Live Nation spent US $15.9m on acquiring majority stakes in two music companies in the first three months of this year.
One was Swedish dance music promoter Stureplansgruppen Live (SPG Live), which it bought in March.
SPG operates one of the most popular festivals in the Nordic Region – Summerburst Festival in Stockholm and Gothenburg.
The other company on Live Nation’s Q1 shopping list, though, is more of a mystery.
All we know is that the rest of the cash was spent on the acquisition of a controlling stake in an artist management business located in the US.
We also know that this company is now part of Live Nation’s Artist Nation division, which invests in management companies and puts infrastructure around them.
Sources close to Live Nation suggest the mystery stake was actually bought in a business within which Live Nation already owned some equity.
From there, however, we have something of a needle in a haystack situation.
According to Live Nation’s latest full-year financial report, below are all the companies that the entertainment giant considers subsidiaries – with many, many management firms amongst them.
No wonder some regard LN as the most powerful business in music…
Music Business Worldwide