Mega concert promoter Live Nation will begin a new business venture soon with plans to start selling music online.
According to Wired, the company responsible for signing major acts like Jay-Z and Madonna along with creating their own ticketing service and record label is set to compete with major online MP3 retailer iTunes with their new project.
Live Nation is expected to sell unprotected MP3s from three of the four major record labels including Sony Music, Universal Music Group and EMI. The company will be able to draw consumers to a particular artist’s page via their own site, a feature iTunes has reportedly lacked upon.
Continuing to offer fans a more direct link to the artists, Live Nation will jump start the new venture through their MusicToday division known for managing popular rock clients likethe Rolling Stones, Grateful Dead and the Dave Matthews Band.
Once the plan goes through, the company will be able to provide fans with more in-depth artist pages likely to feature videos, blogs, comment sections and images.
Live Nation has yet to release a date for when they expect to begin their online music venture.
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