You probably saw this – but I find this rich. On page 17 of Live Nation’s investor presentation, they present their vision of a "new model"
3 months from an artist posting a song online to selling out arenas. huh? even the major labels don’t expect something to take off that fast. is this a company that understands artist development? or is trying to sell a story to wall street? actually, it’s both – but when forced to choose between one or the other it’s clear where they are coming down.
This slide must be seen to be believed (or disbelieved, as the case may be!)
Click on the link, wait for the PDF to download and click on slide 17, where you will see that the "Old Model" is 2-5 years from writing a song to selling out an arena. And now, under the "New Model", it takes THREE MONTHS!
Who do we fire first? Rapino or Garner? I’m not sure if this is an SEC violation, outright lying to the investor public, but not only is it a gross distortion of reality, it’s evidence that neither executive is into either artist development or CORPORATE DEVELOPMENT!
Anyone who lived through the MTV era of the eighties and nineties knows that instant success is followed by instant decline. Therefore, forcing purveyors to constantly reinvent the wheel. That’s what’s wrong in the movie business, that’s why they emulated the music business and went into sequels. Yup, that’s what a career in music used to be, endless sequels! Now it’s one hit wonders, which is why the labels are screwed.
But it’s worse. Almost no one has a hit that can deliver sold out arenas.
Look at Rihanna, who canceled shows… Didn’t she have enough hits? She can’t sell out arenas.
Justin Bieber can sell out arenas today, but Mel Gibson is the biggest story online this week…and soon, after kicking the carcass, no one will want anything to do with the actor.
Come on. Talk about spin. This verges on outright lies. And is bad for both music and Live Nation. This is how we got INTO this mess.
No wonder the stock went down by double digits during this inane PowerPoint presentation.