Music To The Street's Ears "Ticket prices have been rising at an annual rate of 7% over the past five years. Great news for the Gods of Rock, who, like most bands, make more money touring than selling cds or singles. But ticket sales have fallen 3% annually over the past five years, and it doesn't take a scalper to know that you can raise prices only so far before fans start staying home and watching concert footage on YouTube ...
"Still, Live Nation, which operates 172 venues around the world, isn't waiting around for big acts to become too creaky to tour. It is looking to bolster its business with smaller shows put on by younger bands. In 2006 it acquired rival House of Blues Entertainment, whose theaters and clubs seat fewer than 2,000. Thanks to a surge in smaller shows, the number of U.S. concerts held each year rose from 5,000 in 2000 to 14,000 in 2006, according to Goldman, Sachs & Co. (GS ) That's largely why Live Nation is focusing on music, shedding divisions promoting sports events, Las Vegas productions, and speaking tours. 'At the end of the day,' says ceo Michael Rapino, "we want to go much deeper into music at the local level."
"At the same time, Live Nation is looking at selling underperforming arenas, focusing instead on the halls in the top 20 U.S. cities."
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