Video Case

Live Nation

Live Nation may not be a household name. But if you've been to a U.S. concert in the past few years, chances are you've purchased a Live Nation product. In fact, Live Nation has been America's largest concert promoter for many years, promoting as many as 29,000 events annually. But through very savvy strategic planning. Live Nation is shaking up the structure of the music industry.

A recent $120 million deal with the pop-star Madonna illustrates how this concert promoter is diving into other businesses as well. Under this deal. Live Nation will become Madonna's record label, concert promoter, ticket vendor, and merchandise agent. Similar deals have been reached with other performers such as Jay-Z and U2.

But contracting with artists is only part of the picture. Live Nation is partnering with other corporations as well. A venture with Citi will expand its reach to potential customers through a leveraging of database technologies. Joining forces with ticket reseller powerhouses such as StubHub will give Live Nation a position in the thriving business of secondary ticket sales.

After viewing the video featuring Live Nation, answer the following questions about the role of strategic planning:

1. What is Live Nation's mission?

2. Based on the product/market expansion grid, provide support for the strategy that Live Nation is pursuing.

3. How does Live Nation's strategy provide better value for customers?

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Responses

  • ABRAHAM MEDHANIE
    How does Live Nation’s strategy provide better value for customers?
    6 years ago
  • semret
    What product/market expansion grid does stubhub use?
    6 years ago

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