Live Nation offered a few — emphasis on “few” — more details about previously disclosed plans for its home-grown ticketing business today. CEO Mike Rapino says he plans to sell 20 million tickets a year — that’s 20 million tickets that IAC’s Ticketmaster used to sell but won’t after 2008, when LYV’s contract runs up — and that it will be able to generate at least $17 million in operating income in 2010.
That $17 million isn’t a huge number considering that LYV booked $72 million in operating income in its last quarter alone. But the optimistic spin is that controlling its own ticketing gives Live Nation that many more opportunities to expand its basic concert promotions business — if the company is already selling you a Madonna ticket, the argument goes, think of how many other Madonna-related knick-knacks it could push at the same time.
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