Since being spun off of Clear Channel, Live Nation has gone on to lose almost a billion dollars since 2005. While there’s probably some sort of correlation between live music and the economy, to have lost $950 million over the past eight years is still astounding.
What’s even worse is that their CEO Michael Rapino hasn’t felt the pinch one bit, making over $28 million last year when his company lost 150+.
However the company may finally be turning around in 2013 given that they’ve only lost $5.1 million and are closely approaching being profitable. Now if only the rest of us could get a job where we get to spend $950 million to find out how to make a little money.
via DigitalMusicNews
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