U2 and Live Nation Agree to 12 Year Deal
According to sources, U2 and Live Nation have agreed to a 12 year deal that not only includes handling touring, but merchandising, digital and branding rights as well. This comes just a short 5 months after they (LN) penned the deal with Madonna. Looks like Live Nation is wooing the biggest players / artists in the biz away from the alerady struggling record lables. Apparently though, UMG will still continue with the recording and publishing side of things.
iTunes, Rhapsody, MySpace might want to consider jumping into the tour production game as that seems to be where the industry is going. Live Nation's recent moves of diversifying their products and services is very timely considering all the recent lay-offs and cut backs. Imagine if they were to bundle downloads and distribute music to the fans buying tickets, maybe some exclusive ticket / download packages (similar to what ticketmaster as recently offered with some artists) what kind of increased margins that could bring.
All that being considered, as the 4 majors try to figure out how to develop a new business model that will be profitable in the new digital age of music delivery, the tours have not changed. People still have to buy a ticket, go to the show, and buy their t-shirt to prove to their friends they were there.
The Vertigo tour was the 2nd-highest grossing tour ever at $389M, so very smart moves by Live Nation. Don't be surprised if they are the ones who develop the new model for the music business.
Phone calls to Live Nation and U2 were not immediately returned.
iTunes, Rhapsody, MySpace might want to consider jumping into the tour production game as that seems to be where the industry is going. Live Nation's recent moves of diversifying their products and services is very timely considering all the recent lay-offs and cut backs. Imagine if they were to bundle downloads and distribute music to the fans buying tickets, maybe some exclusive ticket / download packages (similar to what ticketmaster as recently offered with some artists) what kind of increased margins that could bring.
All that being considered, as the 4 majors try to figure out how to develop a new business model that will be profitable in the new digital age of music delivery, the tours have not changed. People still have to buy a ticket, go to the show, and buy their t-shirt to prove to their friends they were there.
The Vertigo tour was the 2nd-highest grossing tour ever at $389M, so very smart moves by Live Nation. Don't be surprised if they are the ones who develop the new model for the music business.
Phone calls to Live Nation and U2 were not immediately returned.
Erik! Its Tiff w/ DRH- I actually work full time for Live Nation
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