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Live Nation, Vice Media Shutter Ad Video Unit, 12 Laid Off

LivenationLive Nation has pulled the plug on a company unit that produced video content for advertising.  According to the New York Post, sources said the division, a joint venture with Vice Media, had 12 employees, who have all lost their jobs.

tvThe source told The Post that the two year old division had trouble generating revenue. “They’re rethinking what it looks like, the content appears less video heavy,” one advertiser said.

However, Live Nation appears to still be interested in non-concert media content production and will continue with LNTV, a larger joint-venture with Vice that produces news and content focused on the live concert scene.

Other Live Nation video projects under development include its "On Stage" series for presentation on video streaming service Hulu, as well as "Music Happens Here," a video series developed in conjunction with Hilton Hotels, covering iconic music hotspots around the world that will be presented on music streaming service Spotify.

via Celebrity Access