Live Nation
Encyclopedia
Live Nation is a live-events company based in Beverly Hills, California
, focused on concert promotions. Live Nation formed in 2005 as a spin-off from Clear Channel Communications
, which then merged with Ticketmaster
in 2010 to become Live Nation Entertainment
.
Live Nation "signs" artists as a "record label", but predominantly takes the role of a promoter, rather than "owner of music". The deal with U2
and Madonna
for example does not include copyright
of the artists' future recordings. The 2007 deal signed with Jay-Z
does include the rapper's future recordings. Live Nation signed Colombian singer Shakira
, Canadian band Nickelback
and Mexican singer Luis Miguel
.
or produces
over 22,000 events, including music concerts, with total attendance exceeding 50 million—more than the NBA, NFL, and NHL combined. As of September 30, 2005, Live Nation owned or operated 117 venues, consisting of 75 US and 42 international venues. These venues include 39 amphitheatres, 58 theatres, 14 clubs, 4 arenas and 2 festival sites. In addition, through equity, booking or similar arrangements Live Nation has the right to book events at 33 additional venues.
throughout the next decade after her leaving Warner Music and Warner Bros
. She will be the founding recording artist for the new music division Live Nation Artists, formerly Artist Nation. In July 2008, Shakira
signed an estimated $70-100 million contract with Live Nation.
In January, 2008, Live Nation sold its North American theatrical business (including the Broadway Across America business) to Key Brand Entertainment
for $90.4 million. Key Brand Entertainment is a private investment company owned by British theater producer John Gore
and led by senior entertainment industry executive Tom McGrath.
In April 2008, a deal between Jay-Z
and Live Nation for $152 million was confirmed. The deal covers financing of Jay-Z
's own entertainment venture, live shows, tours and future recordings for the next 10 years. Blueprint 3 was distributed by Atlantic Records
, while his label, Roc Nation
, is being distributed by Sony Music Entertainment
.
. Current locations of the House of Blues include:
(in state order alphabetically)
of Live Nation are: Ari Emanuel
, Jeffrey T. Hinson, L. Lowry Mays, Randall T. Mays, Connie McCombs McNab, James S. Kahan, Ted Enloe, Mark Shapiro, and Michael Rapino.
, Sony Music
, Universal Music Group
and Warner Music Group
with artists such as Madonna
, U2
, Jay-Z
, Shakira
and Nickelback
.
As of July 30, 2008, CEO Michael Rapino is considering doing licensing deals on an artist-by-artist basis, a source inside Live Nation said. Under that scenario, Warner Music Group
could end up handling the marketing, promotion and distribution of albums by the very acts that defected from it to join Live Nation: Nickelback and Madonna. "Rapino wants to outsource everything," said a second source close to the situation. "He doesn't want to build an infrastructure or carry any overhead." The move is mirrored after the "rent-a-system" model used in Hollywood, whereby one studio produces a movie but licenses all the other functions to another studio that already has a distribution and marketing infrastructure.
Live Nation's talks represented the latest retrenchment from the strategy of former chairman Michael Cohl
, who sought to transform the touring giant into a multi-faceted powerhouse, including a record company. News of the potential outsourcing move followed the dismissal of industry veterans Bob Ezrin, Bob Cahill and Bill Hein, all of whom were Artist Nation employees hired by Cohl to create a label infrastructure for Live Nation's newly signed acts. Instead of banking all the upside on album sales, as was once envisioned with these so-called "360 deals," Live Nation would likely collect a less lucrative outsourcing royalty of between 25 percent and 35 percent, based on other industry licensing deals.
It would then be responsible for using that money to pay the artist's royalty - a fee that, at the superstar level, can come close to equaling the licensing royalty the company is apt to get from a label.
On 31 March 2008, it was confirmed that Live Nation signed a 12 year deal with U2 worth an estimated $100 million (£70 million). The deal includes Live Nation controlling the band's merchandise, sponsoring and their official website. In a contractual agreement with Live Nation signed in March 2008, the parties agreed that the band would receive $25 million for 1.6 million shares of the company; as of 17 December 2008, those shares were worth only just over $6 million. It was reported on 18 December 2008 that Live Nation, honoring their financial commitment, bought back the shares at a loss of $19 million. The company had intended to recoup the cost of signing U2 with their most recent album, No Line on the Horizon. No Line on the Horizon achieved multi platinum status in the international market and has sold over 5 million albums to date.
Source:
announced that they have entered into a definitive merger agreement to create a combined entity, to be called Live Nation Entertainment
. Ticketmaster's press release said Live Nation produces live concerts in 57 countries.
The proposal has received regulatory approval in Norway and Turkey.
In October 2009, the United Kingdom's Competition Commission
provisionally ruled against the merger with Ticketmaster.. On December 22, 2009, the Competition Commission decided to clear the proposed merger.
Separate regulatory reviews of the proposal continued in the United States and Canada. The United States Department of Justice
approved the merger in 2010 subject to review by a federal judge after a 60-day comment period. A conditions of the approval, Ticketmaster agreed to license its software to rival Anschutz Entertainment Group
, and to sell its subsidiary Paciolan to Comcast Spectacor, Comcast's sporting events subsidiary. The company also agreed not to interfere with competition for the ten year life of the agreement.
said "...the one thing that would make the current ticket situation even worse for the fan than it is now would be Ticketmaster and Live Nation coming up with a single system, thereby returning us to a near monopoly situation in music ticketing".
In a January 25, 2010 press release, the TicketDisaster.org group—a coalition of consumer rights and anti-trust groups—also issued the following statement about the proposed Live Nation-TicketMaster merger:
Beverly Hills, California
Beverly Hills is an affluent city located in Los Angeles County, California, United States. With a population of 34,109 at the 2010 census, up from 33,784 as of the 2000 census, it is home to numerous Hollywood celebrities. Beverly Hills and the neighboring city of West Hollywood are together...
, focused on concert promotions. Live Nation formed in 2005 as a spin-off from Clear Channel Communications
Clear Channel Communications
Clear Channel Communications, Inc. is an American media conglomerate company headquartered in San Antonio, Texas. It was founded in 1972 by Lowry Mays and Red McCombs, and was taken private by Bain Capital LLC and Thomas H. Lee Partners LP in a leveraged buyout in 2008...
, which then merged with Ticketmaster
Ticketmaster
Ticketmaster Entertainment, Inc. is an independent American ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. In 2010 it merged with Live Nation to become Live Nation Entertainment...
in 2010 to become Live Nation Entertainment
Live Nation Entertainment
Live Nation Entertainment is the new corporate name and owner of Live Nation and Ticketmaster, who have merged. The leadership consists of John C. Malone Chairman of Liberty Media as Chairman and Michael Rapino, as President and CEO of the new company...
.
Live Nation "signs" artists as a "record label", but predominantly takes the role of a promoter, rather than "owner of music". The deal with U2
U2
U2 are an Irish rock band from Dublin. Formed in 1976, the group consists of Bono , The Edge , Adam Clayton , and Larry Mullen, Jr. . U2's early sound was rooted in post-punk but eventually grew to incorporate influences from many genres of popular music...
and Madonna
Madonna (entertainer)
Madonna is an American singer-songwriter, actress and entrepreneur. Born in Bay City, Michigan, she moved to New York City in 1977 to pursue a career in modern dance. After performing in the music groups Breakfast Club and Emmy, she released her debut album in 1983...
for example does not include copyright
Copyright
Copyright is a legal concept, enacted by most governments, giving the creator of an original work exclusive rights to it, usually for a limited time...
of the artists' future recordings. The 2007 deal signed with Jay-Z
Jay-Z
Shawn Corey Carter , better known by his stage name Jay-Z, is an American rapper, record producer, entrepreneur, and occasional actor. He is one of the most financially successful hip hop artists and entrepreneurs in America, having a net worth of over $450 million as of 2010...
does include the rapper's future recordings. Live Nation signed Colombian singer Shakira
Shakira
Shakira Isabel Mebarak Ripoll , known professionally as Shakira , is a Colombian singer who emerged in the music scene of Colombia and Latin America in the early 1990s...
, Canadian band Nickelback
Nickelback
Nickelback is a Canadian rock band from Hanna, Alberta. Since 1995 the band has included guitarist and lead vocalist Chad Kroeger, guitarist and back-up vocalist Ryan Peake and bassist Mike Kroeger.. The band's current drummer and percussionist is Daniel Adair who has been with the band since 2005....
and Mexican singer Luis Miguel
Luis Miguel
Luis Miguel Gallego Basteri is a Mexican singer. He is widely known only by the name Luis Miguel and is often referred to as "El Sol de México"...
.
Business
Annually, Live Nation promotesPromoter (entertainment)
An entertainment promoter i.e. music, wrestling, boxing etc is a person or company in the business of marketing and promoting live events such as concerts/gigs, boxing matches, sports entertainment , festivals, raves, and nightclubs.- Business model :Promoters are typically hired as independent...
or produces
Concert production
Concert production is the act of putting on a concert or a live music performance. As an individual's role, this refers to the person coordinating all the staff and equipment necessary to make a concert happen; they monitor the schedule, pay the staff, act as a hub for communication between team...
over 22,000 events, including music concerts, with total attendance exceeding 50 million—more than the NBA, NFL, and NHL combined. As of September 30, 2005, Live Nation owned or operated 117 venues, consisting of 75 US and 42 international venues. These venues include 39 amphitheatres, 58 theatres, 14 clubs, 4 arenas and 2 festival sites. In addition, through equity, booking or similar arrangements Live Nation has the right to book events at 33 additional venues.
Deals
In October 2007, Live Nation announced a new contract with pop singer MadonnaMadonna (entertainer)
Madonna is an American singer-songwriter, actress and entrepreneur. Born in Bay City, Michigan, she moved to New York City in 1977 to pursue a career in modern dance. After performing in the music groups Breakfast Club and Emmy, she released her debut album in 1983...
throughout the next decade after her leaving Warner Music and Warner Bros
Warner Bros. Records
Warner Bros. Records Inc. is an American record label. It was the foundation label of the present-day Warner Music Group, and now operates as a wholly owned subsidiary of that corporation. It maintains a close relationship with its former parent, Warner Bros. Pictures, although the two companies...
. She will be the founding recording artist for the new music division Live Nation Artists, formerly Artist Nation. In July 2008, Shakira
Shakira
Shakira Isabel Mebarak Ripoll , known professionally as Shakira , is a Colombian singer who emerged in the music scene of Colombia and Latin America in the early 1990s...
signed an estimated $70-100 million contract with Live Nation.
In January, 2008, Live Nation sold its North American theatrical business (including the Broadway Across America business) to Key Brand Entertainment
Key Brand Entertainment
Key Brand Entertainment, Inc. is a producer and distributor of live theater in North America, as well as an e-commerce company focused on theater. KBE was founded in the UK in 2004 by John Gore who is the company's CEO and Co-Owner. Thomas B. McGrath joined KBE as its Chairman in 2008 and is a...
for $90.4 million. Key Brand Entertainment is a private investment company owned by British theater producer John Gore
John Gore (theater producer)
John Gore is the co-owner and Chief Executive Officer of Key Brand Entertainment, Inc. , a leading developer, producer, and distributor of live theatre in North America. Gore founded KBE in 2004 to develop theatrical properties in the US...
and led by senior entertainment industry executive Tom McGrath.
In April 2008, a deal between Jay-Z
Jay-Z
Shawn Corey Carter , better known by his stage name Jay-Z, is an American rapper, record producer, entrepreneur, and occasional actor. He is one of the most financially successful hip hop artists and entrepreneurs in America, having a net worth of over $450 million as of 2010...
and Live Nation for $152 million was confirmed. The deal covers financing of Jay-Z
Jay-Z
Shawn Corey Carter , better known by his stage name Jay-Z, is an American rapper, record producer, entrepreneur, and occasional actor. He is one of the most financially successful hip hop artists and entrepreneurs in America, having a net worth of over $450 million as of 2010...
's own entertainment venture, live shows, tours and future recordings for the next 10 years. Blueprint 3 was distributed by Atlantic Records
Atlantic Records
Atlantic Records is an American record label best known for its many recordings of rhythm and blues, rock and roll, and jazz...
, while his label, Roc Nation
Roc Nation
Roc Nation is an American management, music publishing and entertainment company founded by Shawn "Jay-Z" Carter.-History:In April 2008, Live Nation partnered with Jay-Z to create Roc Nation...
, is being distributed by Sony Music Entertainment
Sony Music Entertainment
Sony Music Entertainment ' is the second-largest global recorded music company of the "big four" record companies and is controlled by Sony Corporation of America, the United States subsidiary of Japan's Sony Corporation....
.
House of Blues
In 2006 Live Nation acquired House of BluesHouse of Blues
House of Blues is a chain of 13 live music concert halls and restaurants in major markets throughout the United States. House of Blues first location was in Cambridge's Harvard Square. It was opened in 1992 by Isaac Tigrett, co-founder of Hard Rock Cafe, and Dan Aykroyd, star of The Blues Brothers...
. Current locations of the House of Blues include:
(in state order alphabetically)
- AnaheimAnaheim, CaliforniaAnaheim is a city in Orange County, California. As of the 2010 United States Census, the city population was about 365,463, making it the most populated city in Orange County, the 10th most-populated city in California, and ranked 54th in the United States...
, CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
(at Downtown DisneyDowntown Disney (California)Downtown Disney is an outdoor shopping, dining, and entertainment area, also known as a "shoppertainment center", located at the Disneyland Resort in Anaheim, California, United States...
at Disneyland ResortDisneyland ResortThe Disneyland Resort is a recreational resort in Anaheim, California. The resort is owned and operated by The Walt Disney Company through its Parks and Resorts division and is home to two theme parks, three hotels and a shopping, dining, and entertainment area known as Downtown Disney.The area now...
) - San Diego, California
- West HollywoodWest Hollywood, CaliforniaWest Hollywood, a city of Los Angeles County, California, was incorporated on November 29, 1984, with a population of 34,399 at the 2010 census. 41% of the city's population is made up of gay men according to a 2002 demographic analysis by Sara Kocher Consulting for the City of West Hollywood...
, California - Lake Buena VistaLake Buena Vista, FloridaLake Buena Vista is a city in Orange County, Florida, United States. It is mostly known for being home to the Walt Disney World Resort. It is one of two Florida municipalities controlled by The Walt Disney Company, the other being Bay Lake....
, FloridaFloridaFlorida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
(at Downtown DisneyDowntown Disney (Florida)Downtown Disney is an outdoor shopping, dining, and entertainment complex located at the Walt Disney World Resort in Lake Buena Vista, Florida. Downtown Disney is open to the public, requires no admission fee, and offers complimentary parking and transportation to all Disney-operated Walt Disney...
at Walt Disney World) - ChicagoChicagoChicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, IllinoisIllinoisIllinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
(where it is also a hotel) - New Orleans, LouisianaLouisianaLouisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
- BostonBostonBoston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
, MassachusettsMassachusettsThe Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
(opened February 2009)
- Las VegasLas Vegas, NevadaLas Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
, NevadaNevadaNevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
(at Mandalay Bay Resort and CasinoMandalay Bay Resort and CasinoMandalay Bay Resort and Casino is a 44-story luxury hotel casino on the Las Vegas Strip in Paradise, Nevada. It is owned by MGM Resorts International. Five floors of the main hotel building are occupied by the five-star and AAA Five-Diamond Four Seasons Hotel Las Vegas...
) - ClevelandCleveland, OhioCleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
, OhioOhioOhio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus... - Atlantic CityAtlantic City, New JerseyAtlantic City is a city in Atlantic County, New Jersey, United States, and a nationally renowned resort city for gambling, shopping and fine dining. The city also served as the inspiration for the American version of the board game Monopoly. Atlantic City is located on Absecon Island on the coast...
, New JerseyNew JerseyNew Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
(at Showboat Atlantic CityShowboat Atlantic CityShowboat Atlantic City is a Mardi Gras themed casino located in Atlantic City, New Jersey. In 1998, the property was purchased by Harrah's Entertainment, now Caesars Entertainment, which has since sold off similar Showboat themed properties in other cities. The Showboat is currently the...
) - Myrtle BeachMyrtle Beach, South CarolinaMyrtle Beach is a coastal city on the east coast of the United States in Horry County, South Carolina. It is situated on the center of a large and continuous stretch of beach known as the Grand Strand in northeastern South Carolina. It is considered to be a major tourist destination in the...
, South CarolinaSouth CarolinaSouth Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence... - Dallas, TexasTexasTexas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
- Houston, TexasTexasTexas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
(in the Houston PavilionsHouston PavilionsHouston Pavilions is a commercial development in Downtown Houston, Texas, United States.Construction was scheduled to begin in Spring 2006 , with the first developments opening in the fourth quarter of 2007...
) (opened October 2008)
Corporate governance
Current members of the board of directorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Live Nation are: Ari Emanuel
Ari Emanuel
Ariel "Ari" Zev Emanuel is an American talent agent, founder of the Endeavor Talent Agency in Beverly Hills, California, and now co-CEO of William Morris Endeavor Entertainment, Endeavor's successor by merger...
, Jeffrey T. Hinson, L. Lowry Mays, Randall T. Mays, Connie McCombs McNab, James S. Kahan, Ted Enloe, Mark Shapiro, and Michael Rapino.
Live Nation International Music and Live Nation Artists
Live Nation is currently constructing a physical recording label, Live Nation Artists, which will be a division of Live Nation International Music. The company is expected to become a major rival against EMIEMI
The EMI Group, also known as EMI Music or simply EMI, is a multinational music company headquartered in London, United Kingdom. It is the fourth-largest business group and family of record labels in the recording industry and one of the "big four" record companies. EMI Group also has a major...
, Sony Music
Sony Music Entertainment
Sony Music Entertainment ' is the second-largest global recorded music company of the "big four" record companies and is controlled by Sony Corporation of America, the United States subsidiary of Japan's Sony Corporation....
, Universal Music Group
Universal Music Group
Universal Music Group is an American music group, the largest of the "big four" record companies by its commanding market share and its multitude of global operations...
and Warner Music Group
Warner Music Group
Warner Music Group is the third largest business group and family of record labels in the recording industry, making it one of the big four record companies...
with artists such as Madonna
Madonna (entertainer)
Madonna is an American singer-songwriter, actress and entrepreneur. Born in Bay City, Michigan, she moved to New York City in 1977 to pursue a career in modern dance. After performing in the music groups Breakfast Club and Emmy, she released her debut album in 1983...
, U2
U2
U2 are an Irish rock band from Dublin. Formed in 1976, the group consists of Bono , The Edge , Adam Clayton , and Larry Mullen, Jr. . U2's early sound was rooted in post-punk but eventually grew to incorporate influences from many genres of popular music...
, Jay-Z
Jay-Z
Shawn Corey Carter , better known by his stage name Jay-Z, is an American rapper, record producer, entrepreneur, and occasional actor. He is one of the most financially successful hip hop artists and entrepreneurs in America, having a net worth of over $450 million as of 2010...
, Shakira
Shakira
Shakira Isabel Mebarak Ripoll , known professionally as Shakira , is a Colombian singer who emerged in the music scene of Colombia and Latin America in the early 1990s...
and Nickelback
Nickelback
Nickelback is a Canadian rock band from Hanna, Alberta. Since 1995 the band has included guitarist and lead vocalist Chad Kroeger, guitarist and back-up vocalist Ryan Peake and bassist Mike Kroeger.. The band's current drummer and percussionist is Daniel Adair who has been with the band since 2005....
.
As of July 30, 2008, CEO Michael Rapino is considering doing licensing deals on an artist-by-artist basis, a source inside Live Nation said. Under that scenario, Warner Music Group
Warner Music Group
Warner Music Group is the third largest business group and family of record labels in the recording industry, making it one of the big four record companies...
could end up handling the marketing, promotion and distribution of albums by the very acts that defected from it to join Live Nation: Nickelback and Madonna. "Rapino wants to outsource everything," said a second source close to the situation. "He doesn't want to build an infrastructure or carry any overhead." The move is mirrored after the "rent-a-system" model used in Hollywood, whereby one studio produces a movie but licenses all the other functions to another studio that already has a distribution and marketing infrastructure.
Live Nation's talks represented the latest retrenchment from the strategy of former chairman Michael Cohl
Michael Cohl
Michael Cohl is a Canadian concert promoter, theatrical producer and touring impresario. He is the former Chairman of Live Nation, the largest live entertainment company in the world. Cohl now runs S2BN Entertainment, with offices in Miami and Toronto...
, who sought to transform the touring giant into a multi-faceted powerhouse, including a record company. News of the potential outsourcing move followed the dismissal of industry veterans Bob Ezrin, Bob Cahill and Bill Hein, all of whom were Artist Nation employees hired by Cohl to create a label infrastructure for Live Nation's newly signed acts. Instead of banking all the upside on album sales, as was once envisioned with these so-called "360 deals," Live Nation would likely collect a less lucrative outsourcing royalty of between 25 percent and 35 percent, based on other industry licensing deals.
It would then be responsible for using that money to pay the artist's royalty - a fee that, at the superstar level, can come close to equaling the licensing royalty the company is apt to get from a label.
On 31 March 2008, it was confirmed that Live Nation signed a 12 year deal with U2 worth an estimated $100 million (£70 million). The deal includes Live Nation controlling the band's merchandise, sponsoring and their official website. In a contractual agreement with Live Nation signed in March 2008, the parties agreed that the band would receive $25 million for 1.6 million shares of the company; as of 17 December 2008, those shares were worth only just over $6 million. It was reported on 18 December 2008 that Live Nation, honoring their financial commitment, bought back the shares at a loss of $19 million. The company had intended to recoup the cost of signing U2 with their most recent album, No Line on the Horizon. No Line on the Horizon achieved multi platinum status in the international market and has sold over 5 million albums to date.
Top executives
- Michael Rapino - Chief Executive Officer
- Ben Weeden - Chief Operating Officer, North American Music
- Kathy Willard - Chief Financial Officer and Executive Vice President
- Paul Latham - Chief Operating Officer, Live Nation International Music
Source:
United States
- Live Nation owns SFX Entertainment, providing venue and artist management. It owns, operates and/or exclusively books 135 live entertainment venues, including 43 in Europe, along with producing high profile events such as Super BowlSuper BowlThe Super Bowl is the championship game of the National Football League , the highest level of professional American football in the United States, culminating a season that begins in the late summer of the previous calendar year. The Super Bowl uses Roman numerals to identify each game, rather...
halftime shows. It also represents major music artists. - Owned Monster JamMonster JamMonster Jam is a live motorsport event tour and television show operated by Feld Entertainment. The series is sanctioned under the umbrella of the United States Hot Rod Association and takes place primarily in the United States and around the world...
, a promoter of monster truckMonster truckA monster truck is a pickup truck, typically styled after pickup trucks' bodies, modified or purposely built with extremely large wheels and suspension...
races and other indoor motorsports. Live Nation also owned several trucks and the rights to several trucks running at these events, including Grave DiggerGrave Digger (truck)Grave Digger is the name of a team of monster trucks currently racing in the USHRA Monster Jam series. There are several Grave Diggers being driven by different drivers to allow them to make appearances at more events, but their flagship driver is creator Dennis Anderson...
, Superman and Maximum DestructionMaximum Destruction (truck)Maximum Destruction is a monster truck currently racing in the USHRA Monster Jam series. It is currently driven by Tom Meents. Tom Meents has won nine world championships which is the most anyone has won at the Monster Jam World Finals. As one of the most successful of the trucks it currently...
. Now owned by Feld Entertainment, divested in September 2008. - Produces sporting events: 84 Lumber Classic of Pennsylvania; Legg Mason Tennis ClassicLegg Mason Tennis ClassicThe Legg Mason Tennis Classic is an annual late-summer men's tennis tournament played in Washington, D.C. as part of the ATP Tour. It was first held in 1969. It was later known as the Sovran Bank Classic. . Originally an event of the Grand Prix Tennis Tour and part of the Grand Prix Championship...
; ADT Skills ChallengeADT Skills ChallengeThe ADT Skills Challenge was an offseason event in golf which tests golfers' abilities in putting, driving distance, and the short game . Baseball superstar Mark McGwire beat out a field of professionals to win in 2003....
; American Century Golf Championship; THQTHQTHQ Inc. is an American developer and publisher of video games. Founded in 1989 in the United States, the company develops products for video game consoles, handheld game systems, as well as for personal computers and wireless devices...
World SupercrossSupercrossSupercross is a motorcycle racing sport involving off-road motorcycles on an artificially-made dirt tracks consisting of steep jumps and obstacles. Professional supercross contest races are held almost exclusively within professional baseball and football stadiums.-History:Supercross was derived...
GP; National Arenacross Series; IFMA Freestyle MotocrossMotocrossMotocross is a form of motorcycle sport or all-terrain vehicle racing held on enclosed off road circuits. It evolved from trials, and was called scrambles, and later motocross, combining the French moto with cross-country...
; and IHRAInternational Hot Rod AssociationThe International Hot Rod Association, also known as IHRA, is the 2nd largest drag racing sanctioning body after the NHRA.-The Carrier Era:The IHRA was formed in November 1970 by businessman Larry Carrier. Throughout this period the organization was operated primarily in the south-eastern United...
Drag RacingDrag racingDrag racing is a competition in which specially prepared automobiles or motorcycles compete two at a time to be the first to cross a set finish line, from a standing start, in a straight line, over a measured distance, most commonly a ¼-mile straight track.... - Produces concerts and festivalsMusic festivalA music festival is a festival oriented towards music that is sometimes presented with a theme such as musical genre, nationality or locality of musicians, or holiday. They are commonly held outdoors, and are often inclusive of other attractions such as food and merchandise vending machines,...
: Great New York State FairGreat New York State FairThe Great New York State Fair is an annual farmers' exposition and a 12-day showcase of entertainment, education, industry, technology, and more, sponsored by the State of New York. Additionally there are midway rides, , and concerts. The first fair took place in Syracuse in 1841...
, OzzfestOzzfestOzzfest is an annual festival tour of the United States featuring performances by many heavy metal and hard rock musical groups. It was founded by Ozzy Osbourne and his wife Sharon Osbourne, both of whom also organize each yearly tour with their son Jack Osbourne...
, Jägermeister Music TourJägermeister Music TourThe Jägermeister Music Tour is a hard rock, hardcore punk, and heavy metal music tour that has been held twice a year in the United States since 2002. It is owned by the American importer of Jägermeister, Sidney Frank Importing.-History:...
, and Music MidtownMusic MidtownMusic Midtown was a large music festival held in Atlanta, Georgia from 1994 to 2005. It is once again resurrected for 2011.The festival ran on one weekend each year from 1994 to 2005. The event drew in excess of 300,000 attendees per year during its peak years. Music Midtown started as a two-day...
(AtlantaAtlanta, GeorgiaAtlanta is the capital and most populous city in the U.S. state of Georgia. According to the 2010 census, Atlanta's population is 420,003. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in...
) and in the UK Download at Donington, Hyde Park Calling and Wireless Festival. Through its LN/Gaiety subsidiary it also manages the Festival Republic festivals at Reading and Leeds. - In July 2006 Live Nation announced it has entered into a definitive merger agreement to acquire HOB EntertainmentHouse of BluesHouse of Blues is a chain of 13 live music concert halls and restaurants in major markets throughout the United States. House of Blues first location was in Cambridge's Harvard Square. It was opened in 1992 by Isaac Tigrett, co-founder of Hard Rock Cafe, and Dan Aykroyd, star of The Blues Brothers...
, Inc., the operator of the House of BluesHouse of BluesHouse of Blues is a chain of 13 live music concert halls and restaurants in major markets throughout the United States. House of Blues first location was in Cambridge's Harvard Square. It was opened in 1992 by Isaac Tigrett, co-founder of Hard Rock Cafe, and Dan Aykroyd, star of The Blues Brothers...
chain of music halls and restaurants. - On October 16, 2007, Live Nation announced it signed a $120 million, 10-year global partnership contract with pop artist MadonnaMadonna (entertainer)Madonna is an American singer-songwriter, actress and entrepreneur. Born in Bay City, Michigan, she moved to New York City in 1977 to pursue a career in modern dance. After performing in the music groups Breakfast Club and Emmy, she released her debut album in 1983...
who will become the founding artist in its new Artist Nation division. The deal consists of all future music and music-related businesses including albums, concert tours, merchandising, fan club/web site, DVDs, music-related television and film projects, and associated sponsorship agreements. - Live Nation owned the aforementioned Broadway Across America series, divested in January, 2008 to Key Brand Entertainment.
- On March 31, 2008, Live Nation announced it signed a 12-year partnership contract with Irish rock band U2U2U2 are an Irish rock band from Dublin. Formed in 1976, the group consists of Bono , The Edge , Adam Clayton , and Larry Mullen, Jr. . U2's early sound was rooted in post-punk but eventually grew to incorporate influences from many genres of popular music...
, after quitting Island RecordsIsland RecordsIsland Records is a record label that was founded by Chris Blackwell in Jamaica. It was based in the United Kingdom for many years and is now owned by Universal Music Group...
, it will expire in 2020. - On April 3, 2008, Live Nation announced it signed a 10-year, $150 million music deal with multi-platinum rap artist, Jay-ZJay-ZShawn Corey Carter , better known by his stage name Jay-Z, is an American rapper, record producer, entrepreneur, and occasional actor. He is one of the most financially successful hip hop artists and entrepreneurs in America, having a net worth of over $450 million as of 2010...
, it will expire in 2018. - In July, 2008, Live Nation announced it signed a 3-album-cycle deal with multi-platinum, Canadian rock band, NickelbackNickelbackNickelback is a Canadian rock band from Hanna, Alberta. Since 1995 the band has included guitarist and lead vocalist Chad Kroeger, guitarist and back-up vocalist Ryan Peake and bassist Mike Kroeger.. The band's current drummer and percussionist is Daniel Adair who has been with the band since 2005....
.
Worldwide
- Acquired Italian music promoters Milano Concerti and Friends & Partners Agency.
- Management of the former Olympic Venues (TOP Turin Olympic Park) in Turin, including the biggest Italian arena PalaOlimpico.
- Worldwide subsidiaries include Welldone Agency & Promotion (Finland), dkbMotor (Denmark), EMA Telstar (Sweden) and Gunnar Eide Concerts (Norway).
- Live Nation's subsidiary Mojo Concerts is the biggest organiser of concerts in The Netherlands with over 200 concerts and a total of a million visitors a year. Well known festivals include PinkpopPinkpopPinkpop Festival, or Pinkpop for short, is an annual festival held at Landgraaf, Netherlands. It is held annually on the Pentecost weekend...
, Lowlands, Arrow Rock FestivalArrow Rock FestivalArrow Rock Festival is a rock festival that takes place on a yearly basis since 2003 in the Netherlands. This festival presents mostly classic rock bands. The original location for the festival was Lichtenvoorde; until 2007 when the venue changed to Biddinghuizen. 2008 saw another location change,...
and North Sea JazzNorth Sea Jazz FestivalThe North Sea Jazz Festival is an annual jazz festival held each second weekend of July in the Netherlands at the Ahoy venue. It used to be in The Hague but since 2006 it has been held in Rotterdam...
. - Owns Clear Channel Entertainment do Brasil Ltda, a BrazilBrazilBrazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
ian music promotion and production company - Acquires Music and Entertainment producers GAMERCO, the biggest Spanish promotion and production company.
- In the United Kingdom, as Live Nation UKLive Nation UKLive Nation UK is the United Kingdom subsidiary of Live Nation, formerly the entertainment division of Clear Channel, a major US media conglomerate but now a separate and independent corporation worldwide...
, owns/ manages:- A concert promotion business which promotes large outdoor concerts in Hyde Park, LondonHyde Park, LondonHyde Park is one of the largest parks in central London, United Kingdom, and one of the Royal Parks of London, famous for its Speakers' Corner.The park is divided in two by the Serpentine...
, as well as numerous small and medium concert venues across the country. - Download FestivalDownload FestivalThe Download Festival is a three day rock music festival held annually at Donington Park, England . It usually takes place in June...
, Wireless FestivalWireless FestivalThe Wireless Festival is a music festival in England that takes place every year in Hyde Park, London, and took place at Harewood House, Leeds in 2006 and 2007. It is owned and managed by Live Nation....
and Hyde Park Calling - A 50.1% stake in Festival Republic, and thus interests in:
- Several music festivals, including the production of Glastonbury FestivalGlastonbury FestivalThe Glastonbury Festival of Contemporary Performing Arts, commonly abbreviated to Glastonbury or even Glasto, is a performing arts festival that takes place near Pilton, Somerset, England, best known for its contemporary music, but also for dance, comedy, theatre, circus, cabaret and other arts.The...
, Reading and Leeds FestivalsReading and Leeds FestivalsThe Reading and Leeds Festivals are a pair of annual music festivals that take place in Reading and Leeds in England. The events take place simultaneously on the Friday, Saturday and Sunday of the August bank holiday weekend, sharing the same bill. The Reading Festival is held at Little John's Farm...
, Latitude FestivalLatitude FestivalThe Latitude Festival is an annual music festival that takes place in Henham Park, Southwold, Suffolk, England. It was first held in July 2006.... - Some medium-sized London music venues, including the London AstoriaLondon AstoriaThe London Astoria was a music venue, located at 157 Charing Cross Road, in London, England. It had been leased and run by Festival Republic since 2000. It was closed on 15 January 2009 and has since been demolished...
. In March 2007 Live Nation/Gaiety bought a majority share in a further 10 music venues from the Academy Music GroupAcademy Music GroupAcademy Music Group is a leading owner-operator of music venues in the United Kingdom. They operate a number of medium sized venues, the majority of which took the name Carling Academy after their sponsor Carling. Some of these academies also contain smaller venues used for less well known acts...
including the Brixton Academy and Shepherds Bush EmpireShepherds Bush EmpireThe O2 Shepherds Bush Empire is a music venue in Shepherd's Bush, London, England, run by the Academy Music Group. It was built in 1903, as a music hall, and in 1953 became the BBC Television Theatre...
.
- Several music festivals, including the production of Glastonbury Festival
- Management and Operations at London Wembley ArenaWembley ArenaWembley Arena is an indoor arena, at Wembley, in the London Borough of Brent. The building is opposite Wembley Stadium.-History:...
, Motorpoint Arena Cardiff, Motorpoint Arena Sheffield, O2 Apollo Manchester and Southampton GuildhallSouthampton GuildhallSouthampton Guildhall is the former town hall of Southampton, Hampshire. It is now in use as a multi-purpose venue for cultural events. It is part of the Civic Centre complex, which also includes includes a police station, council offices, the well-endowed city art gallery, and the city...
. - A large majority of the UK's biggest regional theatre houses were owned/managed by Live Nation until October 2009 when the majority were sold to ATG, including the Sunderland Empire Theatre, Palace Theatre, ManchesterPalace Theatre, ManchesterThe Palace Theatre, Manchester, is one of the main theatres in Manchester, England. It is situated on Oxford Street, on the north-east corner of the intersection with Whitworth Street. The Palace and its 'sister' theatre the Manchester Opera House on Quay Street are operated by the same parent...
, Grimsby AuditoriumGrimsby AuditoriumGrimsby Auditorium is a theatre situated on Cromwell Road, in Grimsby, North East Lincolnshire. With a seated audience capacity of 1,200 the Grimsby Auditorium is the largest professional theatre in Lincolnshire, and one of the larger theatres in the East of England...
, Alexandra TheatreAlexandra TheatreThe New Alexandra Theatre, commonly known as The Alex, is a theatre on Station Street in Birmingham, England.Construction of the theatre commenced in 1900 and was completed in 1901. The architects were Owen & Ward. The theatre was opened on 27 May 1901 as the Lyceum Theatre on John Bright Street;...
in BirminghamBirminghamBirmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
, Lyceum Theatre, London, Edinburgh PlayhouseEdinburgh PlayhouseThe Edinburgh Playhouse is a former cinema in Edinburgh, Scotland which now hosts touring musicals and music concerts. Its capacity is 3,059, making it the UK's largest working theatre in terms of audience capacity....
, Liverpool EmpireLiverpool Empire TheatreLiverpool Empire Theatre is located on the corner of Lime Street and London Road in Liverpool, Merseyside, England. The theatre is the second to be built on the site, and was opened in 1925. It has the largest two-tier auditorium in Britain and can seat 2,350 people...
, New Theatre OxfordNew Theatre OxfordThe New Theatre Oxford is the main commercial theatre in Oxford, England and has a capacity of 1,800 people....
and Bristol HippodromeBristol HippodromeThe Bristol Hippodrome is a theatre in the centre of Bristol, England with seating on three levels giving a capacity of 1,951. It frequently features West End theatre shows when they tour the UK as well regular visits by Welsh National Opera, and an annual pantomime.- History :The theatre was...
. In addition, the Dominion TheatreDominion TheatreThe Dominion Theatre is a West End theatre on Tottenham Court Road close to St Giles Circus and Centre Point Tower, in the London Borough of Camden.-History:...
, London was managed by Live Nation until October 2009 when it was bought outright by the majority owner Nederlander Dominion Ltd.
- A concert promotion business which promotes large outdoor concerts in Hyde Park, London
- In Ireland, Live Nation own a half share in The O2, DublinThe O2, DublinThe O2 is a 14,000-seat amphitheatre located at North Wall Quay in the Dublin Docklands in Dublin, Ireland, which opened on 16 December 2008. The venue is jointly owned by Live Nation and Harry Crosbie with Live Nation in charge of programme booking and operating the venue...
– formally known as The Point Depot. - In Belgium, Live Nation organises big festivals, like Rock WerchterRock WerchterRock Werchter is a Belgian annual music festival held in the village of Werchter, near Leuven, since 1974. It is one of the five biggest annual rock music festivals in Europe...
, Graspop Metal MeetingGraspop Metal MeetingGraspop Metal Meeting is an annual metal festival in Dessel, Belgium that has taken place each year since 1996. Despite the small size of the festival grounds the festival draws a large number of international spectators, with a total of 142,000 visitors in the course of the 2011 edition...
and I Love TechnoI Love TechnoI Love Techno is an international techno event that takes place in Flanders Expo in Ghent, Belgium.Famous national and international DJs perform every year at this event... - In Canada, Pemberton FestivalPemberton FestivalThe Pemberton Festival was a three-day summer music festival inaugurated in 2008. It was held in Pemberton, British Columbia, a village just north of popular ski resort Whistler. Produced by Live Nation Canada, the festival featured primarily rock and indie rock musicians, with a small proportion...
was launched in July 2008 by Live Nation. - In France, Live Nation organises the Main Square FestivalMain Square FestivalThe Main Square Festival is a music festival located in Arras, France. The festival takes place in early July.Until 2010 the Festival was held on the Grande Place in Arras...
since 2009 as well as a few other shows like Depeche Mode in Liévin in 2010
Proposed merger
On February 10, 2009, Live Nation and Ticketmaster EntertainmentTicketmaster
Ticketmaster Entertainment, Inc. is an independent American ticket sales and distribution company based in West Hollywood, California, USA, with operations in many countries around the world. In 2010 it merged with Live Nation to become Live Nation Entertainment...
announced that they have entered into a definitive merger agreement to create a combined entity, to be called Live Nation Entertainment
Live Nation Entertainment
Live Nation Entertainment is the new corporate name and owner of Live Nation and Ticketmaster, who have merged. The leadership consists of John C. Malone Chairman of Liberty Media as Chairman and Michael Rapino, as President and CEO of the new company...
. Ticketmaster's press release said Live Nation produces live concerts in 57 countries.
The proposal has received regulatory approval in Norway and Turkey.
In October 2009, the United Kingdom's Competition Commission
Competition Commission
The Competition Commission is a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom...
provisionally ruled against the merger with Ticketmaster.. On December 22, 2009, the Competition Commission decided to clear the proposed merger.
Separate regulatory reviews of the proposal continued in the United States and Canada. The United States Department of Justice
United States Department of Justice
The United States Department of Justice , is the United States federal executive department responsible for the enforcement of the law and administration of justice, equivalent to the justice or interior ministries of other countries.The Department is led by the Attorney General, who is nominated...
approved the merger in 2010 subject to review by a federal judge after a 60-day comment period. A conditions of the approval, Ticketmaster agreed to license its software to rival Anschutz Entertainment Group
Anschutz Entertainment Group
The Anschutz Entertainment Group is a sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. It is the world's largest owner of sports teams and sports events, the owner of the world’s most profitable sports and entertainment venues, and under AEG Live the world's...
, and to sell its subsidiary Paciolan to Comcast Spectacor, Comcast's sporting events subsidiary. The company also agreed not to interfere with competition for the ten year life of the agreement.
Criticism
Bruce SpringsteenBruce Springsteen
Bruce Frederick Joseph Springsteen , nicknamed "The Boss," is an American singer-songwriter who records and tours with the E Street Band...
said "...the one thing that would make the current ticket situation even worse for the fan than it is now would be Ticketmaster and Live Nation coming up with a single system, thereby returning us to a near monopoly situation in music ticketing".
In a January 25, 2010 press release, the TicketDisaster.org group—a coalition of consumer rights and anti-trust groups—also issued the following statement about the proposed Live Nation-TicketMaster merger:
"Despite its "monopoly-like dominance" controlling 70 to 80 percent of all concert ticket sales, Ticketmaster is unabashedly seeking to grow its empire - all to the detriment of the average fan. Ticketmaster is now trying to dampen competition by merging with Live Nation, the nation's largest concert promoter and second largest primary ticket seller. That merger is coming under heavy fire from consumer and industry groups and Members of Congress, particularly because of the clear anti-consumer and anti-competitive effects.
"As the Department of Justice reaches the final round of reviewing this merger, only one question must be answered: will the merger lead to increased prices, poorer service, or less innovation?"
Sources
- Live Nation rocks the music industry Paul Sloan, Fortune Magazine, November 30, 2007. Accessed July 2008
- http://money.cnn.com/2007/11/30/news/companies/live_nation.fortune/index.htm CCE Spinco, Inc. Common Stock Issue. At Us Government Archives. Accessed July 2008
External links
- LiveNation.com
- Live Nation takes over Clear Channel's concerts -- The Boston GlobeThe Boston GlobeThe Boston Globe is an American daily newspaper based in Boston, Massachusetts. The Boston Globe has been owned by The New York Times Company since 1993...