Daily deals provider Groupon has partnered with entertainment and ticketing company Live Nation to launch GrouponLive, a deals platform dedicated to concerts, sports matches, theatrical performances, and other live events.
The product will essentially offer Live Nation’s companies – including online ticketing service Ticketmaster – the opportunity to market unsold inventory at a reduced price to consumers following its failure to sell through other channels. “Our success is based on selling tickets and filling seats and GrouponLive gives us another platform to achieve this,” Live Nation CEO Michael Rapino commented in a press release.
Groupon has offered event deals previously through its existing platform, but hopes the partnership will help accelerate its activity in the area. “When you look at the practicalities of the marketplace, it makes sense to partner with people with expertise in the space, and direct access to phenomenal amounts of inventory,” Greg Rudin, general manager of GrouponLive told ClickZ, in reference to its choice to launch with a partner rather than to build out its own product from scratch.
According to Rudin, Live Nation’s sales staff will work closely with Groupon’s to identify and execute deals on behalf of its merchant clients, with both companies marketing those offers to their existing users and subscriber databases.
GrouponLive will also pitch to prospective customers – venues and promoters, mainly – without an existing relationship with Live Nation, Rudin said, with its sales teams pursuing those deals independently. Financial details of the partnership were not disclosed, but that fact implies Live Nation will only receive a share of the revenue generated by the inventory it brings to the table itself.
Ruding insisted that the pair is invested in building a product together, however, and that it isn’t simply intended as a vehicle to clear unsold inventory. Groupon has seen increasing demand from its existing user base for tickets and live events, he suggested.
“We’ll make sure we’ve got some really compelling shows as well as those with a more niche audience,” he said, adding, “it won’t be unusual to see a deal three days before an event, but it could also be 21 days prior.”
GrouponLive will officially launch prior to the summer concert season, the companies said. Users can register to the service now, however, at GrouponLive.com.
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