2015 Thunder Bay Convocation Program
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The U2 360- Degree Tour and Its Implications on the Concert Industry
THE BIGGEST SHOW ON EARTH: The U2 360- Degree Tour and its implications on the Concert Industry An Undergraduate Honors Thesis by Daniel Dicker Senior V449 Professor Monika Herzig April 2011 Abstract The rock band U2 is currently touring stadiums and arenas across the globe in what is, by all accounts, the most ambitious and expensive concert tour and stage design in the history of the live music business. U2’s 360-Degree Tour, produced and marketed by Live Nation Entertainment, is projected to become the top-grossing tour of all time when it concludes in July of 2011. This is due to a number of different factors that this thesis will examine: the stature of the band, the stature of the ticket-seller and concert-producer, the ambitious and attendance- boosting design of the stage, the relatively-low ticket price when compared with the ticket prices of other tours and the scope of the concert's production, and the resiliency of ticket sales despite a poor economy. After investigating these aspects of the tour, this thesis will determine that this concert endeavor will become a new model for arena level touring and analyze the factors for success. Introduction The concert industry handbook is being rewritten by U2 - a band that has released blockbuster albums and embarked on sell-out concert tours for over three decades - and the largest concert promotion company in the world, Live Nation. This thesis is an examination of how these and other forces have aligned to produce and execute the most impressive concert production and single-most successful concert tour in history. -
360° Deals: an Industry Reaction to the Devaluation of Recorded Music
360° DEALS: AN INDUSTRY REACTION TO THE DEVALUATION OF RECORDED MUSIC SARA KARUBIAN* I. INTRODUCTION In October of 2007, Radiohead released In Rainbows without a record label. The band’s contract with record company EMI had been fulfilled in 2003, and Radiohead did not bother finding a new deal as they began recording their seventh album.1 Radiohead then made the album available at www.inrainbows.com, where fans were instructed to “pay-what-you- want” for the digital download.2 Shortly after the album’s release, the band’s front man, Thom Yorke, said “I like the people at our record company, but the time is at hand when you have to ask why anyone needs one. And, yes, it probably would give us some perverse pleasure to say ‘F___ you’ to this decaying business model.”3 It was no surprise that Radiohead received critical acclaim for the artistic merits of the album,4 or that millions of fans found a way to acquire the music. Its financial success, however, was less predictable. Radiohead declined to release statistics related to its pay-what-you-want model, but a conservative estimate suggests that the band’s profits from this digital release exceeded six and a half million.5 Furthermore, when Radiohead contracted with iTunes and a distributor to sell the album on iTunes and in stores, its high sales pushed it to the top of traditional album charts6 in early * J.D. Candidate, University of Southern California Law School, 2009; B.A. University of California Berkeley, 2006. A special thank you to Gary Stiffelman, Professor Jonathan Barnett, and Professor Lance Grode. -
Jeremy Larochelle Strategic Analysis of Live Nation Entertainment
Strategic Analysis of Live Nation Entertainment 1 Strategic Analysis of Live Nation Entertainment Jeremy Larochelle, MBA Strategic Analysis of Live Nation Entertainment 2 Executive Summary The following is an in-depth analysis of Live Nation Entertainment’s strategy, competitive position and business execution practices based on concepts from the book Crafting and executing strategy by Arthur A. Thompson Jr., Dr. A.J. (Lonnie) Strickland, John E. Gamble and Margaret A. Peteraf. Data for this study were gathered from the organization’s internal documents including Live Nation’s 2013 Annual Report and the Investor Relations section of their website as well as third-party research, news clippings and industry analysis. The report also calls upon the author’s experience in the music promotion market as a booking agent and marketing specialist. The research revealed an organization executing a well-crafted strategy to vertically integrate the unique value chain elements of their main concert business. As a result, Live Nation has catapulted past their competition in the U.S. concert and event promotion market as well as the global online ticketing industry where they hold commanding market shares in each. Despite this success, there is still opportunity for the publically traded company to grow and improve. For example, management has stated that they will continue to expand globally and advance their mobile ticketing platform. In addition, the author offers recommendations in a number of key areas to help propel the business even further. These are found at the end of each section along with a full recommendation to conclude the paper. Strategic Analysis of Live Nation Entertainment 3 Table of Contents Executive Summary ............................................................................................................................. -
MEIEA 2011.Indd
Journal of the Music & Entertainment Industry Educators Association Volume 11, Number 1 (2011) Bruce Ronkin, Editor Northeastern University Published with Support from The Biggest Show on Earth: The U2 360-Degree Tour and Its Implications for the Concert Industry Dan Dicker The MEIEA Journal occasionally features outstanding student papers. This undergraduate research paper was written by Dan Dicker, a recent graduate of Indiana Uni- versity. Introduction The concert industry handbook is being rewritten by U2—a band that has released blockbuster albums and embarked on sell-out concert tours for over three decades—and the largest concert promotion company in the world, Live Nation. This thesis is an examination of how these and other forces have aligned to produce and execute the most impressive con- cert production and single most successful concert tour in history. During the course of this study, the findings will prove that no other concert pro- motion firm or artist of the current era could match the accomplishments of the 360-Degree tour, possibly for the rest of time. In an examination of the industry as a whole both past and pres- ent, this study illustrates that the concert industry has consolidated into companies that can coordinate massively successful tours across the globe single-handedly—a first for the industry. It will also explain that the in- dustry has undergone a period of steady growth in the past decade, but has encountered turbulent times in the past few years. Also, this section will list the most successful tours of the past. These details give the 360 tour historical and economic context from which the accomplishments can be fully appreciated. -
2008 Annual Report to Our Shareholders
2008 ANNUAL REPORT TO OUR SHAREHOLDERS The past year was an outstanding one for Live Nation. We continued to successfully execute our strategic plan, generating improved performance across our core business and positioning our organization for growth over the long term. Despite a challenging economic environment, millions of fans continue to attend live concerts to support their favorite artists. In 2008, our 22,000 con- certs were attended by over 52 million fans, a 32% increase in events and a 12% increase in attendance compared to 2007. We currently believe that our concert activities in 2009 will match the levels we achieved in 2008. This will represent a considerable achievement given the state of the global econ- omy and our robust performance in 2008. Our show lineup remains robust, with a roster of major artists including U2, Madonna, Jonas Brothers, Nickelback, Coldplay and AC/DC, among others. Three years ago, we began a mission aimed at transforming a declining and fragmented live entertainment company into a vertical live music growth company. That mission had three prongs: 1) Divesting non-core assets, a process now 90% completed. 2) Strengthening our core North American Music business through a combination of organic growth drivers and more effective cost management. Over three years, revenues in this segment have grown over 65%. 3) Vertically expanding into the online/ticketing e-commerce business to sell more tickets. In December 2008, Livenation.com became a full-service ticketing site for our owned and/or operated venues – powered by our ticketing platform. We are excited about the opportunities that lie ahead for Live Nation. -
LIVE NATION ENTERTAINMENT, INC. (Exact Name of Registrant As Specified in Its Charter)
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2012, OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32601 LIVE NATION ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 20-3247759 (State of Incorporation) (I.R.S. Employer Identification No.) 9348 Civic Center Drive Beverly Hills, CA 90210 (Address of principal executive offices, including zip code) (310) 867-7000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on which Registered Common Stock, $.01 Par Value per Share; New York Stock Exchange Preferred Stock Purchase Rights Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. x Yes ¨ No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ¨ Yes x No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and 2) has been subject to such filing requirements for the past 90 days. -
Live Nation to Open Office in Moscow
LIVE NATION TO OPEN OFFICE IN MOSCOW LOS ANGELES – (DATE) – Live Nation Entertainment, Inc. (NYSE: LYV) today announced that it will be expanding operations into Russia and the Ukraine, a territory with a combined population of over 200 million. Tim McWilliams, currently Vice President of European Tour Operations for Live Nation Global Touring, has been named Managing Director, Live Nation Russia and Ukraine, which will be opening an office in Moscow in the New Year. “Establishing an office in Russia is the next step in our global expansion,” said Michael Rapino, CEO of Live Nation Entertainment. “Russia and nearby markets have become an important part of our global tours in recent years, and by establishing a local presence we can rapidly scale our concerts for over 200 million fans.” Alan Ridgeway, Live Nation President of International & Emerging Markets, said: “Due to the volume of live events that are already taking place in Russia and the Ukraine and the enormous growth potential, we wanted to establish a team to focus specifically on Live Nation’s interests in the region. Tim has gained a wealth of knowledge from working with our Global Touring team, and not only has he worked producing high profile events around the world, but his extensive experience in Russia and the Ukraine makes him a perfect fit to direct Live Nation’s business in the region.” Tim McWilliams, Managing Director, Live Nation Russia and Ukraine said: “Russia and the Ukraine are markets that deserve our attention and focus. We have learned this through our experiences over the years with artists such as Madonna, Lady Gaga, U2, Shakira and many others.