Live Nation Australia has struck an “official partnership” with the National Australia Bank, one of the country’s "big four" financial institutions.
Through the multi-year arrangement, announced Wednesday, NAB Group customers will be rewarded with a range of benefits from the live music giant, from exclusive access to concert ticketing, VIP packages, specialized content and so-called “money can’t buy” experiences.
“Live Nation continues to offer brands an innovative sponsorship property to develop a deeper level of customer and staff engagement,” comments Michael Coppel, president and CEO of Live Nation Australia and New Zealand. “Being able to tailor our benefits to suit an organization the size of NAB has validated the scale we can provide. We have admired their long-term partnerships with the likes of the AFL (Australian Football League) and how they have developed over time to include various grass roots programs that have assisted the league to grow and broaden its reach.”
The partnership marks NAB’s first foray into music, notes the organization’s acting chief marketing officer Michael Nearhos. “We’re continually looking for ways we can show our customers how much we value and appreciate them -- live entertainment is the ideal platform for us to do so,” he comments in a statement.
The alliance brings together two giants in their respective fields. NAB last month reported a A$1.75 billion ($1.25 billion) third-quarter profit and it has the reputation as the country’s biggest lender to small and medium businesses. Live Nation Australia -- one of the market's "big four" concert promoters" -- has upcoming tours by Madonna, Fleetwood Mac, Maroon 5 and Black Sabbath on the slate. In the quarter ended June 30, the live powerhouse's parent reported revenue growth of 12 percent to $1.86 billion at constant currency and operating income declined 13 percent to $48.4 million.
NAB will be expected to work with Live Nation on various campaigns Down Under and the bank becomes an official brand partner, joining LN's existing Australasian brand partners Qantas, Europcar, NSW Health, Spark (NZ), American Express, and Hilton Hotels and Resorts.