Friday, September 23, 2011

Universal Music Joins Forces With Live Nation To Form World's Largest Management Co.

Live Nation Entertainment, Inc. (NYSE: LYV), and Universal Music Group (UMG), today, announced the formation of a broad-based strategic partnership.Live Nation Entertainment’s Front Line Management Group division, one of the world’s top artist managementcompanies, and UMG will launch a joint venture management company aimed at managing andstrengthening artists and their brands through a variety of worldwide sponsorships, strategic marketingcampaigns and brand extension opportunities.The partnership will be managed by Front Line and will focus on developing direct-to-consumer bundling initiatives for select UMG artists in key markets aroundthe world that bring together concert tickets and a variety of music products with artist websites. Inaddition, ticketing and bundling products will be handled by Live Nation Entertainment’s Ticketmasterdivision, the global event ticketing leader and one of the top-five eCommerce companies in the world.
Irving Azoff, Executive Chairman of Live Nation Entertainment and Chairman and CEO of Front LineManagement Group, commented: “This is an unprecedented partnership that unites the world’s top musicartists with the world’s leading artist management, live entertainment, event ticketing and sponsorshipresources to drive innovation across our industry. We see tremendous opportunities to work together tocreate a broad range of products built on the power of music and the direct connection between artists andfans. We look forward to working closely with Lucian Grainge and the talented UMG team in this newand exciting chapter of the music industry.”
“We are thrilled with the opportunity to partner with Universal Music Group’s incredible roster of globalsuperstars and emerging artists,” said Michael Rapino, President and CEO of Live Nation Entertainment.“Ticketmaster’s digital distribution platforms will further support artist development by reaching millionsof fans worldwide.”
“Together with Irving and Michael, we are creating a series of new platforms and global direct-to-consumerinitiatives that will further expand the presence of our artists in this evolving marketplace whileproviding music fans with even more flexibility in how they consume music,” commented LucianGrainge, Chairman and CEO of UMG. “Our artists and their music are at the heart of everything that wedo, and by leveraging our combined skills, strengths and global reach with that of Live NationEntertainment, our management companies, artists and their fans will benefit immeasurably.”
Founded in 2004, Front Line Management Group artist management company, hasover 250 clients and more than 90 executive managers. Front Line and its affiliates represent a widerange of major artists and entertainment brands, including the Eagles, Jimmy Buffett, Neil Diamond,Christina Aguilera, Kenny Chesney, Fleetwood Mac, Journey, and The New Kids on The Block.
UMG’s artist management companies include Trinifold, Twenty First Artists (TFA), 5B and Sanctuary,whose artists include the contestants from TV-ratings topper The Voice (NBC), The Who, Roger Daltrey,Robert Plant, Mick Fleetwood, ZZ Top, Tommy Lee, Judas Priest, Pete Townshend, Slipknot and StonesSour, among many others. While each of UMG’s divisions will remain independently run under theircurrent management, which includes prominent managers Carl Stubner (Sanctuary), Bill Curbishley andRobert Rosenberg (Trinifold), Cory Brennan and Bob Johnsen (5B) and Colin Lester (Twenty FirstArtists), they will work closely with Front Line to expand their respective rosters of artists and managers.
LOS ANGELES, CA (CelebrityAccess MediaWire) -- 

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