Live Nation Entertainment is an
American global
entertainment company, founded in 2010, following the
merger of
Live Nation and
Ticketmaster. The company promotes, operates, and manages ticket sales for live entertainment in the United States and internationally. It also owns and operates entertainment venues, and manages the careers of music artists.
History[edit]
In 2009,
Live Nation and
Ticketmaster, a concert promotion firm and ticketing company, reached an agreement to merge. The new company received regulatory approval and was named Live Nation Entertainment.
[3][4] Michael Rapino, then-CEO of Live Nation, became the new company’s CEO, while Ticketmaster CEO
Irving Azoff was named executive chairman.
[5]
The merger was approved first in Norway and Turkey in 2009.
[6] The United Kingdom's
Competition Commission provisionally ruled against the merger,
[7] but reversed its decision on December 22, 2009.
[6]
The merger was opposed in the U.S. by some regulators, artists, fans, and competing firms, who argued it would reduce competition in the industry and increase ticket costs.
[8][9] Artist
Bruce Springsteen was one vocal opponent of the merger at the time.
[10]
On January 25, 2010, the
United States Justice Department approved the merger pending certain conditions.
[11] Ticketmaster had to sell ownership of its self-ticketing company,
Paciolan,
[11] and license its software to Anschutz Entertainment Group (AEG), which would allow it to compete "head-to-head" with Ticketmaster for business.
[12][13] AEG was given the option after five years to buy the software, replace it with something else, or partner with another ticketing company.[12] Additionally, Live Nation Entertainment was placed under a 10-year court order prohibiting it from retaliating against venues that choose to accept competing ticket contracts.[13]
Investments and growth[edit]
In 2013, the company acquired Voodoo Music & Arts Experience and announced a joint venture with
Insomniac Events, a promoter focused on
electronic dance music.
[14][15][16] The company later acquired
C3 Presents (2014),
[17] Bonnaroo Music and Arts Festival (2015),
[18] and Founders Entertainment (2016), the parent company of Governors Ball Music Festival.
[19] In October 2016, Live Nation Entertainment bought AC Entertainment, a Knoxville Tennessee music company,
[20] as well as several international companies.
[21] The company continued to invest in music festivals and promoters in 2017, purchasing a controlling interest in
BottleRock Napa Valley Music Festival,
[22] Salt Lake City-based concert promoter United Concerts,
[23] and CT Touring.
[24] In 2017, Live Nation Entertainment reported revenue of $10.3 billion.
[25][26] In 2018, the company expanded its concert promotion segment by acquiring a majority stake in a number of companies including Frank Productions,
[27] Emporium Presents,
[28] and Red Mountain Entertainment.
[29]
Also in 2018, the
United States Department of Justice launched an investigation following complaints by AEG that Live Nation pressured them into using
Ticketmaster and intentionally avoided booking acts for AEG venues.
[30] Live Nation stated that decisions in selecting venues were not punitive, and were instead based on size and management.
[30]
Operating divisions[edit]
Live Nation Entertainment’s business segments are concerts, ticketing, and sponsorship and advertising.
[25] The company promotes and operates live music events and manages artists under its concerts division
Live Nation Concerts.
[25] Live Nation Entertainment’s artist management arm, called Artist Nation, is included within its concerts division
[31][25] and also includes Front Line Management and
Roc Nation.
[32] Live Nation Entertainment owns and operates venues, including the
House of Blues.
[33] The company sells tickets to live events through
Ticketmaster.
[25]
International[edit]
In 2012, the company announced a partnership with Creativeman Productions, based in Tokyo, Japan.
[34]
In August 2015, Live Nation announced it would form Live Nation Germany, to be created in partnership with German promoter Marek Lieberberg. Live Nation Germany would also have oversight over Live Nation events in Austria and Switzerland.
[38]
In March 2016, Live Nation acquired Big Concerts International, South Africa's leading concert promoter.
[39] The following year, the company acquired majority interests in Israeli promoter Blue Stone Entertainment and the UK’s Cuffe & Taylor.
[21]
In May 2018, Live Nation Entertainment acquired a majority stake in Brazil's
Rock in Rio festival (including from previous stakeholder
SFX Entertainment), with its founder Roberto Medina continuing to manage the festival's operations, and providing consulting to Live Nation.
[40][40][41]
