Early in the week we had this assignment as part of our Finance course in the Master’s program where we had to research a company through its financial history. Since I’m into the promoting industry I obviously chose to research Live Nation Entertainment, of which BTW I’m a huge fan.
For those who don’t know, LN operates in four main businesses within the entertainment industry including the most commonly known, live concert promoting. They provide artist management and artist services, ticketing services and solutions through Ticketmaster, which they also own, and venue management that is possible because of the several venues they also own. According to Yahoo Finance (2011), “as of December 31, 2009, the company owned, operated, or leased 85 entertainment venues and 47 other facilities, including office leases in North America; and 27 entertainment venues and 32 facilities internationally” (¶ 1).
Live Nation has grown so much that it even turned into a publicly traded company and I consider this to be a huge success for them especially for being a promoter. I mean, you don’t see every day many promoters turn into a publicly traded company generating an annual revenue in sales of $5,063,748 every. I also believe the fact that they have tried to own the entertainment industry as much as they have creating or buying the means necessary to make their business instead of outsourcing the services is also a big value for this company.
While doing this project it reminded me of Richard Branson and Virgin. I follow Richard through my Personal Learning Networks, he is truly one of my heroes, and I have done several researches on him and his company for this program. After studying them I found these two companies have something in common; they both live from the entertainment industry although operating in different segments and they both have aimed their goals very high and have been successful; they think big. And that is something I feel related with.
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