Live Nation Entertainment and online deal service Groupon have announced a new joint venture, GrouponLive, which will supply discounted tickets for live events on a local basis.
Financial terms of the arrangement were not disclosed.
The newly created entity will attempt to boost ticketing volume with a Web-based resource for what the companies term “high-value tickets” to concert, sporting, theater and arts events. Launch of the service is plotted for the summer concert season.
Michael Rapino, prexy and CEO of Live Nation, said in a statement, “GrouponLive represents a new channel to drive value for fans, while helping artists and others to reach ever larger audiences. 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.”
Manager-promoter Guy Oseary, formerly a top exec at Madonna’s Maverick Records, is credited with advising on the deal.