This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Live Business
Is talk of the death of the US live sector exaggerated?
By CMU Editorial | Published on Monday 28 June 2010
Various business hacks and music biz bloggers in the US have recently noted the number of tour cancellations that have taken place this year, with some concluding that the bubble is finally about to burst on the recently booming live sector. Others have added that the big boys of the industry, most notably the now very large Live Nation Ticketmaster, could be the biggest losers of any live business slump.
But, as we’ve noted before, it’s felt like the over-priced mainstream-end of the US live industry was about to peak on numerous previous occasions, and it never has. And other commentators reckon that it ain’t gonna happen anytime soon either. Hits Daily Double last week noted that US research firm Thomas Weisel Partners is of the opinion there haven’t really been any more tour cancellations this year than normal, and that Live Nation is weathering the general economic downturn well, with its No-Service-Fee Wednesday promotion going down well.
Meanwhile, HDD also speculates that rumours that Live Nation has been suffering since its merger with Ticketmaster, and that there are tensions between the two merging companies’ top men Michael Rapino and Irving Azoff, who now share the top jobs at the merged firm, are actually being put around by their rivals AEG, and in particular the CEO of its AEG Live division Randy Phillips. HDD say Live Nation insiders have told them Rapino and Azoff are actually “joined at the hip”, are working very well together, and are both very optimistic about the near future for their live music megafirm.
