Live Nation Entertainment made $23 billion in 2024–not just by owning Ticketmaster but by having a hand in nearly every corner of the live music industry. From owning around 390 venues and having a controlling stake in festivals like Lollapalooza and Bonnaroo, to investing in ancillary businesses like Liquid Death and owning it owns management agency, Live Nation’s ‘flywheel’ business model has fueled the company’s rise.
WSJ examines how this business model allows it to operate in the four main areas of touring and how this same strategy could be its downfall after the DOJ sued the company over its dominance.
Chapters:
0:00 Live Nation’s rise
1:00 The live music economy, explained
2:47 Venues
4:57 Artists and promoters
6:20 Ticketing
9:17 What’s next?
The Economics Of
How do the world’s most successful companies generate revenue? In this explainer series, we’ll dive into the surprising stories behind how businesses work–exploring everything from Costco’s “treasure-hunt” model to the economics behind Amazon’s AWS.
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