Live Nation get into the groove
Live Nation are about to go raving. As reported by Digital Music News this week, the giant music company are hoping to grab a slice of the US dance music event market with their new Electronic Nation division. It’s a …
Live Nation are about to go raving. As reported by Digital Music News this week, the giant music company are hoping to grab a slice of the US dance music event market with their new Electronic Nation division.
It’s a smart move. 2010 was a bad year for Live Nation and everyone else in the live music business Stateside. They’ve spent the early part of this year trimming costs, selling lots of tickets for Prince, Lady Gaga and U2 and instigating better pricing policies (which may be behind a 10 per cent year-on-year jump in ticket sales between ’10 and ‘11).
Aside from its main event in Las Vegas, which will attract 120,000 for Tiesto, David Guetta and Swedish House Mafia, Electric Daisy Carnival also has festivals planned for the coming months in Orlando, Puerto Rico, Dallas and Denver. That’s a lot of ker-ching for promoters Insomniac which has obviously caught the eye of Live Nation.
Per the Digital Music News’ report, Live Nation intend to compete agressively with the existing players rather than simply buy out an operator like Insomniac.
It’s good news for the artists and DJs and not just because competition will drive up fees. In order to get exclusitivity, Live Nation may well offer deals which could also cover record sales and other revenue streams. The signing-on fees may not be in the same league as those received by Jay-Z or Madonna when they signed their deals, but it’s still a sizable payday. All in all, a good time to be in the trance business Stateside.