Live Nation Entertainment is the biggest concert promoter in the world—and it was even before it merged with the monolithic Ticketmaster in 2010 or bought a controlling stake in C3 (the company behind Lollapalooza) in 2014. These days, according to the New York Times, Live Nation operates more than 200 venues globally and manages 500 musical acts (including U2 and Jay-Z), and last year it presented more than 30,000 shows and sold half a billion tickets. Now you can add to that portfolio a handful of future Chicago venues: this morning news broke that Live Nation had struck a deal with Sterling Bay to build and operate between three and five venues in the new “Lincoln Yards” redevelopment, on the north side between Lincoln Park and Wicker Park.
If Live Nation goes through with this, there’s reason to worry. According to a recent New York Times feature, the Justice Department is investigating Live Nation for alleged monopolistic behavior, including threats to pull shows from venues owned by competitors—its simultaneous control of venues, artists, and a huge portion of the ticketing marketplace gives it a frankly frightening amount of leverage. With more land and more places to sell more tickets for artists it works with exclusively, Live Nation could cause real trouble for larger indoor venues that aren’t controlled by the company but depend on occasionally being able to book shows with its artists. Even more alarming to many Chicagoans, this proposed development would dim the future prospects of one of the city’s most beloved venues, the Hideout—it’s smack in the middle of Sterling Bay’s gleaming new development. (I’ve called Hideout co-owner Tim Tuten and e-mailed talent buyer Sullivan Davis, and if they get back to me I’ll add their comments here.)
