Live Nation’s share price reaches all-time high
The share price of live entertainment behemoth Live Nation has scaled new heights this week, despite the fact the vast majority of live shows have not been able to take place for the past 10 months.
On Tuesday (19 January), Live Nation’s share price hit an all-time high of US$76.54 – which has more than doubled since its slump to $29.50 in March last year, amid the cancellations and postponements of live shows.
The record-high share price comes after the company acquired a majority stake in Veeps, a ticketed livestreaming platform developed by Good Charlotte’s Joel and Benji Madden.
Veeps is Live Nation’s first major acquisition since the pre-Covid-19 era and a strong indication that livestreamed concerts are here to stay.
Live Nation’s share price hit an all-time high of $76.54 after the live entertainment giant acquired a majority stake in Veeps
“Livestreaming is a great complement to our core business, and essentially gives any show an unlimited capacity,” said Live Nation CEO, Michael Rapino.
“Looking to the future, live streams will continue to unlock access for fans – whether they are tuning into a sold-out show in their hometown, or watching their favourite artist play in a city halfway around the world. The most critical element of live streaming is the artist on stage, and with Live Nation’s unmatched inventory feeding into Veeps, together we will help fans enjoy more live music than ever before.”
Live Nation’s stock has steadily climbed after its 52-week low in March 2020, with the company offering drive-in shows, live streams, and new content through its Live From Home virtual music hub throughout the pandemic.
In November last year, following early results from the world’s first effective coronavirus vaccine, Live Nation share price soared by 22%.
Prior to that, Live Nation-owned Ticketmaster unveiled SmartEvent, a new suite of technology will equip event organisers to meet the evolving needs of capacity, distancing and other logistics.
Live Nation’s share price stood at $74.59 yesterday (21 January).
Ticketmaster clarifies confusion around digital health pass
Live Nation-owned ticketing giant Ticketmaster has addressed confusion around reported plans to check fans’ vaccine or test status for concerts.
Following early results shared on Monday of the world’s first effective coronavirus vaccine which could prevent more than 90% of people from getting Covid, the ticketing platform is exploring the potential of syncing with third-party healthcare providers to link covid vaccine status and/or test results to fans’ digital tickets.
However, the company has clarified that there is “absolutely no requirement from Ticketmaster mandating vaccines/testing for future events” and that it “does not have the power” to set policies around such safety/entry requirements – which are up to the discretion of the event organiser.
Should the company progress with plans for a digital health pass, all health information would legally have to be stored with a 3rd party health care provider with HIPAA compliance, not with Ticketmaster.
“We imagine there will be many third-party health care providers handling vetting – whether that is getting a vaccine, taking a test, or other methods of review and approval – which could then be linked via a digital ticket so everyone entering the event is verified,” says Ticketmaster president Mark Yovich.
“Ticketmaster’s goal is to provide enough flexibility and options that venues and fans have multiple paths to return to events, and is working to create integrations to our API and leading digital ticketing technology as we will look to tap into the top solutions based on what’s green-lit by officials and desired by clients.”
“We imagine there will be many third-party health care providers handling vetting which could then be linked via a digital ticket”
While Live Nation CEO Michael Rapino recently said in the company’s Q3 earnings call: “We are working on a roadmap to get back to live safely. We are encouraged by progress on testing technology treatments and vaccines which will help us build our plans.”
Meanwhile, the ticketing giant has been developing SmartEvent, a new suite of technology to help event organisers adapt to Covid-19 protocols and safely welcome fans back to events.
While Ticketmaster says it’s merely exploring the idea of a digital health passport of sorts, the UK’s Premier League is close to agreeing a blueprint with the government for a similar premise, according to The Telegraph.
Chief executive Richard Masters has apparently told Whitehall the league wants to be at the forefront of a road map for sports, concert halls and festivals and has repeatedly suggested digital passports.
The UK has already ordered 40 million doses – enough to vaccinate up to 20 million people as each person will need two doses for it to work effectively.
Speaking on BBC Breakfast, earlier this week, health secretary Matt Hancock said it is “absolutely a possibility” that the vaccine would become available before Christmas but he expects a mass roll-out “in the first part of next year”.
Ticketmaster unveils SmartEvent technology
Ticketmaster is launching a suite of technology to help event organisers adapt to Covid-19 protocols and safely welcome fans back to events.
SmartEvent will equip operators with technology to reconfigure seating arrangements based on capacity restrictions and ticket demands; give fans specific arrival times and entryways to manage the flow of people into the venue; help manage lines and avoid congestion; and send push notifications to visitors with real-time information such as which entry gate has the shortest queue.
“We know that fans around the world are eager to return to live events and SmartEvent gives event organisers an array of solutions to help make that possible,” said Mark Yovich, president of Ticketmaster.
“SmartEvent brings together our advanced technology platform and industry-leading venue and seating insights, putting Ticketmaster in the unique position to facilitate paths back to live.”
“Fans are eager to return to live events and SmartEvent gives organisers an array of solutions to help make that possible”
SmartEvent will also provide organisers with a number of contactless solutions including contactless box office and contactless scanners to help with faster entry.
The Secure Ticket Transfer will allow each fan to have their own ticket, which will also help with faster entry, but organisers will still know every fan in the building, even if the ticket changed hands multiple times after the initial on sale on Ticketmaster or other ticketing platforms.
This will act as a track-and-trace solution for organisers, giving them the ability to provide information to local bodies.
The ticketing giant is also working with event organisers and venues as they consider how and when to integrate Covid-19 test results and diagnostics partners as a criteria for entry to live events.