ABSTRACT
There was a time when most large cities had a concert promoter who presented concerts by touring acts. Some cities even had several concert promoters. When there were multiple promoters, they specialized in different musical genres. Over the years, however, national companies took over the local promoters or put them out of business by grabbing the top acts. Today, the two leading promoters are Live Nation, formerly a division of Clear Channel (a large radio network), and AEG (Anschutz Entertainment Group). Not only do these companies promote concerts, they also own venues. According to This Business of Promotion and Touring, in 2006, Live Nation owned, operated, or had booking rights to 153 venues throughout the world and produced over 28,000 events a year. The December 20, 2008, issue of Billboard reported that Live Nation produced 9,237 shows in 2008, producing nearly $2 billion in ticket sales. AEG reported 2,324 shows, with over $1 billion in grosses. The smaller groups, including C3 Presents, Nederlander, and Beaver generated $53, $39, and $30 million, respectively.
