Live Nation Entertainment

Last updated
Live Nation Entertainment, Inc.
Public
Traded as NYSE:  LYV
S&P 400 Component
Industry Entertainment
FoundedJanuary 25, 2010;9 years ago (2010-01-25)
Headquarters,
Area served
Worldwide
Key people
Services
RevenueIncrease2.svg US$10.337 billion(2017) [1]
Decrease2.svgUS$91 million(2017) [1]
Decrease2.svgUS$-6 million(2017) [1]
Total assets Increase2.svgUS$7.504 billion(2017) [1]
Total equity Decrease2.svgUS$1.181 billion(2017) [1]
Owner Liberty Media (34.2%) [2]
Number of employees
~8,800 (December 2017) [1]
Subsidiaries Roc Nation
Ticketmaster
Live Nation Concerts
Front Line Management Group
Live Nation Network
C3 Presents
AC Entertainment

Live Nation Merchandise
Website livenationentertainment.com

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.

United States Federal republic in North America

The United States of America (USA), commonly known as the United States or America, is a country comprising 50 states, a federal district, five major self-governing territories, and various possessions. At 3.8 million square miles, the United States is the world's third or fourth largest country by total area and is slightly smaller than the entire continent of Europe's 3.9 million square miles. With a population of more than 327 million people, the U.S. is the third most populous country. The capital is Washington, D.C., and the most populous city is New York City. Forty-eight states and the capital's federal district are contiguous in North America between Canada and Mexico. The State of Alaska is in the northwest corner of North America, bordered by Canada to the east and across the Bering Strait from Russia to the west. The State of Hawaii is an archipelago in the mid-Pacific Ocean. The U.S. territories are scattered about the Pacific Ocean and the Caribbean Sea, stretching across nine official time zones. The extremely diverse geography, climate, and wildlife of the United States make it one of the world's 17 megadiverse countries.

Entertainment activity that holds the attention and interest of an audience, or gives pleasure and delight

Entertainment is a form of activity that holds the attention and interest of an audience, or gives pleasure and delight. It can be an idea or a task, but is more likely to be one of the activities or events that have developed over thousands of years specifically for the purpose of keeping an audience's attention. Although people's attention is held by different things, because individuals have different preferences in entertainment, most forms are recognisable and familiar. Storytelling, music, drama, dance, and different kinds of performance exist in all cultures, were supported in royal courts, developed into sophisticated forms and over time became available to all citizens. The process has been accelerated in modern times by an entertainment industry that records and sells entertainment products. Entertainment evolves and can be adapted to suit any scale, ranging from an individual who chooses a private entertainment from a now enormous array of pre-recorded products; to a banquet adapted for two; to any size or type of party, with appropriate music and dance; to performances intended for thousands; and even for a global audience.

Mergers and acquisitions transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined

Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position.

Contents

History

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]

Live Nation is an American events promoter and venue operator based in Beverly Hills, California. Formed in 1996 by Robert F. X. Sillerman as SFX Entertainment, the company's business was built around consolidating concert promoters into a national company. In 2000, the company was sold to Clear Channel Communications for $4.4 billion, and operated as Clear Channel Entertainment until 2005, when it was spun off as Live Nation.

Ticketmaster Entertainment, Inc. is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world. In 2010 it merged with Live Nation under the name Live Nation Entertainment.

Michael Rapino is an American business executive and the Chief Executive Officer and President of Live Nation Entertainment, Inc, which was formed in 2010 following the merger of Live Nation and Ticketmaster.

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 Competition Commission was a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom. It was a competition regulator under the Department for Business, Innovation and Skills (BIS). It was tasked with ensuring healthy competition between companies in the UK for the ultimate benefit of consumers and the economy.

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]

Bruce Springsteen American singer and songwriter

Bruce Frederick Joseph Springsteen, nicknamed "The Boss", is an American singer-songwriter who is a solo artist and is the leader of the E Street Band. Springsteen received critical acclaim for his early 1970s albums and attained worldwide fame upon the release of Born to Run in 1975. During a career that has spanned five decades, Springsteen has become known for his poetic and socially conscious lyrics and for his lengthy, energetic stage performances. He has recorded both rock albums and folk-oriented works, and his lyrics often address the experiences and struggles of working-class Americans.

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

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]

Electronic dance music (EDM), also known as dance music, club music, or simply dance, is a broad range of percussive electronic music genres made largely for nightclubs, raves and festivals. It is generally produced for playback by disc jockeys who create seamless selections of tracks, called a mix by segueing from one recording to another. EDM producers also perform their music live in a concert or festival setting in what is sometimes called a live PA. In Europe, EDM is more commonly called 'dance music', or simply 'dance'.

C3 Presents is a concert promotion, event production and artist management company based out of Austin, Texas. C3 also produces several iconic multi-day festivals including Austin City Limits Music Festival in Texas, Voodoo Music + Arts Experience in New Orleans, and Lollapalooza in Chicago along with its six international editions.

BottleRock Napa Valley Music Festival

BottleRock Napa Valley is an annual music festival held at the Napa Valley Expo in Napa, California.

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

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. [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

In 2012, the company announced a partnership with Creativeman Productions, based in Tokyo, Japan. [34]

In June 2013, Live Nation was among those charged with violating Ontario health and safety laws following a stage collapse at a Radiohead concert that killed one crew member. [35] [36] A 2019 inquest returned a verdict of accidental death. [37]

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]

Related Research Articles

Coachella Valley Music and Arts Festival Annual music and arts festival in Indio, California

The Coachella Valley Music and Arts Festival is an annual music and arts festival held at the Empire Polo Club in Indio, California, in the Coachella Valley in the Colorado Desert. It was co-founded by Paul Tollett and Rick Van Santen in 1999, and is organized by Goldenvoice, a subsidiary of AEG Presents. The event features musical artists from many genres of music, including rock, pop, indie, hip hop, and electronic dance music, as well as art installations and sculptures. Across the grounds, several stages continuously host live music.

Anschutz Entertainment Group company

The Anschutz Entertainment Group (AEG) is an American worldwide 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. Under the AEG Presents brand, it is the world's second largest presenter of live music and entertainment events after Live Nation. AEG Presents was started in 2002.

AXS TV American cable & satellite television network

AXS TV is an American cable and satellite television network. It is managed by the film company 2929 Entertainment —which they founded as HDNet in 2001 before it was rebranded as AXS TV in 2012—with a consortium of partners consisting of Anschutz Entertainment Group (AEG), Ryan Seacrest, Creative Artists Agency, and CBS Corporation. The network's programming specializes in live music events, as well as comedy, movies, and mixed martial arts, among others. The AXS TV company includes the channel HDNet Movies.

Tour promoters are the individuals or companies responsible for organizing a live concert tour or special event performance. The tour promoter makes an offer of employment to a particular artist, usually through the artist’s agent or music manager. The promoter and agent then negotiate the live performance contract. The majority of live performance contracts are drawn up using the American Federation of Musicians (AFM) standard contract format known as the AFM Performance Agreement.

Musictoday is an entertainment marketing company located in Crozet, near Charlottesville, Virginia. It was founded and run by Coran Capshaw, the manager of Dave Matthews Band. Musictoday is a pioneer in pre sales of concert tickets, by starting fan clubs for hundreds of artists. Musictoday's first fan club was Dave Matthews Band's Warehouse Fan Association.

Live 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.

Irving Azoff is an American entertainment executive and chairman of Full Stop Management, which represents recording artists.

<i>Billboard</i> Live Music Awards award

The Billboard Live Music Awards is an annual meeting sponsored by Billboard magazine that honors the top international live entertainment industry artists and professionals. Established in 2004, it has thus been described as "part industry conference, part awards show".

Hard is a national music festival, music cruise and concert brand founded by Gary Richards in 2007. The event line-ups consist of alternative and electronic acts and emerging talents. The first Hard Music Festival was held on December 31, 2007 in Downtown Los Angeles and featured Justice, Peaches and 2 Live Crew. Hard is best known for the Hard Summer Music Festival and Hard Haunted Mansion, though also runs several smaller events and once-off shows. Hard is sometimes called "Hardfest" by fans, based on the event's website and social media shortcuts. Additional Hard brands include the Hard Summer, Hard Red Rocks, Hard at Electric Daisy Carnival, and the Holy Ship! electronic music cruise, and former events include Hard Day of The Dead, Hard 13, Turkey Soup and Hard Miami. Live Nation Entertainment acquired Hard in 2012. In 2017, Gary Richards left Live Nation and his brainchild Hard to found his new brand All My Friends as President of LiveStyle North America underneath the LiveStyle, Inc. umbrella.

Songkick is an American technology company that provides concert discovery services and ticket sales for live music events. Songkick’s web and mobile app allows users to track touring artists, receive alerts for concerts in their area and purchase tickets to shows, using technology and services that power ticket sales on behalf of artists.

Pollstar is a trade publication for the concert industry. It gets its information primarily from the agents, managers and promoters who produce concerts.

The Bowery Presents organization

The Bowery Presents, the East Coast regional partner of AEG Live, that owns and operates multiple venues in New York City, Boston, Philadelphia, New Jersey, New Orleans, Virginia, and Maine. Venue capacities range from 250 people to 20,000 people. Since its inception, The Bowery Presents has been a purveyor of artist development and consistently strives to work with artists like LCD Soundsystem, My Morning Jacket, Leon Bridges and Bastille to grow from performing in intimate clubs to performing in sold-out arenas.

Gary Richards (music executive) American music executive

Gary Richards, known by his stage name Destructo, is an American music executive, concert promoter, and DJ. As of September 1, 2017 he is the President of LiveStyle, North America. Prior to joining LiveStyle, he was the founder and CEO of HARD Events, a concert brand that has put on popular music festivals since 2007, and which was acquired in 2012 by Live Nation Entertainment. He has performed professionally as a DJ under the name Destructo for more than 20 years, having toured around the world. He is credited with being a leader in the Electronic music business in North America, and through his events, has helped bring artists like Deadmau5 and Justice into the mainstream. Richards is included on Rolling Stone's "50 Most Important People in EDM" list, Billboard's "EDM Power Players" lists from 2014 - 2017, and inthemix's list of the "50 Most Powerful People in EDM". As Destructo, he has released four EP's titled Technology, Higher,West Coast, and RENEGADE respectively.

LiveStyle is a Los Angeles-based live events conglomerate founded by media entrepreneur Robert F. X. Sillerman. The company was formed in June 2012 as SFX Entertainment—the new incarnation of Sillerman's previous company of the same name, which was sold to Clear Channel Communications and later spun-off in 2005 as Live Nation.

AXS (company) ticketing company

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Eventim UK an events and ticket agent

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References

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