Named chairman of AEG Live as the global promoter posts its first billion-dollar year
Jay Marciano, who was named chairman of AEG Live in the wake of the departure of president/CEO Randy Phillips in November, is a veteran of the concert promotion wars.
But 2013 was a wild ride, even for him. He had only been COO of AEG seven months following the exit of AEG founding CEO Tim Leiweke. Marciano had been CEO of AEG’s European operation, a position he took in 2011 after a six-year run as president of Madison Square Garden Entertainment.
The AEG model melds real estate in the form of theaters, arenas and stadiums with revenue-producing content in sports teams and live events, with added fringe businesses like ticketing, media deals, merchandising and sponsorships. The entire venue portfolio of arenas, theaters, stadiums and clubs on five continents exceeds 100 buildings, with more than 40 million fans visiting annually, according to AEG. In Marciano’s view, great venues build and sustain artists’ careers.
Joining a team that just posted its best numbers ever, driven by tours including Bon Jovi, Justin Bieber, Taylor Swift, Kenny Chesney, George Strait and a burgeoning one-off business, is a double-edged sword, and Marciano is looking forward with good reason.
“What intrigues me today is what marketing people refer to as the ‘customer journey,’” he says of AEG’s ticketing business, axs. “If we can deliver to the fan and also convince the artists that we’re in contact with their fans, that’s going to grow the pie, as opposed to taking a bigger slice of an existing pie. What we have to do is get people to go out more often, and delivering a better experience is what is going to do that.”