Live Nation and Yahoo will live-stream 365 concerts in 12 months.
The partnership could be what Live Nation CEO Michael Rapino needed when he asked the question in relating to live-streaming the company’s 60,000 concerts a year – “how can we do this at scale, and efficiently?”
Yahoo seems to have the scalable solution to Michael Rapino question; with its 800 million monthly unique visitors which are 1 billion+ when you factor in Yahoo/Tumblr users along with vast abilities to customize and target audience’s use experiences on any screen through digital magazines.
The Live Concert streaming series, which began with the Dave Matthews Band in mid-July, offers free, high-quality concert footage in a way that helps the companies providing it, since selling ads is more profitable than concert promotion.
In addition to live-streaming concerts, the channel will feature an on-demand catalog of songs on video, as well as behind-the-scenes footage and artist interviews
It’s the advertising pitch to sponsors that will help create the efficiency solutions, helping reduce/underwrite the large costs of streaming a live concert every day for a whole year.
Kellogg jumped on board and was announced as the program’s first sponsor, they are expected to be involved for a 12 month sponsorship commitment. Advertising/media executives familiar with Live Nation’s initial sponsorship sales packages say the company is requiring upfront commitments in the mid-to-high seven figures.
With this partnership with Yahoo, Live Nation has officially jumped in the “upfront” advertising marketplace alongside YouTube, Vevo, Vice and other music-adjacent players competing for a piece of the “upfront” advertising pie, valued at some $20 billion on top-tier sponsorships for high profile broadcast television, cable and live events.