That being true, Rapino added that Live Nation expects to have additional safety protocols in place from now on, including reduced capacity, as well as touchless concessions and creative ways to apply our digital ticketing technology. He appears to be incredibly gorgeous and attractive, with dark brown eyes and black hair. For Travis Scott, he is facing backlash for being known to elicit unruly crowds at multiple of his shows, as well as watching an emergency vehicle in the crowd at his Astroworld set without bothering to stop the show. Theyve been together since 2002 and intend to spend the rest of their lives together. First of all, I just want to echo what Michael is saying and remember that the uplink on 5G, when you send up data when you send TikTok, etc., the limitation is basically on any technology except 5G. So the idea now that all of our venues will be lit up with this very efficient 5G, it's just going to make it so much better for the fan whether they just want to post a picture, TikTok or we can now start figuring out ways we can engage with that customer on site from upgrades to special merchandise to special access. House of Blues had a strong presence in the small venue market, featuring locations in Las Vegas, Chicago, and other cities with growing live entertainment markets. MICHAEL RAPINO: Well, first of all, thanks for joining Hans and appreciate having us on. House of Blues had a strong presence in the small venue market, featuring locations in Las Vegas, Chicago, and other cities with growing live entertainment markets. [14], In 2010, Live Nation merged with Ticketmaster, a live entertainment ticket seller. Striking a positive tone in his opening address on the earnings call, Rapino noted that Live Nation considers its top priority right now to be the health and safety of our employees, fans and artists. It was expected that this deal would be completed before the end of June this year, after being held up by regulators. DEIRDRE BOSA: Hey, Michael, it's Deirdre. And were going to play for the long safety of business. BOORSTIN: Now when you talk about extensions, I think it's notable that in this press release that just went out, you also talk about augmented reality features and also NFTs, NFTs Hans that you are going to give the opportunity for Verizon customers to acquire. Theyre all young men. As the shareholder vote was advisory and non-binding, Live Nations board will have the ultimate say on any future actions around executive compensation. As part of this effort, Michael Rapino himself agreed to sacrifice his $3m-a-year basic salary, until the point that the firms management deem it fiscally sensible for him to start getting paid again. But I wonder is big tech looking at it the other way around and could that potentially be a threat to your business? Michael Rapino, who sits at the head of the most powerful live entertainment company the world has ever seen, remains bullish on the future of the live industryeven after one of the most disastrous years ever for the global concert industry. During his tenure at Live Nation, Rapino oversaw the merger of Live Nation and Ticketmaster in 2010 to form Live Nation Entertainment, now the leading concert promoter and live entertainment company in the world. His principal source of income is his business. 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[9] He was later named CEO of Live Nation when it was spun off from Clear Channel in 2005. Importantly, even discounting that $2bn event-related deferred revenue figure, Rapino said: We believe that our free cash balance of $817m, together with our $963m of undrawn debt capacity, gives us sufficient liquidity to maintain critical operations for the remainder of the year, even in the extreme scenario that no major shows play off [in 2020].. Know her Daughter, son and husband, Shakira and Gerard Pique split and relationship A complete timeline, Girlfriend, Children. I want to take a step back from the news of the day and just look at what's going on more broadly in the economy right now. Rapiino has a quiet demeanor about him. Musics biggest companies are determined to better monetize superfans on streaming platforms. Submit the online request above to contact VIP services. [24], Rapino, in response to complaints about ticket prices, and a call for greater regulation and control and ticket prices from cure frontman Robert Smith, recently recommended that ticket prices should be like "buying a Gucci bag" stating that the average consumer could afford to buy such a luxury "once or twice a year" So it was no great shock that, on a constant currency basis, Live Nations revenues fell significantly in Q1 (the three months to end of March) by 20%. [26] In 2018, he served as an executive producer on the HBO documentary Believer, [27] and A Star is Born. All Rights Reserved. His base salary increased slightly to $1.3 million from $1.1 million, and he also earned a signing bonus of $6 million and an annual cash performance bonus of $2.5 million. On Instagram, he has 82.7k followers and 400 posts. Before becoming CEO of Live Nation, Rapino led several different divisions, including European Music and Live Nation International Music. RELATED:Astroworld Reportedly Hired Security With No Experience & Told Staff To Refer To Dead Attendees As 'Smurfs'. Nia Tipton is a writer living in Brooklyn. Those are great to watch on YouTube, but going to that show and having that [hair raising moment] where youre so excited, those are not duplicatable.. Everyone has to post that moment when they're there. President and CEO, Live Nation Entertainment. Jamie Gilbert is a businessman based in London, England, and a celebrity spouse. What is Michael Rapino's role in Live Nation Entertainment? In that vein, I wonder though who owns the customer. Rapinos accomplishments in his profession have been acknowledged by a variety of publications. After their first encounter, they continued to meet and grew closer. Following is the unofficial transcript of a CNBC interview with Live Nation Entertainment CEO & President Michael Rapino and Verizon CEO Hans Vestberg announcing a new Verizon and Live Nation 5G . Mark S. Gruskin and Kurt Rappaport of . Get this delivered to your inbox, and more info about our products and services. Other Representatives Jack Babnew Music Managers Emre Ergn Music Managers DayDay ThePrince Music Managers So that's our magic sauce, the two hours now. ISS actually estimates Rapinos 2022 compensation higher than what Live Nation published in its proxy at $156 million for the year. Rapino has been CEO since he launched Live Nation in 2005, after Clear Channel sold off the concert and sports units it had acquired from SFX founder Robert Sillerman (who had also acquired Rapinos concert promotion company) five years earlier. [2] Michael Rapino is the President and Chief Executive Officer of Live Nation Entertainment, and oversees the company's three divisions - Ticketmaster, Live Nation Concerts, and Live Nation. Submit the online request above to contact VIP services. This acquisition also extends our music venue portfolio into Canada and our amphitheater presence into key markets in the western United States, complementing our already strong East coast venues.. So were not looking to rush and provoke any new spread of the virus. Live Nation entered into a new employment agreement with Rapino in July 2022, ending Dec. 31, 2027, which meant he also earned a $6 million signing bonus. Management reserves the right to admission. And if you look at that, there there's so far no impact from what's happening in in Europe on that consumer base. Of course, at the time, Rapino probably wouldnt have been delighted to have the deal held up by Mexican regulators at the end of last year. Follow Michael Rapino on Twitter and Instagram, and read more on Crunchbase. Sign up for THR news straight to your inbox every day. Michael Rapino, Live Nation. He also will receive a $6 million signing bonus, and several time-based RSUs. He doesnt look like hes the father of three kids. Michael Rapino is best known for being the Chief Executive Officer and. Rapino was born and reared in Thunder Bay, Ontario, Canada in 1967, however, his exact birthday and month of birth are unknown. We see that on a global basis that the show will be back itll be back as big as ever from a consumer demand., Since the early days [of humankind], people have been gathering around artists, he said last week. Is Ben Savage Married ? Influential shareholder advisory groups Institutional Shareholder Services (ISS) and Glass Lewis recommended shareholders vote against Live Nations executive officers compensation, citing a misalignment between pay and performance in the structure of certain stock equity grants. [31], In 2015, Rapino was given an honorary doctorate of commerce from Lakehead University. Marc a first child with his wife Nadia Ferreira, is already a father of six children: Arianna, Chase, Cristian, Ryan, Emme, and Max, Ralph Pittman and Drew Sidora, stars of "The Real Housewives of Atlanta," have announced the end of their Marriage After Nearly 9 Years. In addition, in 2014, the couple welcomed their third child, Rexton Rapino, into their family. Scott has since announced that he will pay all funeral expenses for the victims, as well as launching a partnership with BetterHelp to offer attendees one month free of online therapy, although that move is being widely criticized. He has worked as an executive producer on a number of films, including A Star Is Born in 2018. That's what we're doing. There's economic uncertainty, certainly which which has a bigger impact in terms of Live Nation, what's going on in Europe with the Russian invasion of Ukraine. The Canadian exec said his company believes that this 90% retention rate is the clearest demonstration of pent-up demand that will enable us to quickly start concerts back up. Live Nation creates more events, sells more tickets, and connects more businesses to music than anybody else in the planet. Michael Rapino works for Live Nation. https://www.cnbc.com/video/2022/03/21/verizon-and-live-nation-ceos-announce-new-5g-partnership.html. BOORSTIN: Well, well, thank you so much for the business updates from you both and also for breaking the news of your partnership here on "TechCheck." We want to do it smart, with local participation., The MBW Review is supported by Instrumental, whichpowers online scouting for A&R and talent teams within the music industry. We're going to follow what's going to happen of course. Cumulus Media a Rare Winner in Off Week for Music Stocks. You may like to know more about Gossip, Bio, Dating, Relationship, Net worth, Salary, Husband, Girlfriend, Professional life, Social media, Rumors, Height, the weight of Alan Ritchson, David Conrad, Sarah Paulson, Sophie Arvebrink, and more. Their leading scouting platform applies AI processes to Spotify and social data to unearth the fastest growing artists and tracks each day. Michael Rapino net worth and salary: Michael Rapino is an American businessman who has a net worth of $120 million. When it comes to Rapinos family, he has remained tight-lipped about his parents and siblings for the time being. "Billboard Power 100's New No. Rapino helped expand Live Nation into a multinational organization with operations in over 40 countries around the world while serving as its President. On April 22, 2003, they married in a private ceremony in front of select guests and family members. [25], Rapino began producing films in 2015. Ryder James Rapino is the name of the young man. The other piece, of course, the trend that we see happening in the market. He was also interested in reading literature and business when he was a child. The couple now has three children to be proud of. After dating for over a year, they just want to start a new life together. And of course, we have a consumer base, base only in the US. [6] In the late 1990s Rapino founded Core Audience Entertainment, a concert promotion company that operated in Canada. Michael Rapino is a wealthy businessman with an estimated net worth of $120 million. He oversees the operations of Live Nation Productions, Live Nation Concerts and Ticketmaster, among other divisions. Subscribe for full access to The Hollywood Reporter. Perry Gershon is a successful businessman and politician. We all knew the headline figures were going to be bruising; this is a company, after all, that produced over 40,000 events around the world for more than 5,000 artists in 2019 an average of nearly 110 shows every single day. That pulled a bit, of course, all the new offerings. The best of MBW, plus the most important music biz stories on the web. Michael Rapino is the President and CEO of Live Nation Entertainment. [30][29] Rapino and Blalock founded the Rapino Foundation, an organization that assists populations in the developing world. Other implemented cost-cutting measures included the furloughing of staff, plus hiring freezes and putting a stop on marketing spend. They wanted to start a new life together after dating for about a year. He was born in 1967 in Thunder Bay, Ontario, Canada but his exact date of birth is unknown. Know about their Relationship, Affair, dating, songs, Taylor Swift upcoming tour, albums, songs, Boy Meets World Star Ben Savage Married his longtime girlfriend Tessa Angermeier. He has around 70k followers on Instagram and around 36k followers on Twitter but he is absent on Facebook. So I do believe that the pent-up demand over the last two years is going to power through any short term inflation issues. He spent ten years at Labatt's Breweries of Canada, working in various marketing and entertainment roles. As of May 31, only 1.5% of companies in the Russell 3000 index have failed Say on Pay votes so far this year, according to a report by Harvard Law Schools Forum on Corporate Governance. Michael Rapino, CEO of Live Nation Entertainment. In 2017, he was also named to the Rich list of World Impact Players, as well as the Variety500 profile of top entertainment business professionals. CEO and President of Live Nation Entertainment, Inc. Michael Rapino talks to members of the media at the Allen & Company Sun Valley Conference on July 7, 2021, in Sun Valley, Idaho. Now any ways that we can take that two hours and help market it, enhance it, complement it, we think that's great for our business and our fans and for the artist. 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