News: Live Nation & Ticketmaster Reportedly Close To Merger
Wednesday, Feb 4, 2009 10:00AM
Live Nation and Ticketmaster are reportedly inching closer to a merger that will unite the mega music retail forces and bring together over 200 major artists including Jay-Z, Madonna, Miley Cyrus and others.
A proposed name and marketing strategies are being considered by analysts.
The combined company would be called Live Nation Ticketmaster, and would merge the world's biggest concert promoter with the world's dominant ticketing and artist-management company. The resulting firm would be able to manage everything from recorded music to ticket sales and tour sponsorship. It could package artists in new ways, for example, allowing corporations such as a cellphone provider to sponsor a concert tour and to sell an exclusive download of a song. (Wall Street Journal)
The merger would also place mega music acts under the same company.
If the deal goes ahead, the marriage of the world's biggest concert promoter and the leading ticketing and artist-management company will create a dominant force in the industry with ties to more than 200 artists such as the Eagles, Miley Cyrus, Christina Aguilera, Madonna and Jay-Z. A successful deal will also crown Live Nation's longstanding efforts to mold itself into a diversified conglomerate with businesses beyond concert promotion. (Reuters)
Live Nation recently launched its own ticketing company.
Live Nation Ticketing is live. The bulk of the world's largest promoter's 10-year contract with Ticketmaster has expired and the company has now launched its in-house ticketing company. CEO Michael Rapino said the company has already sold more than 177,000 tickets at 52 of its own venues and expects to sell more than 40% of total tickets at livenation.com in 2009 compared with just 11% last year. (Billboard)
Blockbuster is one of the latest mega retailers to have partnered with Live Nation.
Blockbuster Inc. has partnered with Live Nation to begin selling concert tickets at several of their locations. The three-year agreement will provide the rental franchise an additional outlet in roughly 500 stores by providing customers more reasons to visit the chain. (SOHH)
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