After a year of mass discounting, some of it maligned as a reactive strategy that devalued the live music experience, Live Nation will come at discounting from a different angle this year with a partnership with Groupon to develop an online ticketing deal channel GrouponLive.
GrouponLive will serve as a local resource for Live Nation events and clients of its global ticketing business, Ticketmaster. The site will serve as a resource for consumers to find tickets to concerts, sports, theater, arts and other live events, while helping the promoter to move inventory in an industry where an estimated 40% of seats go unsold.
Financial terms of the deal were not disclosed. Launch is planned in time for the summer concert season.
"With unprecedented access to Live Nation's expansive roster of performers and events, GrouponLive will be the destination for exclusive live event deals," Andrew Mason, founder and CEO, Groupon, said in a statement. "We're excited to work with Live Nation to further deliver on our commitment to offer amazing local experiences to our subscribers."
"GrouponLive represents a new channel to drive value for fans, while helping artists and others to reach ever larger audiences," added Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. "By adding this channel to our ticketing platform, we will also provide our venue partners with another option for driving ticket sales across a wide range of events. Our success is based on selling tickets and filling seats and GrouponLive gives us another platform to achieve this."
In the announcement of the deal, both Groupon and Live Nation thanked Madonna manager Guy Oseary, who they say advised on the deal and was instrumental in helping develop the partnership. Oseary is on Groupon's Advisory Board, and has worked with Live Nation on record-setting Madonna tours.
Users of GrouponLive will have access to limited-time deals on a variety of events across North America. The site will update offers as new events become available. To be notified when GrouponLive launches, visit www.grouponlive.com.