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Live Nation Looks For More Business Arenas

Live Nation CEO Michael Rapino has mounted what he calls a "transformation" aimed at finding new ways--big and small--to use its platform as the world's largest concert promoter for expansion. Part of that transformation means moving into areas traditionally controlled by other players in the music industry, such as record labels.

Live Nation's move into ancillary businesses, such as concert merchandise, were the underpinning of its $120 million deal with Madonna, which makes Live Nation the pop star's exclusive partner for merchandise, recorded music, touring and other music-related businesses for 10 years. The company expects to strike similar deals with about three dozen other artists.

Rapino also wants to lessen the company's dependence on its 52 amphitheaters around the country, which are out of vogue with concertgoers and ultimately offer few ways of making money beyond parking and concessions revenue. In a related branding effort, the company is renaming many of its midsize clubs "Fillmore," after the historic venue it operates in San Francisco.



Read the whole story at The Wall Street Journal »

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