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Live Nation, Inc. is a live events company based in Beverly Hills, Californiamarker. Live Nation formed in 2005 by a spin-off from Clear Channel Communications. The present CEO of the company is Michael Rapino.

Mainly a concert promoter, Live Nation "signs" artist 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. Recently, Live Nation has signed Colombian singer Shakira and Canadian band Nickelback.

Business

Annually Live Nation promotes 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.

Deals

In October 2007, Live Nation announced a new contract with pop singer Madonna 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. Shakira decided not to sign a contract with Live Nation in July 2008. The singer would have to fulfill two more albums and a greatest hits album under her old contract with Sony BMG, but all touring and other aspects of the singers musical career would be in effect with the Live Nation contract.

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 for $152 million between Jay-Z and Live Nation was confirmed. The deal covers financing of Jay-Z's own entertainment venture, live shows, tours and future recordings for the next 10 years. his next album, Blueprint 3, will be distributed by Atlantic Records, while his upcoming label, Roc Nation, will be distributed by Sony Music Entertainment.

House of Blues

In 2006 Live Nation acquired House of Blues. Current locations of the House of Blues include:

(in state order alphabetically)





Corporate governance

Current members of the board of directors 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

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 EMI, Sony Music, Universal Music Group and Warner Music Group with artists such as U2, Madonna, Jay-Z 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, which sources say are still in their early stages, represent 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 follows last week's 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.Sources cautioned, however, that without a new album due to Live Nation for at least 18 months, the company is in no rush to make a decision.

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 only worth 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 U2's most recent album, "No Line on the Horizon". No Line on the Horizon achieved platinum status in the international market and has sold over 900,000 albums to date.

Top executives

  • Michael Rapino – chief executive officer; married to Jolene Blalock
  • Arthur Fogel – Chairman of Global Music, Chief Executive Officer — Global Touring
  • Jason Garner – CEO, Global Music
  • John Hopmans - Executive Vice President, Mergers and Acquisitions and Strategic Finance
  • Nathan Hubbard – CEO, Ticketing
  • Noah Maffitt - EVP/GM Global Digital
  • Alan Ridgeway – CEO, International Music


  • Michael Rowles – Executive Vice President and General Counsel
  • Ben Weeden - Chief Operating Officer, North American Music
  • Kathy Willard – Chief Financial Officer and Executive Vice President
  • Phil Bowdery - President of Touring, Live Nation International Music
  • Paul Latham - Chief Operating Officer, Live Nation International Music


Companies

United States



Worldwide

  • Acquired Italianmarker music promoters Milano Concerti and Friends & Partners Agency.
  • Worldwide subsidiaries include Welldone Agency & Promotion (Finlandmarker), dkbMotor (Denmarkmarker), EMA Telstar (Swedenmarker) and Gunnar Eide Concerts (Norwaymarker).
  • Live Nation's subsidiary Mojo Concerts is the biggest organiser of concerts in The Netherlandsmarker with over 200 concerts and a total of a million visitors a year. Well known festivals include Pinkpopmarker, Lowlandsmarker, Arrow Rock Festival and North Sea Jazz.
  • Owns Clear Channel Entertainment do Brasil Ltda, a Brazilianmarker music promotion and production company
  • Acquires Music and Entertainment producers GAMERCO, the biggest Spanishmarker promotion and production company.




Criticism

Bruce Springsteen 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 October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger with Ticketmaster.

See also



Sources

  1. Jay-Z to sign deal with Live Nation Rosie Swash, The Guardian, April 3, 2008. Accessed July 2008
  2. Record labels need 'reinventing'
  3. Corporate Overview - Investor Site
  4. PR Newswire
  5. http://www.billboard.com/bbcom/news/jay-z-confirms-roc-nation-deals-with-sony-1003989086.story
  6. http://www.rollingstone.com/rockdaily/index.php/2009/07/01/jay-z-talks-ditching-def-jam-new-deals-im-an-entrepreneur/
  7. Live Nation Investor Site - Corporate Governance - Board of Directors
  8. http://www.nypost.com/seven/07302008/business/a_different_tune_122233.htm
  9. U2 ties knot with Live Nation deal
  10. Corporate Governance - Management
  11. Live Nation Announces New Key Positions in International Music Head Office


External links




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