Yahoo's claimed identity as a media company just got another boost in the world of music with a Live Nation deal. In July will debut a new channel featuring a daily live concert plus additional content for a multi-year run. Kellogg has already signed on for advertising and Live Nation's Michael Rapino expects the channel to be oversubscribed. The move also marks a more serious effort for Live Nation in the live streaming concert space.
WSJ.com is reporting that Yahoo and Live Nation have cut a deal to create a channel for daily livestreamed concerts. The new channel debuts in July and:
"will feature one live show a day for several years, plus behind-the-scenes footage and interviews in the hours preceding and following the performance, from the tour bus to the after party."
The channel will be ad-supported with Kellogg's already on board and will include ticket links for upcoming concerts by the acts being featured.
Live Nation CEO Michael Rapino says:
"We plan on making money on this channel, as does Yahoo; we know advertisers are going to be oversubscribed."
Rapino also pointed out that this is Live Nation's first serious effort in livestreaming beyond select experiments. He expects that finding acts will not be a problem. Shows will be shot by Live Nation and the full concerts will only be available live.
WSJ turned to iRocke for various stats about the growth of livestreamed music. They estimated that the worldwide audience for livestreamed concerts in 2013 grew 40% over 2012 with 380 million viewers.
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Hypebot Senior Contributor Clyde Smith (@fluxresearch) posts music crowdfunding news @CrowdfundingM. To suggest topics about music tech, DIY music biz or music marketing for Hypebot, contact: clyde(at)fluxresearch(dot)com.