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|Live Nation Acquires Interest in Bank Of NH Pavilion|
|Published Wednesday, December 20, 2017|
Live Nation Entertainment, a juggernaut concert and live entertainment company that posted $8.4 billion in revenue in 2016, acquired an interest in the Bank of NH Pavilion (formerly Meadowbrook) in Gilford. The summer concert venue, with a 9,000-seat amphitheater, adds to Live Nation’s extensive portfolio.
Live Nation Entertainment, a publicly traded company (NYSE: LYV), owns, operates, has exclusive booking rights for or has an equity interest in 196 venues, including House of Blues, The Fillmore in San Francisco, the Hollywood Palladium, the Ziggo Dome in Amsterdam and 3Arena in Ireland. In 2016, the company held 26,300 events, involving 3,200 artists, which drew 71 million fans.
Since opening in 1996, Bank of NH Pavilion has welcomed millions of fans, and draws nationally and internationally known acts, including, in 2017: Luke Bryan, John Mellencamp, Chris Stapleton, Bryan Adams, Third Eye Blind, and Florida Georgia Line. The executive team currently in place at the Pavilion, led by president Robert “R.J.” Harding and his wife Bridget, will continue to run day-to-day operations and will work with Ticketmaster, a subsidiary of Live Nation Entertainment, to integrate its primary ticketing services.
“We are thrilled to add the Bank of New Hampshire Pavilion to our venue portfolio, and to welcome R.J., Bridget, and their team to the Live Nation family,” says Don Law, president of Live Nation New England. “The Pavilion is a very unique and special venue, and we look forward to helping grow an already outstanding business to bring the people of New England a world class entertainment lineup for many years to come.”
Live Nation Entertainment had concerts and ticketing platforms in approximately 40 countries in 2016. As of December 31, 2016, it had approximately 8,300 full-time employees, including 5,400 in North America and 2,900 international employees. It also employed 28,600 seasonal employees last year.
Last year marked Live Nation’s 11th consecutive year of revenue growth, its highest revenue ever. Concerts, sponsorship and advertising and ticketing segments all reported revenue growth for the sixth consecutive year. Overall revenue in 2016 increased by $1.1 billion compared to 2015, a 17 percent increase.
Bank of NH Pavilion now adds to that portfolio. “Our focus over the past 22 years has been cultivating a unique concert experience here at Bank of New Hampshire Pavilion and we are extremely excited to advance that objective with a global partner like Live Nation,” says R.J. Harding.
The venue has received multiple awards and honors including Best Music Venue from the Academy of Country Music, Red Rocks Award from Pollstar, and Venue of the Year from the Country Music Association, as well as being named one of the 10 Best Concert Venues by USA Today.
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