Live Nation Shifts 80% Of Marketing $$ To Online, But Not Sold On Spotify, Pandora Ads To Sell Concerts
[UPDATED] Live Nation and Ticketmaster have shifted 80% of its concert marketing dollars from traditional radio and press to online. But, perhaps in part because Pandora owns Ticketfly, they are not buying ads where people actually listen to music – Pandora and Spotify.
While streaming music service Pandora has made a big bet to push ticket sales for live events through its platform with the addition of Ticketfly, Live Nation CEO Michael Rapino isn't sold on the idea. In a recent interview, Rapino told CNBC's Julia Boorstin that Live Nation's focus was on driving sales through social media.
"It's been much more sharp-shooting, and we can go social, we can go where you are and where Rihanna is and drive conversion there. Much higher than you can on a Pandora or a radio station, which is a real shot that you're not going to really nail that Rihanna fan over that day," Rapino told CNBC.
Rapino also offered some insight into Live Nation's promotional efforts, noting that previously the company spent $3 million to $4 million on advertising for a concert, primarily on print, radio, and billboards, but that 80 percent of that has shifted over to online.
"We want to be where the customer is already active: Facebook being one of the best converters for us, as well as Instagram. If you've already liked Rihanna on Instagram and you're following her, we use that data feed," he added.
via Celebrity Access