Music Festival Monopoly: Will Live Nation Ruin the Diversity of EDM festivals?
Live Nation is one of the largest live event companies in the world, responsible for events throughout 114 major venues in the United States. Recently, word has come out that they are in talks to purchase a majority stake in C3 Presents, a large portion of HARD Presents, and have already purchased a 50% stake in Insomniac Events. For those who don’t know, C3 is the company responsible for events such as Lollapalooza USA, Austin City Limits Music Festival, and more. Insomniac Events is responsible for Electric Daisy Carnival, Beyond Wonderland, and many others. Hard Nation is also responsible for events such as Hard Summer, one of the largest festivals in California.
Given that C3 Presents, Insomniac Events, and HARD presents have so much power, will it be detrimental to their individuality if they are majority owned by Live Nation? This is one of the greatest worries right now, and one of the shortcomings of the EDM world and music world as a whole. At what point do companies draw the line to uphold their quality and individuality, instead watering themselves down for capital gains?
Although it looks as if the deals with C3 Presents and HARD Presents will go through, hopefully Live Nation doesn’t alter the structure of its newly found subsidiary branches. Companies such as Insomniac, C3 Presents, and HARD Presents have built up a strong reputation for unique approaches to hosting a festival, and it would be a true shame and a major blow to the EDM world if Live Nation were to alter them in any way. Hopefully, as the CEO of Insomniac Events has said, it will be a “Creative Partnership,” and lead to improvement throughout the field.