Belgium’s competition watchdog has launched an investigation into Live Nation Entertainment’s recent acquisition of the country’s Pukkelpop, an annual music festival near the city of Hasselt.
Last month, the ticketing giant and Pukkelpop announced an extension of their “collaboration of more than 40 years.”
Live Nation becomes Pukkelpop’s parent company under the terms of the deal. The festival will remain under the leadership of founder and CEO Chokri Mahassine, alongside co-founders Marie Peremans, Patrick Breugelmans and Christiane Sluyter.
The companies said: “Live Nation will become the ultimate parent company, supporting the festival’s leadership and team to ensure its further development in the years ahead.”
However, the Belgian Competition Authority said in a notice on November 12 that it was directed by the Minister for Economic Affairs to open the probe.
The investigation will assess how the takeover might affect competition in festival organization and the broader live entertainment sector, given Live Nation’s extensive operations across the industry.
“Live Nation is a global leader in live entertainment, active in Belgium across the entire value chain for the organization of large-scale music events, as well as a worldwide artist management company.”
Belgian Competition Authority
The competition watchdog wrote: “Live Nation is a global leader in live entertainment, active in Belgium across the entire value chain for the organization of large-scale music events, as well as a worldwide artist management company.”
It noted that Live Nation already provides artist booking services and organizes three of Belgium’s largest festivals: Rock Werchter, Dour and Graspop.
The company also manages large concert venues such as AFAS Dome, Trixxo Arena, Forest National, Lotto Arena and Capitole Gent, and operates ticket sales via Ticketmaster, the regulator said.
Pukkelpop ranks among Belgium’s five largest music festivals. Held annually in August in Kiewit, near Hasselt in Flanders, the event accommodates 250,000 visitors.
The regulator said: “The BCA’s investigation will focus, in particular, on assessing the likely effects of the takeover of Pukkelpop on competition in the organization of music festivals in Belgium, but also in the field of live entertainment in general, given Live Nation’s development as a broader ecosystem.”
“The BCA’s investigation will focus, in particular, on assessing the likely effects of the takeover of Pukkelpop on competition in the organization of music festivals in Belgium, but also in the field of live entertainment in general, given Live Nation’s development as a broader ecosystem.”
Belgian Competition Authority
The competition authority’s investigation will be conducted independently by its Prosecution and Investigation Service. The probe relies on competition rules that prohibit anti-competitive agreements and abuses of dominant market positions under Belgian and European Union law.
The regulator emphasized that opening an investigation does not indicate a predetermined outcome and that Live Nation will participate fully in the proceedings as they unfold.
Live Nation has built what regulators describe as a broad ecosystem in live entertainment, operating across the value chain from artist management to venue operation and ticket sales.
In the US, Live Nation is also facing an antitrust action from the Department of Justice, which launched a lawsuit against Live Nation and Ticketmaster in May 2024. That lawsuit alleges that the company engaged in “monopolization and other unlawful conduct that thwarts competition in markets across the live entertainment industry.”
Separately, the US Federal Trade Commission (FTC) has also sued Live Nation and Ticketmaster in September, accusing the company of profiting from scalpers operating on its platform.
Earlier this month, Live Nation published its results for the third quarter. The concert giant’s revenue climbed 11% YoY in Q3 2025 to $8.5 billion from $7.65 billion in Q3 2024. Operating income jumped 24% YoY to $792.5 million, while adjusted operating income (AOI) rose 14% to $1.03 billion in the three months ended September 30.
During the company’s earnings call, Live Nation President and CFO Joe Berchtold said: “We’re already on sale for next year for many shows and festivals of certain sizes, and they are selling as fast as ever. So the appetite, the consumption, going to that show still seems to be number one priority for them. And we’ve saw no pullback anywhere yet.”
Music Business Worldwide
