Michael Rapino

Last updated
Michael Rapino
Born (1965-05-01) May 1, 1965 (age 59)
Thunder Bay, Ontario, Canada
Alma mater Lakehead University (BBA)
OccupationCEO of Live Nation Entertainment
Spouse
​
(m. 2003)​
Children3

Michael Rapino (born 1965) is a Canadian-American businessman and the CEO and president of Live Nation Entertainment, Inc, which was formed in 2010 following the merger of Live Nation and Ticketmaster.

Contents

In the late 1990s, Rapino co-founded Core Audience Entertainment, a concert promoting company, and later held several roles at Clear Channel Entertainment. He was named CEO of Live Nation in 2005.  

Early life and education

Michael Rapino was born in Thunder Bay, Ontario, [1] to a Catholic-Italian family [2] and earned a bachelor of business administration degree from Lakehead University in 1989. [3] While attending Lakehead, Rapino promoted bands at local bars and signed his first artist, Jeff Healey. [4]

Career

While at Lakehead, Rapino landed a job as a beer rep for Labatt Breweries and started promoting bands at local bars, [5] arranging a weekly ad in The Argus called "The Blue Zone" that featured live music events happening in Thunder Bay that upcoming weekend. After graduation, he moved to Toronto and continued his career as a sales representative for Labatt. [6] He remained at the company for 10 years in different marketing and entertainment roles. [7] In the late 1990s Rapino founded Core Audience Entertainment, a concert promotion company that operated in Canada. [8] Core Audience Entertainment was acquired by SFX Entertainment in 1999, which was in turn acquired by Clear Channel Communications in 2000. [9] Rapino held several roles at Clear Channel Entertainment. [10] He was later named CEO of Live Nation when it was spun off from Clear Channel in 2005. [11]

Live Nation

As the CEO of Live Nation, Rapino initially focused on expanding the business outside of tour management, including artists’ recording and marketing. [12] Between 2007 and 2010, Rapino announced deals with artists such as Madonna, U2, and Jay-Z. [13] [14] In 2016, Rapino announced a deal between Lady Gaga and Live Nation's management division. [15]

In 2010, Live Nation merged with Ticketmaster, a live entertainment ticket seller. [16] Rapino was named CEO of the new parent company, Live Nation Entertainment. [17] Prior to the merger's approval by the U.S. Justice Department, Rapino and then-Ticketmaster CEO Irving Azoff testified in front of a Senate antitrust panel. They argued that the merger was necessary to reduce inefficiencies and help the music industry, which was struggling financially at the time. [18]

Rapino has led the company in acquiring several festivals and companies, including House of Blues Entertainment in 2006, [19] Bonnaroo Festival in 2015, [20] and Blue Note Entertainment in 2017. [21] Rapino earned $70.6 million in 2017 and was reported to have one of the highest discrepancies in salary between CEO and his employees who earned an average of $24,000. [22] Also in 2017, he extended his contract with Live Nation through 2022. [23] Rapino was appointed to the SiriusXM Radio board of directors in January 2018. [24] Also in 2018, he was listed as #1 on the Billboard Power 100 list of influential people in the music industry. [25]

Rapino, in response to complaints about ticket prices, and a call for greater regulation and control and ticket prices from The Cure frontman Robert Smith, Rapino argued that ticket prices should be like "as they're buying a Gucci bag" stating that the average consumer could afford to buy such a luxury “'This is a business where we can charge a bit more,' Rapino continued. 'I’m not saying excessively, but it’s a great two-hour performance of a lifetime, that happens once every three, four years in that market. You don’t have to underprice yourself — low to middle income [people] will make their way to that arena for that special night.'” [26]

In 2022, Rapino's total compensation from Live Nation was $139 million, making him the fifth highest paid CEO in the US that year. [27] In 2023, Rapino's total compensation was $23.4 million, or 831 times the median employee pay at Live Nation for that year. [28]

Film producer

Rapino began producing films in 2015. [29] In 2018, he was an executive producer on the HBO documentary “Believer,” [30] and “A Star is Born”. [31]

Personal life

Rapino met his wife, American model and actress Jolene Blalock, when he cast her in a commercial he was shooting. [32] Rapino and Blalock married in Negril, Jamaica, on April 22, 2003, and have three sons. [33] [32] Rapino and Blalock founded the Rapino Foundation, an organization that assists populations in the developing world. [34]

Honours

In 2015, Rapino was given an honorary doctorate of commerce from Lakehead University. [3] He also received the Clara Lionel Foundation Diamond Honors Award for his commitment to philanthropy. [34]

Related Research Articles

<span class="mw-page-title-main">Lakehead University</span> University in Thunder Bay, and Orillia, Ontario, Canada

Lakehead University is a public research university with campuses in Thunder Bay and Orillia, Ontario, Canada. Lakehead University, shortened to 'Lakehead U', is non-denominational and provincially supported. It has undergraduate programs, graduate programs, the Bora Laskin Faculty of Law, the only internationally accredited (AACSB) business school in northern Ontario, and is home to the western campus of the Northern Ontario School of Medicine.

<span class="mw-page-title-main">Jolene Blalock</span> American actress and model (born 1975)

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Ticketmaster Entertainment, LLC is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. In 2010, it merged with Live Nation under the name Live Nation Entertainment.

Tour promoters are the individuals or companies responsible for organizing a live concert tour or special event performance. The tour promoter makes an offer of engagement to a particular artist, usually through the artist's agent or music manager. The promoter and agent then negotiate the live performance contract. The majority of live performance contracts are drawn up using the American Federation of Musicians (AFM) standard contract format known as the AFM Performance Agreement.

Live Nation is an American events promoter and venue operator based in Beverly Hills, California. Founded in 1996 by Robert F. X. Sillerman as SFX Entertainment, the company's business was built around consolidating concert promoters into a national entity to counter the oversized influence of ticket behemoth Ticketmaster. In 2000, the company was sold to Clear Channel Communications for $4.4 billion and operated as Clear Channel Entertainment until 2005, when it was spun off as Live Nation. In 2010, Live Nation merged with the ticketing firm Ticketmaster to form a larger conglomerate named Live Nation Entertainment.

Jacor Communications was a media corporation, existing between 1987 and 1999, which owned many radio stations in the United States. In 1998, Jacor was purchased by Clear Channel Communications, now iHeartMedia, for $2.8 billion.

Live Nation Entertainment, Inc. is an American multinational entertainment company that was founded in 2010 following the merger of Live Nation and Ticketmaster. It promotes, operates and manages ticket sales for live entertainment internationally. It also owns and operates entertainment venues and manages the careers of music artists.

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LiveStyle, Inc. is a Los Angeles-based live events conglomerate founded by media entrepreneur Robert F. X. Sillerman. The company was formed in June 2012 as SFX Entertainment—the new incarnation of Sillerman's previous company of the same name, which was sold to Clear Channel Communications in 2000 and later spun-off as Live Nation in 2005.

<span class="mw-page-title-main">AXS (company)</span> Ticketing company

AXS is an American ticket outlet for sports and entertainment events, founded in 2011 and owned by Anschutz Entertainment Group (AEG), the world's second largest entertainment promoter behind Live Nation Entertainment. AEG operate venues globally, as well as promote events under their AEG Presents banner, meaning these venues and promoted events typically use AXS as their primary ticket outlet.

Julie Greifer Swidler is an American attorney and music industry executive.

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<span class="mw-page-title-main">Taylor Swift–Ticketmaster controversy</span> Concert tour ticket sales issues

The American ticket sales platform Ticketmaster and its parent company Live Nation Entertainment were met with widespread public criticism and political scrutiny over blunders in selling tickets to the 2023 United States leg of the Eras Tour, the sixth concert tour by the singer-songwriter Taylor Swift, in November 2022. Media outlets described the demand for the Eras Tour's tickets as "astronomical", with 3.5 million people registering for the Ticketmaster's Verified Fan pre-sale program in the U.S.

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References

  1. ↑ "Billboard Power 100's New No. 1: Live Nation Entertainment's Michael Rapino". Billboard. Retrieved 2019-05-28.
  2. ↑ "CEO Michael Rapino: I've Got a Charity; It's Called Live Nation". Samaritan. Retrieved 2023-09-10.
  3. 1 2 "Live Nation CEO among former LU graduates awarded honourary doctorates". TBNewsWatch.com. 30 May 2015. Retrieved 2019-05-28.
  4. ↑ "No. 2: Michael Rapino | Power 100". Billboard. Retrieved 2019-05-28.
  5. ↑ "How a kid from Thunder Bay became Live Nation's czar of concert tickets - and pop music's public enemy No.1". Globe and Mail. 2022-12-08. Retrieved 2023-01-24.
  6. ↑ "Michael Rapino". FYIMusicNews. 2017-04-23. Retrieved 2019-06-19.
  7. ↑ Bliss, Karen. "CEO Michael Rapino: I've Got a Charity; It's Called Live Nation". www.samaritanmag.com. Retrieved 2019-06-19.
  8. ↑ "Live Nation, Ticketmaster at a glance". San Diego Union-Tribune. 2009-02-10. Retrieved 2019-06-19.
  9. ↑ "Clear Channel buying SFX in $4.4B deal - Feb. 29, 2000". money.cnn.com. Retrieved 2019-06-19.
  10. ↑ "Clear Channel Gives Details on Spinoff Of Live Nation Unit". WSJ. Retrieved 2019-05-28.
  11. ↑ "Clear Channel Names Rapino CEO of Spinoff". Los Angeles Times. 2005-08-19. ISSN   0458-3035 . Retrieved 2019-05-28.
  12. ↑ "Freed from Clear Channel, Live Nation masters the Internet - Nov. 30, 2007". archive.fortune.com. Retrieved 2019-05-28.
  13. ↑ "Shakira Leaves Epic, Signs Massive Live Nation Deal". Rolling Stone. 2008-07-03. Retrieved 2019-05-28.
  14. ↑ "U2 Signs Deal With LiveNation". Rolling Stone. 2008-03-31. Retrieved 2019-05-28.
  15. ↑ Sisario, Ben (2014-06-11). "Lady Gaga Becomes a Live Nation Client". The New York Times. ISSN   0362-4331 . Retrieved 2019-05-28.
  16. ↑ Sisario, Ben (2010-01-25). "Justice Dept. Clears Ticketmaster-Live Nation Merger". The New York Times. ISSN   0362-4331 . Retrieved 2019-05-28.
  17. ↑ "Ticketmaster-Live Nation merger gets Justice Department's approval". Los Angeles Times. 2010-01-26. ISSN   0458-3035 . Retrieved 2019-05-28.
  18. ↑ "CEOs testify about antitrust of Ticketmaster/Live Nation - Feb. 24, 2009". money.cnn.com. Retrieved 2019-06-19.
  19. ↑ Leeds, Jeff (2006-07-06). "Big Promoter of Concerts to Acquire House of Blues". The New York Times. ISSN   0362-4331 . Retrieved 2019-06-19.
  20. ↑ Sisario, Ben (2015-04-28). "Live Nation Takes Control of Bonnaroo Festival". The New York Times. ISSN   0362-4331 . Retrieved 2019-06-19.
  21. ↑ "Michael Rapino Signs 5-Year Renewal With Live Nation". Billboard. Retrieved 2019-06-19.
  22. ↑ Dayen, David (2018-05-15). "The Ticket Monopoly Is Worse Than Ever (Thanks, Obama)". The New Republic. ISSN   0028-6583 . Retrieved 2019-06-13.
  23. ↑ "Michael Rapino Signs 5-Year Renewal With Live Nation". Billboard. Retrieved 2019-05-28.
  24. ↑ "Live Nation Chief Michael Rapino Joins SiriusXM Board". Insideradio.com. 24 January 2018. Retrieved 2019-06-19.
  25. ↑ "Billboard Power 100's New No. 1: Live Nation Entertainment's Michael Rapino". Billboard. Retrieved 2019-06-19.
  26. ↑ "Live Nation CEO discusses the Cure and rising cost of tickets". May 2023.
  27. ↑ Smith, Morgan (2023-07-05). "These are the 10 highest-paid CEOs in the U.S.—some pull in over $200 million a year". CNBC . Archived from the original on 2024-04-04. Retrieved 2024-08-31.
  28. ↑ Anderson, Sarah (2024-08-29). "Executive Excess 2024: The "Low Wage 100" corporations are enriching CEOs at the expense of workers and long-term investment" (PDF). Institute for Policy Studies . Archived (PDF) from the original on 2024-08-29. Retrieved 2024-08-31.
  29. ↑ Steele, Anne (2018-10-30). "With 'A Star Is Born,' Live Nation Gains Hollywood Clout". Wall Street Journal. ISSN   0099-9660 . Retrieved 2019-05-28.
  30. ↑ "Watch Imagine Dragons' Dan Reynolds Wrestle With Faith in 'Believer' HBO Doc: Exclusive Clip". Billboard. Retrieved 2019-05-28.
  31. ↑ McNary, Dave (2018-06-06). "Bradley Cooper Sings With Lady Gaga in 'A Star Is Born' Trailer". Variety. Retrieved 2019-05-28.
  32. 1 2 "The ticketmaster: 23,000 events, 60 million attendees, $6.5 billion". Evening Standard. 2014-03-10. Retrieved 2019-05-28.
  33. ↑ "Actress Blalock Sets Up Surprise Wedding". The Edwardsville Intelligencer. AP. 2003-05-10. Retrieved 2019-05-28.
  34. 1 2 "Rihanna's Diamond Ball will feature Lionel Richie, Kevin Hart". EW.com. Retrieved 2019-06-19.
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