Live performance big and Ticketmaster proprietor Reside Nation Leisure has appointed Richard Grenell to its Board of Administrators.
Grenell was just lately appointed by Donald Trump as President of the John F. Kennedy Heart for the Performing Arts, following the termination of longtime President Deborah F. Rutter’s contract on the cultural establishment.
Trump was appointed Kennedy Heart Board Chair, changing former Chair David M. Rubenstein.
Grenell’s political profession contains serving because the US Ambassador to Germany throughout Trump’s earlier administration between 2018 and 2020.
He additionally served as Appearing Director of Nationwide Intelligence in 2020, and was beforehand appointed by Trump as Presidential Envoy for Kosovo-Serbia Negotiations.
Along with performing as President of the Kennedy Heart, Grennell presently holds the title of ‘Presidential Envoy for Particular Missions’ inside the Trump Administration.
Along with Grennell, Reside Nation’s Board contains: Randall Mays (Chairman of the Board), Maverick Carter (Co-Founding father of The SpringHill Firm), Ping Fu (Co-founder of Geomagic), Jeffrey T. Hinson (President of YouPlus Media), and Chad Hollingsworth (Senior Vice President, Company Improvement at Liberty Media Company).
It additionally contains: Jimmy Iovine (former music exec and producer, plus entrepreneur, Beats by Dre Co-founder), James S. Kahan (former AT&T exec), Greg Maffei (Liberty Media President and CEO) , Wealthy Paul (CEO and founding father of KLUTCH Sports activities Group), Michael Rapino (Reside Nation President and CEO), and Latriece Watkins (EVP of the Consumables division for Walmart US).
“We’re happy to welcome Ric to our Board,” mentioned Randall Mays, Chairman of the Board of Reside Nation Leisure.
“His background will carry a invaluable perspective as Reside Nation continues to contribute to a rising reside music business across the globe.”
“His background will carry a invaluable perspective as Reside Nation continues to contribute to a rising reside music business across the globe.”
RANDALL MAYS
“The ability of reside performances to carry individuals collectively whereas boosting native economies is transformative,” mentioned Grenell.
“I’m proud to hitch the board and help Reside Nation’s efforts to develop this constructive affect of live shows all over the world.”
“The ability of reside performances to carry individuals collectively whereas boosting native economies is transformative.”
RICHARD GRENELL
Along with selling reside occasions comparable to live shows and festivals, Reside Nation runs a ticketing enterprise by way of Ticketmaster, and owns and operates live performance venues.
Grennell’s appointment arrives a 12 months after the corporate was hit with an antitrust lawsuit from the US Division of Justice. The lawsuit alleged that Reside Nation “unlawfully workout routines its monopoly energy” and “thwarts competitors in markets throughout the reside leisure business.”
As of mid-Might, Reside Nation had offered 100 million tickets for 2025 – up from the 95 million the corporate reported only a few weeks in the past on its most up-to-date earnings name, in keeping with CFO Berchtold.
Earlier this month, Reside Nation CEO Michael Rapino predicted that 2025 can be “a historic 12 months for reside music,” regardless of the corporate’s income taking a tumble in Q1 amid overseas trade headwinds, a drop in non-concert exercise, and ongoing efforts to optimize pricing.
Deferred income – from occasions to happen later this 12 months – was up 24% YoY to $5.4 billion in Reside Nation’s Live shows section, whereas at Ticketmaster, it was up 13% YoY to $270 million.
General income at Reside Nation got here in at $3.38 billion within the quarter ended March 31, down 11% YoY or 8% YoY at fixed forex. That fell in need of a $3.62 billion forecast.
Moreover, 85% of all anticipated sponsorships for 2025 have been dedicated, up by double digits from final 12 months, Reside Nation mentioned.
“Ticket gross sales are pacing nicely forward of final 12 months, with deferred income for each live shows and ticketing at file ranges. To help much more followers seeing their favourite artists, we’re persevering with to develop our international venue community, including 20 main venues by 2026,” Rapino mentioned in a observe to traders.
“As the worldwide expertise economic system grows, the reside music business is main the way in which, and we’re positioned to compound progress by double-digits over a few years,” he added.Music Enterprise Worldwide
