Live Nation increases market domination of the festival sector

Here is a fascinating example of a firm developing increasing market dominance, with the market share of the vertically-integrated Live Nation in the market for music festivals causing concern among some in the sector. The report says that "Live Nation (owner of Ticketmaster) had a 26% share of the market for events with a capacity of more than 5,000 people, compared to its nearest competitor, Global, with 8%." Is competition being held back to the detriment of festival-goers?

Festivals are big business, Live Nation's revenue in the last financial year was nearly $8 billion dollars but this has grown to over $10 billion in 2017 as a whole. Here are their latest figures.