Clear Channel having troubles! I wonder why?

[Atman]

This article offers lots of bullshit maybes, but I don't see any mention of the terrible ill will Clear Channel created with its flag waving and proslytizing for the Bush regime. The article doesn't mention that the reason it's concert venues started having to change their names, often back to the original names before Clear Channel acquired them, was because of the political vitriol which had become associated with the mere mention of its name. The article doesn't point out the coincidence in the fact that the period discussed happens to coincide with the five-year love-fest Clear Channel has enjoyed with the Bush administration. The article mainly says that Clear Channel is sucking wind, and despite the lame denials, we know the real reasons! Go DU!

--

Concert Company's Stock May Not Play Well

December 21, 2005
By ETHAN SMITH, Wall Street Journal

<snip>

Live Nation is the dominant player in the glamorous, but struggling world of live concerts. As the world's largest live-entertainment promoter, the Clear Channel unit last year staged more than 10,000 concerts, 12,000 theatrical performances and 600 motor-sports events for more than 61 million people.

It owns or operates in 141 venues in the United States and Europe.

But Live Nation's value has also fallen by as much as 81 percent in the five years since Clear Channel Communications acquired its corporate predecessor, SFX Entertainment Inc., for nearly $3 billion.

The media giant, based in San Antonio, was not able to execute its vision of creating a pop-culture juggernaut by using its thousands of billboards and radio stations to cross-promote concerts.

And the concert business in recent years has been staggered by over-aggressive pricing and sky-high fees paid to artists.

<snip>

http://www.courant.com/business/hc-wsjconcert1221.artdec21,0,2310032.story?coll=hc-headlines-business

[tularetom]

1. Guess all them Dixie Chick music burning parties

didn't really work out so good for them, huh.

[reality based]

2. Sounds like a good time for a boycott

[Atman]

3. The final death squeeze on 'em?

I like it!

[Warpy]

4. Never mind that they play bland CRAP

and censor most of the interesting music out there because they don't like the politics in the songs or of the artists.

People are sick of McRadio, and the people who enjoy that sort of thing are now tuning into satellite services that are commercial free, at least for the time being (that's gonna change, though, so beware of good deals that lock you into long term contracts). They're largely sick of a lack of local flavor on "local" stations, too. There's no way an announcer in Florida is going to relate to the Hispano crowd in NM, and it shows.

There's just so long that people will tolerate the kind of bland earfeel they used to play in mental hospitals to keep the patients quiet. Eventually they'll tune out.

The ill will they've generated by their rah-rah support for the Texas crime gang in Washington plus their public censorship of popular artists and material are big factors, too.

I can't say I'm going to cry into my pillow over this one.

[orwell]

5. Ah...Creative Destruction

...the free market at work. I guess Schumpeter is right again.