Madonna & Nicki Minaj Boost Live Nation Revenue To $5.8 Billion
One’s a Pop Queen guiding the path of her genre with an ambitious hand and undying influence. The other…a sassy Rap Queen kicking dust in the face of convention with every trans-genre record she and her collection of ‘characters’ break. Together, they have aided Irving Azoff’s ‘Live Nation’ in generating a sweet $5.8 billion in the year 2012, thanks to their respective world tours and dealings with the company.
In the last year, the company’s revenue rose by 8.1% to bring its combined revenue to $5.8 billion, while its operating income jumped by 4.8% to $459 million- helped in part by Madonna’s ‘MDNA Tour’ and Minaj’s ‘Pink Friday Tour’.
Generated by a boost in concert ticket sales, sponsorship and advertising revenue, the company did so in the face of the decline of North American concerts (down 3.7%) but a rise in international concerts. A rise, to the tune of 16.8 million attendees to be precise. One of these shows, being the Nicki’s aforementioned ‘Pink’ outing, which served 41 shows across Europe, Asia, Australia and North America. A tour, that proved so successful that demand saw the Rapper launch a second world tour within the same year, billed the ‘Pink Friday: Reloaded Tour’.
Boasting three legs, the show generated a cool $1,116,140 from a single night played at London’s 02 Arena which boasts a capacity of 20,000 seats- all of which sold out within hours of the tour’s tickets becoming available for purchase.