GrouponLive: Groupon and Live Nation partner in discount concert ticket site
Groupon and LiveNation rolled out GrouponLive on Monday, a new discount concert ticket website that is set to officially launch this summer.
The site is a joint venture between the two companies and will operate in the same way as already existing Groupon sites -- by offering discounts tied to a local area.
GrouponLive will sell tickets to Live Nation concerts, as well as for companies that sell tickets for concerts, sports, plays and other events through the Live Nation-owned Ticketmaster.
Times reporter Joe Flint, on our sister blog Company Town, reported the news of the teaming Monday morning:
The venture is yet another acknowledgement by Live Nation of the challenges facing the concert industry. Ticket sales have been struggling, and by partnering with Groupon, Live Nation will have another outlet to reach consumers. People generally use Groupon to find deals on tickets and restaurants.
Financial terms of the deal were not disclosed. Live Nation, based in Los Angeles, produces more than 20,000 shows a year for more than 2,000 artists. The company says it reaches about 200 million consumers a year through marketing related to its ventures.
Groupon, based in Chicago, offers its localized daily deals online in more than 500 markets worldwide.
The two companies said in a statement that Guy Oseary, an artist manager and event promoter who sits on Groupon's advisory board, was "instrumental in helping develop the partnership."
-- Nathan Olivarez-Giles