Posts Tagged ‘Live Nation

16
Dec
20

The Music Industry in the COVID-19 Pandemic – Live Nation

The COVID-19 pandemic hits the live music sector hardest since the end of World War II. The sector has been shut down since March 2020 in most of the countries. Concert and festivals were cancelled or postponed due to social distancing and lockdown measures. A report of Media Insight Consulting[1] estimates that 64 per cent of the UK’s live music workforce of 262,000 full-time employees will have lost their jobs by Christmas. Thus, 170,000 cultural workers in the music sector – most of them self-employed and freelance workers – will be out of work. At the end of March 2020, the German music industry associations estimated a loss of revenue for the live music sector of EUR 4,543 million for the period from April to September 2020. We can expect a much higher revenue loss for the last quarter 2020 due to the continued lockdown of the German music festival and concert sector.

However, the live music sector is highly fragmented and diverse. The international concert promoting market is dominated by large live music conglomerates such as the US-based Live Nation and Anschutz Entertainment Group (AEG) as well as the German CTS Eventim. They control an oligopolistic industry with myriads of small music venues, concert promoters, bookers and management agencies that have no impact on the market structure and processes. These medium and small sized live music organizers struggle for survival and are dependent on public financial support. However, how is the situation for the large conglomerates? Is their existence also at stake? This blog post tries to answer these question by analysing the impact of the COVID-19 pandemic on the world’s largest concert and ticketing conglomerate Live Nation. Based on the quarterly reports from January to September 2020, it is analysed how the live entertainment giant has been affected by the pandemic and highlights Live Nation’s strategy to weather the storm.

Continue reading ‘The Music Industry in the COVID-19 Pandemic – Live Nation’

01
Jan
17

Music Business Research 2016 – in retrospective

Dear readers of the music business research blog,

2016 seems to be the pivotal year in the recorded music industry. Although no annual statistics have been published until yet, we can take it for granted that the positive trend of 2015 continued in 2016. In 2015, the global recorded music market expanded by 3.4%. The US-market slightly grew by 0.9% and the German recorded music sales even increased by 4.4%.

The booming music streaming market was of course the main driver for the economic recovery of the recorded music business in 2015 and we can expect a further growth in 2016 and the upcoming year. The revenue growth of the streaming business compensated for the decline in CD sales, despite decreasing music download sales as highlighted in “The fate of the CD – an international CD-market analysis”. However, an in-depth analysis of the statistics unveils very different market dynamics in various countries. Whereas music streaming is the main business of the recorded music industry in Scandinavia, CD sales are still relevant in Germany and in Japan (see “The Music Streaming Market Revisited, 2011-2015”).

Continue reading ‘Music Business Research 2016 – in retrospective’

19
May
16

Live Nation in the Digital Paradigm Shift

In the course of digitization new players entered the music industry changing the rules of the game. Such a player is Live Nation. Live Nation Entertainment is the result of the merger of the world’s largest music promotion company, Live Nation, and the world’s largest ticketing company, Ticketmaster, in 2010. The Ticketmaster-Live Nation merger marks the beginning of a new era in the music business, with all activities within the industry now being integrated, including live music events, venue operations, ticketing services, sponsorship and advertising sales, and artist management and services (Live Nation 2015: 4). In the following Live Nation’s business model and economic performance after the merger is portrayed and analysed.

Continue reading ‘Live Nation in the Digital Paradigm Shift’

26
Oct
11

Ticket Masters – Part 6: The Begin of a New Era – the Ticketmaster-Live Nation Merger

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

In the last part of the summary of Budnick’s and Baron’s book the merger of Ticketmaster and Live Nation as well as the emergence of 360 deals are highlighted.

Continue reading ‘Ticket Masters – Part 6: The Begin of a New Era – the Ticketmaster-Live Nation Merger’

06
Oct
11

Ticket Masters – Part 5: SFX Entertainment and the Revolution in the Concert Promotion Business

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

Until the mid-1990s the US concert promotion business was dominated by local venues and promoters. This changed dramatically when SFX Entertainment appeared on the scene. In part 5 the rise of SFX Entertainment to the main power of concert promotion and its transformation into Live Nation is summarized.

Continue reading ‘Ticket Masters – Part 5: SFX Entertainment and the Revolution in the Concert Promotion Business’




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