Live Nation Entertainment
Live Nation Entertainment, Inc. is an American multinational entertainment company that was founded in 2010 following the merger of Live Nation and Ticketmaster. It promotes, operates and manages ticket sales for live entertainment internationally. It also owns and operates entertainment venues and manages the careers of music artists.
For the event promoting subsidiary, see Live Nation (events promoter).Formerly
Live Nation, Inc.
January 25, 1995
Worldwide
Ticketing technology
US$22.7 billion (2023)
US$1.07 billion (2023)
US$734 million (2023)
US$19.1 billion (2023)
US$–17 million (2023)
Liberty Media (30.62%)
14,700 (2023)
- Ticketmaster
- Live Nation Concerts
- Front Line Management Group
- Live Nation Network
- C3 Presents
- AC Entertainment
- Live Nation Merchandise
The company has faced widespread criticism over its central role in the consolidation of the live events industry, allegations that it proactively engages in anti-competitive practices, poor handling of the ticket sale process for highly popular events, and injuries and deaths that have occurred at many of its events.
As of early 2023, Live Nation's annual shareholders report says the company has controlling interests in 338 venues globally and believes itself to be "the largest live entertainment company in the world," "the largest producer of live music concerts in the world," "the world’s leading live entertainment ticketing sales and marketing company," and "one of" the world's biggest artist management companies and music advertising networks for corporate brands.[3]
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.[4][5] Michael Rapino, then CEO of Live Nation, became the new company's CEO, while Ticketmaster CEO Irving Azoff was named executive chairman.[6]
The merger was approved first in Norway and Turkey in 2009.[7] The United Kingdom's Competition Commission provisionally ruled against the merger,[8] but reversed its decision on December 22, 2009.[7]
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.[9][10] Rock musician Bruce Springsteen was a vocal opponent of the merger at the time.[11]
On January 25, 2010, the U.S. Justice Department approved the merger pending certain conditions.[12] Ticketmaster had to sell ownership of its self-ticketing company, Paciolan,[12] and license its software to Anschutz Entertainment Group (AEG), which would allow it to compete "head-to-head" with Ticketmaster for business.[13][14] AEG was given the option after five years to buy the software, replace it with something else, or partner with another ticketing company.[13] 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.[14]
Operating divisions[edit]
Live Nation Entertainment's business segments are concerts, ticketing, and sponsorship and advertising.[15] The company promotes and operates live music events and manages artists under its concerts division Live Nation Concerts.[15] Live Nation Entertainment's artist management arm, called Artist Nation, is included within its concerts division[46][15] and also includes Front Line Management and Roc Nation.[47] Live Nation Entertainment owns and operates hundreds of venues globally.[3] The company sells tickets to live events through Ticketmaster.[15]
