MUMBAI: Live Nation Entertainment Inc and Universal Music Group (UMG) has signed an agreement to launch concerts promotions and artiste management company.
The venture will aim at managing and strengthening artists and their brands through a variety of worldwide sponsorships, strategic marketing campaigns and brand extension opportunities.
The partnership will be managed by Front Line which will focus on developing direct-to-consumer bundling initiatives for selected UMG artistes in key markets around the world. The ticketing and bundling products of the artistes will be handled by Live Nation Entertainment’s Ticketmaster division.
Live Nation Entertainment president and CEO Michael Rapino said, “We are thrilled with the opportunity to partner with Universal Music Group’s incredible roster of global superstars and emerging artists. Ticketmaster’s digital distribution platforms will further support artist development by reaching millions of fans worldwide.”
UMG chairman and CEO Lucian Grainge said, “Together with Irving and Michael, we are creating a series of new platforms and global direct-to-consumer initiatives that will further expand the presence of our artists in this evolving marketplace while providing music fans with even more flexibility in how they consume music.”
Live Nation Entertainment executive chairman and Front Line Management Group CEO Irving Azoff said, “We see tremendous opportunities to work together to create a broad range of products built on the power of music and the direct connection between artists and fans. We look forward to working closely with Lucian Grainge and the talented UMG team in this new and exciting chapter of the music industry.”