Monday, February 6, 2023
HomemediaLive Nation's CEO talks tackling competition, bots and terrorism

Live Nation’s CEO talks tackling competition, bots and terrorism

Live Nation may be the largest of all the concert companies, but it's also facing growing competition from a range of places.

CEO Michael Rapino insists he isn't concerned because his global business has so much reach, and also so much data about consumer behavior.

Earlier this week, Pandora laid out its plans to make ticket sales a big part of its new strategy to grow user revenue, by featuring its Ticketfly acquisition in its streaming music service. But Rapino thinks it doesn't make sense to market to people while they're listening to music — better to reach them via social or on search. Rapino said the company traditionally spent $3 million to $4 million on advertising for a concert, primarily on print, radio and billboards, and over 80 percent of that has shifted over to online.

"We want to be where the customer is already active: Facebook being one of the best converters for us, as well as Instagram. If you've already liked Rihanna on Instagram and you're following her, we use that data feed," said Rapino.

"It's been much more sharp-shooting, and we can go social, we can go where you are and where Rihanna is and drive conversion there. Much higher than you can on a Pandora or a radio station, which is a real shot that you're not going to really nail that Rihanna fan over that day," he said.

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