CASE STUDY – LIVE NATION
In today’s world where the number of brands and products (tangible or intangible) are growing in numbers and companies are ensuring rapid diversification, research and attempting a perfect blend of marketing and promotion, it has become a pre-requisite for any brand or product to maintain an edge over others if they have to survive competition and emerge as a “name” spoken of an remembered. One of such well known companies in the field of promotion of live events is “Live Nation”. A California based concerts promotion company which was formed in 2005 currently serves concerts worldwide and has been associated with many of the renowned international artists and bands like Madonna, Shakira, Jay-Z, U2 and owning and partnering many promotion and production companies and ticketing houses throughout a wide array of countries.
Facts used for analysing the strategy:
1. Live Nation started as a concert- promoter in the US in 2005 which operated in 117 venues, out of which 75 were in the US and 42 were international venues. Since 2007, Live nation had been signing in artists and bands like Madonna, Shakira, U2, Nickelback and Jay-Z on contracts that last from 10-15 years.
2. It is constructing a physical recording label with the “Live Nation Artists” thereby posing competition to the music industry giants like EMI, Sony Music, Universal Music Group and Warner Music Group
3. Live Nation has entered in to partnerships and mergers with many big music promoters and producers across US, UK, Netherlands, Spain, Finland, Denmark, Sweden and many other countries. Also acquired major companies owning music halls and restaurants, promoters of races and indoor motorsports.
4. 2009 merg...
... middle of paper ...
The path of growth for Live Nation had been steady and this has resulted from a well researched market and customer analysis. But the strategy of Live Nation does not define the goal it aims to reach and the path it intends to choose. “To connect the fans and the artists” being a very vague mission statement, there is wide prospect for growth and new angles of looking at the whole market and industry as such. This has proved that a well calculated decision and higher space for movement of thoughts in the decision making process can grow a company to a giant whose limitations on coverage, may it be products/services or geographical areas is not restricted. Live Nation has gone beyond the established theories and strategies of marketing and the future of the company seems to be in a market “which is not yet defined but ready to be defined”.
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