden will meet Thursday with companies like Live Nation to discuss "junk fees." Before meeting, Live Nation, Ticketmaster, and SeatGeek agreed to show all additional fees up front. Live Nation Entertainment — made up of Live Nation and Ticketmaster — is doing away with unexpected "junk fees" amid pressure from frustrated concertgoers and President Joe Biden. Prior to the meeting, both Live Nation and SeatGeek agreed to show any additional fees up front during ticket purchases. "It is also just a first step towards addressing junk fees in the economy."

Persons: Joe Biden, SeatGeek, —, concertgoers, Biden, Taylor Swift, Drake, Robert Smith Organizations: Ticketmaster, Morning, Nation, Live, White, Department of Justice, Nation Entertainment

☆ Biden to announce Live Nation and Ticketmaster will allow consumers to see all fees up front
▼ + stars: | 2023-06-15 | by ( Sam Fossum | ) edition.cnn.com time to read: +3 min

“President Biden has been working to lower costs for hardworking families by bringing down inflation, capping insulin prices for seniors, and eliminating hidden junk fees,” said National Economic Council Director Lael Brainard in a written statement. These include Live Nation, SeatGeek, xBk, Airbnb, the Pablo Center at the Confluence, TickPick, DICE, and the Newport Festivals Foundation. Ticketmaster has also promised to add a feature to allow customers to see the full price upfront for all other tickets sold on its platform. Live Nation and Ticketmaster merged to form Live Nation Entertainment in 2010. It is also just a first step towards addressing junk fees in the economy,” a White House fact sheet states.

Persons: Joe Biden, “, Biden, ”, Lael Brainard, ” Biden Organizations: CNN, Ticketmaster, Economic, White, Pablo Center, Newport Festivals Foundation, House, Entertainment, Biden’s Transportation Department, Competition Locations: SeatGeek, Iowa

☆ House lawmakers introduce bipartisan bill requiring total disclosure of ticketing fees
▼ + stars: | 2023-06-08 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Lawmakers introduced a new bill on Thursday targeting ticketing fee disclosures in an effort to increase transparency in the entertainment industry. The "Transparency in Charges for Key Events Ticketing Act,'' or TICKET Act, is modeled after current advertising guidelines for airline tickets, which require disclosing the full ticket price before purchase. With every ticketing debacle, from Beyoncé to Taylor Swift, and so many more, their frustration grows," Schakowsky said in a statement. The House bill mirrors the Senate measure in mandating ticket vendors to display the total price of a ticket, including all required fees, in any advertisement or piece of marketing. Bilirakis said the bill will bring "much-needed transparency to the whole ticketing industry."

Persons: Jan Schakowsky, Gus Bilirakis, Taylor Swift, Schakowsky, Sens, Ted Cruz, Maria Cantwell, Biden, Cantwell, Bilirakis, Taylor Organizations: WASHINGTON — Lawmakers, Senate, New York, Office, Ticketmaster Locations: Beyoncé, Texas

☆ These stocks are breaking out to the upside and may be poised for further gains
▼ + stars: | 2023-05-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The market may be trading in a tight range, but some stocks are breaking out of the sideways action to the upside, according to a closely watched technical indicator. Some stocks, however, are bucking this trend, and showing some momentum to the upside by closing above their 50-day moving averages. Cruise stocks dominated the list of names that punched above their 50-day averages last week. Other cruise and entertainment stocks also closed above their 50-day last week, including Norwegian Cruise Line , Carnival Cruise and Live Nation Entertainment . The stocks gained 6% and 1.9% for the week to close above their 50-day moving averages of $60.24 and $40.20, respectively.

☆ Live Nation posts record $3 billion revenue amid backlash from concertgoers over Ticketmaster prices and accessibility
▼ + stars: | 2023-05-06 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Live Nation Entertainment reported this week it earned $3.1 billion in revenue in the first quarter of 2023. The ticket giant also reported it's sold a record-breaking 90 million tickets for 2023 shows year-to-date. Live Nation, the parent company of Ticketmaster, predicted that 2023 could be the "biggest year of live music ever." Live Nation Entertainment CEO Michael Rapino attributed the record-breaking growth to the star power of musicians who sent fans into a buying frenzy with tour announcements. The company has also faced ire from Bruce Springsteen and The Cure fans, who complained about high prices and additional fees for shows.

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