Live Nation Entertainment and Universal Music Group form joint venture

Mumbai: Live Nation Entertainment’s Front Line Management Group division and UMG will launch a joint venture management company aimed at managing and strengthening artists and their brands through sponsorships, marketing campaigns and brand extension opportunities.

The partnership will be managed by Front Line and will focus on developing direct-to-consumer bundling initiatives for  UMG artists in markets around the world that bring together concert tickets and music products with artist websites. Ticketing and bundling products will be handled by Live Nation Entertainment’s Ticket master division.

"Together with Irving and Michael, we are creating a series of platforms and global direct-to-consumer initiatives that will expand the presence of our artists in this marketplace while providing music fans with  more flexibility in how they consume music," commented UMG Chairman and CEO Lucian Grainge. "By leveraging our skills, strengths and global reach with Live Nation Entertainment, our management companies, artists and their fans will benefit immeasurably."