The Committee therefore recommends that the CMA launch a market investigation into the UK live music industry by the end of 2026 and sooner if possible. The investigation should: • look at the market as a whole, considering all aspects of the UK live music industry, across the entire supply chain; 21 • obtain the required data to determine the extent of the market share of each of the vertically integrated companies; • determine whether there is dominance at play in the live music market or harmful vertical integration and whether this is leading to abuse of market position and anti-competitive practices; and • pay special attention to the position and behaviour of Live Nation in the market. • We trust that the evidence already received from stakeholders and the contents of this report will serve as the evidence needed to open such a market investigation. (Recommendation, Paragraph 31)