Another Day, Another Content Partnership: Yahoo and Live Nation Announce Concert Streaming Partnership
On April 28, Live Nation and Yahoo announced a partnership where Yahoo will stream 1 concert per day over a 12 month period, starting later this summer, plus behind-the-scenes footage in the hours preceding and following the performances. In addition, Yahoo also plans to make “over 1200 of the best songs from the events” available for download. Considering that an estimated 380 million viewers worldwide watched live-streamed concerts in 2013, with the greatest increases coming in the EDM genre, it’s quickly becoming a lucrative venture. Major festivals are quickly jumping on this bandwagon as well, ranging from Bonnaroo to Coachella to Tomorrowland building live-streaming partnerships.
When Live Nation CEO Michael Rapino was considered what the most efficient way to live-stream, its concerns were about scale. Yahoo, who currently boasts 80o million monthly unique visitors, fit the bill. While Google is much farther ahead in online video (particularly after partnering with YouTube), Yahoo is actually growing at a much faster rate. “There have been a lot of attempts in the past to launch events online in more of a one-off or episode nature,” says Yahoo’s chief marketing officer Kathy Savitt. “This is the first time, at scale, where two behemoths are getting together and saying, ‘Live is the future, and we’re gonna create a daily habit for music fans.” (Billboard)
In terms of monetization, Yahoo and Live Nation are banking on corporate sponsorships to advertisers in order to bankroll the significant costs associated with the venture. The program’s first sponsor, Kellogg, was announced on Monday, while experts suggest that Live Nation is looking for up-front, full-year commitments from sponsors.
While no artists have been announced yet, Rapino is confident that it will range from emerging acts to established ones, covering a wide variety of genres from rock to country to EDM.
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