Has Live Nation made its last Irish deal?
It has been a busy week for live music giants Live Nation in Ireland and abroad. While Live Nation’s solo Irish gig to date has been the management of the Point venue in Dublin, their influence on the domestic scene …
It has been a busy week for live music giants Live Nation in Ireland and abroad.
While Live Nation’s solo Irish gig to date has been the management of the Point venue in Dublin, their influence on the domestic scene is set to increase.
Venue owner Harry Crosbie announced in an interview with this paper last week that Live Nation will look after all his venues, including Vicar Street and mooted new venues Vicar Street 2 and the Grand Canal Square theatre.
However, this may not be the last move by Live Nation in the Irish live music market this year.
The company’s long-standing global policy has been to buy out successful promoters and live venue operators in profitable territories, so it stands to reason that the company may well be considering a similar acquisition here.
Live Nation would not have to look far for an ideal fit as they already have a significant working relationship with promoter Denis Desmond. The MCD boss established investment vehicle Hamsard with Live Nation to acquire the Mean Fiddler business, now rebranded as Festival Republic, in the UK.
The 10 year deal, worth a reputed $120 million, will cover all of the artist’s future music and music-related business ventures including touring, merchandising, websites and sponsorship agreements.
It will be interesting to see how future Madonna releases will perform, especially given the slide in quality in this department in recent years.
Either way, we can look forward to seeing Madonna on a stage for many years to come, which is good news for her former label Warner Music, as they still control the back catalogue.
Live Nation have now established the Artist Nation division as an one-stop shop to oversee the activities of acts like Madonna.
Such a move means the company are now very much in the business of signing acts.
However, they’re likely to concentrate on those heritage acts with established fanbases coming to the end of their current major label contracts rather than sign loads of new bands.
As new acts will quickly discover in the coming years, it is the major labels and the major labels alone who have historically invested seed capital in untried and untested acts.