Groupon and Live Nation Entertainment, Inc. announced today that they have partnered up for an online ticketing deals channel.
It shall be known as: GrouponLive.
GrouponLive will act as a local resource for Live Nation events and clients of its global ticketing business, Ticketmaster. The new site will be an innovative resource for consumers to locate high-value tickets to concerts, sports, theater, arts and other live events, while acting as a an effective way for sellers to sell more tickets.
The financial terms of the deal were not released. GrouponLive’s launch is scheduled 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," said Andrew Mason, founder and CEO, Groupon. "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," said 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."
The users of GrouponLive will be able to access limited-time deals on an assortment of events across North America. The site will update its offers as new events become available. To be notified when GrouponLive launches, visit www.grouponlive.com.
It sounds like a good deal for both companies involved, but what does it mean for concert goers in North America? Will it really lead to more affordable tickets, or is it just a way for Live Nation and Ticketmaster to get their hands on more money via selling fees and the like?
We won’t know until summer, and even then it will take a while to gauge how this endeavor impacts the concert industry.