(Fortune Magazine) -- As CEO of Live Nation, Michael Rapino is one of the few people in the music industry who has managed to grow revenue lately. He has done it the old-fashioned way, by domination; in this case, of the rock-concert business. Def Leppard, Genesis, Roger Waters, and the newly reunited Police are some of the bands the world's largest live-music company is taking on the road this summer. But Rapino isn't just focused on Grecian Formula rockers. He's cobbling together a chain of smaller clubs in cities like New York, Detroit, and Philadelphia named after the legendary Fillmore halls--venues to showcase up-and-coming acts like Britain's Lily Allen. Rapino recently discussed his strategy with Fortune's Devin Leonard.
What is Live Nation's hottest ticket this summer?
The Police tour is the global king right now. It's selling out stadiums and arenas around the world. It will probably end up being one of the biggest tours in history in terms of gross sales.
The Police broke up because of the ego battles between Andy Summers, Stewart Copeland, and Sting. How are they getting along now?
They're in rehearsals. Listen, I think the excitement of the ticket sales and being this big has been adrenaline beyond belief for all of them.
How about Def Leppard? Does it still have a rabid following?
Last summer our Def Leppard-Journey tour was one of the most attended amphitheater tours of the year. It blew us away. If you're in the record business, you're probably not selling a lot of Def Leppard CDs anymore. But in our business, there are a lot of mature bands that are great for us.
Does the graying of your biggest touring acts--the Rolling Stones, U2, and Madonna--concern you?
Our business is diversified. We do a big business with our midsized-venue model. We don't need bands to be on the top-ten charts to make money. To be the music company of the future, you have to figure out a way to be a great business and distribution partner of younger bands, midsized bands, and ones that break out, like Arcade Fire.
Did you get any backlash when Live Nation renamed Irving Plaza, one of the city's best small rock clubs, the Fillmore New York?
It's been a hot topic. If I took a big check from Staples or Nokia and put its name on the club, I would have been beaten up for selling out. Instead, I don't take a big check and try to build a consistent brand around this business. You can't win.
You recently bought the House of Blues chain too. Any plans to put more rock-themed dishes on the menu? How about AC/DC Highway to Hell Chili?
Good idea. [Laughs.] But they've done such a good job at the House of Blues, from the menu to the way they present the music. House of Blues has soul right down to the chef in the kitchen. 
