Live Nation is building a new music industry model inside the walls of its Beverly Hills headquarters. Already the world’s largest concert promoter since its spinoff from Clear Channel Communications in 2005, Live Nation bills its strategy as “the industry’s first artist-to-fan vertically integrated concert platform.”
What that means is that major acts no less than Madonna, Jay-Z, Shakira and U2 have signed on with multimillion-dollar deals that allow Live Nation to alternately produce their recordings, handle their marketing and merchandising and, of course, manage their live performances. The company has seen its share of controversy — concert fans have grumbled about its current bid to merge with No. 1 ticket seller Ticketmaster Entertainment, which is still under review by the Justice Department. The company has stated it expects the deal to close in early 2010.
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