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Live Nation's Plan For Resuming Live Events: What Investors Should Know

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Live Nation's Plan For Resuming Live Events: What Investors Should Know

Live Nation Entertainment Inc (NYSE: LYV), the world’s leading live entertainment company, is one of several companies that saw a huge gain Monday thanks to the positive COVID-19 vaccine news from Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX).

What Happened: A report from Billboard said Live Nation's Ticketmaster is planning ahead with new technology for digital ticketing. 
Ticketmaster will partner with health information companies to see whether event goers have been cleared for attending, the report said. 

The Billboard article mentions Clear Health Pass and IBM’s Digital Health Pass as providers of the health information and Labcorp and CVS Minute Clinic for vaccine distribution.

Related Link: Irrational Exuberance? Stocks Surging, Markets At All-Time Highs On Pfizer’s Covid-19 Vaccine News

Why It’s Important: Clear, a private company, makes the majority of its money from TSA checkpoint clearance. The company provides biometric information for the airline industry, with 5 million customers.

Clear has received $387 million in funding from companies like United Airlines (NASDAQ: UAL), Revolution Growth, T. Rowe Price Group (NASDAQ: TROW) and Delta Air Lines (NYSE: DAL) according to Crunchbase.

The biometrics market could be a multibillion-dollar industry, which could lead to Clear being a prime candidate for a buyout or an IPO.

International Business Machines Corporation (NYSE: IBM), Laboratory Corporation of America Holdings (NYSE: LH) and CVS Health Corporation (NYSE: CVS) are companies that could benefit by providing the technology behind Live Nation’s plan.

Live Nation covers sports leagues and live venues with its ticketing segment and also owns many properties under its Live Nation segment.

The company is aggressively working on a plan to get back to live events safely and could be ahead of the game and competitors.

Live Nation announced in its third-quarter report that 83% of fans have opted to keep their tickets for rescheduled events.

The company also said a survey with fans showed 95% planned to return to live music shows when restrictions are lifted.

LYV Price Action: Live Nation shares were down 2.47% at $63.69 at the close Wednesday. 

 

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