Live Nation is a huge worldwide concert, touring and merchandising giant.They have changed the way the concert and merchandising industry thrives within the music industry.With the change in music lovers’ buying behavior, Live Nation has attempted to change the business model and redirect where profit comes in.As of now, the public is still waiting to experience the viability and profitability of this model.
Live Nation has been in and out of entertainment news for a few years now. Just this weekend, news reports claim that Live Nation Canada has been sued for an accident at a Radiohead concert last year.According to Rolling Stone, The Ontario Ministry of Labor brought up a suit against Live Nation Canada for a stage collapse that occurred last summer in Ontario.Several charges were brought up against the concert promoter, while the remaining charges were brought up against the staging company responsible for building the stage for the event.Radiohead’s drum technician died in the collapse, while several others where injured.According to the Hollywood Reporter, Live Nation fervently denies responsibility, for they claim they did their best to ensure safety at the event.A company as big as Live Nation invests heavily in special event and liability insurance for situations just like this.Resource Nation states that most businesses are sued by third parties, and every business should have liability insurance.Liability insurance should be supplemented with special event insurance, because special event insurance covers more situations, like a fire, mob, or stage collapse.Even if someone commits a DUI after a special event, the sponsoring business can be held liable for that individual’s actions.It may seem extreme to blame Live Nation for most of the stage collapse, but the reality is, a company like Live Nation is well prepared to pay the fines associated with such a catastrophic occurrence.
Image Sources: Live Nation Logo Stage Collapse
