Battle of the Titans: The effects of AEG Live and Live Nation monopolizing the music festival industry.

Abstract

The supremacy battle between Live Nation and AEG Live has had a far reaching impact on the music festival industry, fans, music festivals, and artists. In the last decade, the music festival industry has experienced unprecedented levels of industry consolidation. The two companies have been acquiring music festivals at an extraordinary rate. By acquiring every potential rival music festival, Live Nation and AEG Live seek to become the same as the industry they serve. The acquisition of music festivals is beginning to create homogeneity in the industry. Already, fans are getting the same lineup of artists in different venues because of the rivalry between the two largest companies. The rivalry between the two companies continues to suppress competition in the industry. Independent music promoters are finding it more difficult to book and promote live events. Both companies have also focused on vertical integration in order to enhance their market position in the industry. There is no doubt that Live Nation and AEG Live have become the gatekeepers of the music festival industry. Artists cannot perform in the large music festivals without dealing with either of the two companies, either directly or through their many subsidiaries.