Live Nation is one of the world’s leading live entertainment companies. With operations in over 40 countries, Live Nation promotes, operates, and manages ticket sales for live events. The company was formed in 2005 as a spin-off from Clear Channel Communications. Live Nation’s mission statement is:
Live Nation’s Mission Statement
“To maximize the live concert experience and deliver the ultimate fan engagement.”
Live Nation’s mission statement emphasizes two key goals:
- Maximizing the live concert experience
- Delivering ultimate fan engagement
As a live entertainment company, Live Nation places the live concert experience front and center in its mission. Its goal is to create the best and most memorable concerts and events for fans. This includes booking top artists and acts, choosing first-rate venues, and utilizing state-of-the-art technology like lights, sound, and video.
The second part of the mission statement focuses on fan engagement. Live Nation aims to connect fans to concerts and artists in deeper and more impactful ways. This means creating interactive fan experiences, robust social media engagement, and unique promotions and contests. The ultimate fan experience goes beyond just attending a great concert to connecting with fellow fans and artists.
Core Values Supporting the Mission
In addition to its mission statement, Live Nation has four core values that support and reinforce its mission:
- We are FANS – We are passionate about live events and fan engagement
- We are innovators – We embrace innovation to advance the industry
- We are leaders – We are committed to leading the live entertainment industry
- We are partners – We build mutually beneficial partnerships
Live Nation’s core values reflect its dedication to fans, innovation, industry leadership, and partnerships. By upholding these values, the company can deliver on its mission of creating amazing live music experiences that fully engage fans.
Business Strategy Aligns with Mission
Live Nation has built its business strategy around achieving its mission statement. Here are some of the key elements of its strategy:
Aggressive Acquisition Strategy
Live Nation has acquired dozens of companies and regional concert promoters over the years. Major acquisitions include:
- Ticketmaster (2008) – Gave Live Nation control of ticketing
- House of Blues (2006) – Added chain of branded music venues
- Digitick (2011) – Expanded ticketing operations in France
- Hard Events (2012) – Gained leading electronic dance music promoter
These acquisitions have allowed Live Nation to expand its concert offerings, venues, ticketing operations, and geographic reach.
360 Deals with Artists
Live Nation pioneered the 360 deal concept with artists. In a 360 deal, the company provides comprehensive services to artists, including:
- Concert promotion
- Ticketing
- Merchandising
- Recorded music distribution
- Other services
In exchange, Live Nation takes a cut of all the artist’s revenue streams. 360 deals give Live Nation broad exposure to top artists and their fans.
Enhanced Concert Experience
To maximize the concert experience, Live Nation offers:
- Top-notch facilities like high-tech amphitheaters
- Premier luxury accommodations for select shows called “VIP Experience”
- High-quality sound, lighting, and video production
- Food, beverage, and merchandise sales at venues
- Paperless ticketing to reduce fraud
These efforts aim to make shows more memorable and interactive for concertgoers.
Robust Fan Analytics
Using detailed data on fans and their interests, Live Nation tailors promotions, seat offers, merchandise, and interactions to enhance engagement. Initiatives include:
- Customized emails and social media posts based on music preferences
- Targeted ads and recommendations for related shows and artists
- VIP ticket bundle offers
- Dynamic pricing to fill seats
By leveraging fan analytics, Live Nation delivers the ultimate fan experience.
Initiatives Fulfilling the Mission
Live Nation brings its mission statement to life through major initiatives like:
Live Nation Clubs and Theaters
Owning premier mid-size venues gives Live Nation control over the concert experience. Live Nation operates clubs and theaters including:
- House of Blues club chain
- Fillmore music venues
- Irving Plaza in New York
- The Wiltern in Los Angeles
Fans get closer access to artists at these intimate Live Nation venues.
Ticketmaster Verified Fan
This Ticketmaster technology aims to get more tickets directly into the hands of fans during presales. It requires fans to register ahead of presale for a chance to buy tickets. Benefits include:
- Reduces bots and scalpers buying up tickets
- Gives fan club members preferred access
- Lets artists customize presales for loyal fans
Verified Fan helps fans secure tickets and fights unfair scalping practices.
VIP Nation
This premium service offers exclusive perks like:
- Premier seats
- Backstage tours
- Meet-and-greets with artists
- Luxury atmosphere and amenities
Super fans get money-can’t-buy experiences through VIP Nation.
Live Nation Merchandise
The company’s merchandise division runs concert merch for many top artists. Operations include:
- Tour merchandising
- E-commerce fulfillment
- Pop-up shops
- Brand collaborations
Live Nation Merchandise deepens the connection between artists and fans.
Aligning the Organization Around the Mission
For employees to deliver on its mission, Live Nation strives to align the organization from the top down including:
- CEO Michael Rapino emphasizes the mission in communications
- Senior leaders exemplify core values
- Company meetings reinforce strategic priorities
- Performance metrics track fan satisfaction and engagement
- Employee recognition programs award outstanding work
- Staff training develops required skills and knowledge
This organizational alignment ensures everyone understands and supports the mission.
Partnerships to Enhance Experiences
Consistent with its core value of partnership, Live Nation works with other companies to improve events and increase fan engagement. Key partnerships include:
- Venue deals with major stadiums and arenas
- Sponsorships with brands like O2 and American Express
- Promotions with radio stations
- Co-promoted tours with AEG and other promoters
- Technology integrations with companies like Amazon Web Services and Salesforce
These mutually beneficial partnerships allow Live Nation to scale up capabilities, enter new markets, and reach more fans.
Promoting Diversity and Inclusion
To create better live events that engage all fans, Live Nation promotes diversity and inclusion through:
- Booking diverse artists that appeal to underserved audiences
- Partnerships with organizations like Hip Hop Public Health
- Initiatives to highlight women’s contributions to music
- Employee resource groups for communities like Black, Latinx, and LGBTQ employees
- Unconscious bias training for staff
- Grants for marginalized communities and live music businesses
By embracing diversity across artists, employees, and fans, Live Nation can deliver more relevant and inclusive events.
Ongoing Challenges and Criticisms
While Live Nation has executed well in many areas, it still faces criticisms including:
- High service fees anger some fans
- Aggressive ticket pricing and dynamic pricing are controversial
- Its dominance in live music and ticketing worries regulators and competitors
- Some artists chafe at far-reaching 360 deals
- VIP and platinum tickets anger fans locked out of front sections
Addressing these challenges while staying true to its mission remains an ongoing balancing act.
Conclusion
Ultimately, Live Nation’s mission statement provides strategic direction for the company. All its efforts in concert promotion, ticketing, artist relations, data analytics, fan experiences, and business partnerships aim to deliver the best live entertainment and fan engagement possible.
By acquiring key assets, innovating new capabilities, developing talent and technology, and collaborating with partners, Live Nation strives to make its mission statement a reality worldwide. Though challenges remain, the company continues working to improve the live event landscape for artists, fans, and the industry as a whole.