Bottom line still not exceeded.
Clear Channel Entertainment chairman/CEO Brian Becker noted at today's Billboard Backstage Event Conference today (Nov. 8) in New York that his company has been experiencing an increase in revenues due to high ticket prices this year.
Despite this, CCE "did not exceed bottom line projections," Becker told Billboard senior writer Ray Waddell. "We won't see a bounce back next year."
Becker said that the decision to refer to its local music promotion divisions by their original names is a way to identify with consumers.
"When we came out, we had one name for Wall Street," he said. "It did not communicate to consumers and we decided to go back to the names of the past."
Becker also noted that discounting ticket prices should not be the norm. "We should set prices correctly the first time," he said.
Additionally, Becker said that CCE plans on significant investments to identify and nurture new artists.