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Live Nation
Living Large – The Case of Live Nation
Executive Summary After the spun-off from the radio giant Clear Channel Communications in 2005, Live Nation, the world’s largest events and live music promoter is now preparing itself to go even bigger. Led by CEO Michael Rapino, Live Nation is revolutionizing the music industry from a concert business to a one-stop shop that would make every fan and artists musical ends meet. Live Nation’s arising strategy is to connect the artists to the fans in every aspect possible by going after the music star’s themselves rather than just their live music. In October 2007, Rapino signed a first-of-its-kind deal with Madonna and still has not shown signs of slowing down as it signed with other music stars and hopes to even add more.
Problem Statement A. Short Term
How to meet and connect the existing musical needs of the fans and the music stars? B. Long-Term
How will Live Nation gain Competitive Advantage over competitor, increase fans and music stars satisfaction and loyalty, and add value to the business in the long run?
Key Success Factors 1. Good planning and strategic management 2. Ability to respond to change and trends in the environment 3. Establishing strong connection/communication between the company, the fans and the artists 4. Proper application of …show more content…
In the short run, Live Nation must first understand it’s operations whether it is operating effectively or not. In order to meet the current musical needs of the fans and the artists, the company must strengthen its current operations and exploit any untapped resources they have. The best strategy would be to maintain stability of the business and not make any major actions that could lead them to failure. In the meantime, Live Nation must understand the changes that are happening in the music industry and look for trends which they can use to base their long-term
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