That time of year again- what do concert industry controllers really make?
MONEY, not music. A reality check of where our slave wages end up...
A couple of music companies reported Wednesday the compensation awarded to their top executives. Here are stats for our beloved (cough, cough, gag) Live Nation…
Live Nation CEO Michael Rapino earned $11.9 million in 2011, down from $15.9 million in 2010, according to an SEC filing. Rapino's compensation fell primarily because he received fewer stock awards in 2011 than he did the year before.
Live Nation did not turn a profit during their full fiscal year, but did generate revenue: $5.4 billion [for themselves]
Live Nation did not do much for shareholders, with LN stock sinking 27 percent in 2011.
Some of the biggest money in music, goes to LN executive chairman
Irving Azoff, who saw his compensation shoot up to $34.6 million from $22.8 million the previous year.
A vast portion of Azoff's compensation -- $25.3 million -- came by way of "all other compensation," which, according to the SEC filing, relates to his ownership interest in Front Line, a company he founded, then sold to Live Nation.
Nathan Hubbard, CEO of Live Nation's Ticketmaster subsidiary, earned $4.1 million in 2011, down from $5.7 million.
Alan Ridgeway, president of international and emerging markets at Live Nation, earned $2.2 million, down from $4 million.
Michael Rowles, general counsel, earned $1.5 million, down from $6 million in 2010 when his stock awards amounted to $3.8 million.
CFO Kathy Willard earned $2 million, down from $6.6 million when she also received stock awards amounting to $3.8 million.
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