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“Live Nation’s mission is to maximize the live concert experience. Our core business is producing, marketing and selling live concerts for artists via our global concert pipe. .. Live Nation is transforming the concert business by expanding its concert platform into ticketing and building the industry’s first artist-to-fan vertically integrated concert platform. “[1] Live Nation effectively uses social networking, and internet based advertising as the main portion of its marketing strategy, which mainly targets tech-savvy adults who frequently shop online.
In making fans feel more connected to their favorite musicians on a day-to-day basis, and making concerts more available and easily accessible, Live Nation has successfully become a top outlet for ticket sales and concert planning in the last three years. In merging with Ticketmaster, the partnership sells more than 50 million concert tickets and produces over 22,000 concerts annually through Livenation. com. [2] The company’s website also makes music and merchandise available to fans, in addition to concert ticket purchasing.
In making both available on one website, Live Nation is increasing its revenue. Fans that are shopping for tickets (or for merchandise) are more likely to purchase additional items if they are available on the same website and listed together. As a result of effectively monitoring this consumer spending trend, Live Nation now also bundles merchandise with tickets for an additional fee with various musicians (which in turn, also expands their product market). Live Nation is also a customer service driven organization.
One of the website’s main marketing avenues is “artist powered, fan driven”, which emphasizes it’s core desire to ensure consumers receive exceptional customer service, and an easy to understand buying process. Live Nation strives to ensure its target market thinks of their website synonymously with music entertainment. Statistically, companies that use customer service based management and marketing strategies have annually exceeded sales expectations, and heavily rely on repeat customers, and word of mouth referrals for these goals.
Live Nation also encourages consumer feedback and suggestions as a way to improve their services, and to give the company direction in what consumers want from an entertainment provider. Live Nation heavily uses Facebook, Twitter, and MySpace as a marketing strategy. In updating their various profiles and pages frequently, and paying for banner and ad space, Live Nation uses repetition to ensure their target market associates the brand name with entertainment, as well as a merchandise and ticket purchasing outlet.
Live Nation’s target market statistically uses social networking daily to several times a day, and expect to access information easily and often via these avenues. The company’s website also encourages “new and upcoming artists” to submit their music to their “In-House Artist Project”. Front Line, Live Nation’s artist management company supports and markets local musicians on a potentially global level via this project. [3]
Live Nation currently plans to expand even further, by partnering with more concert venues, both domestically and internationally. In continuing their customer service driven marketing strategy, and following their mission statement, expansion will increase concert availability, and in turn, increase ticket and merchandise sales. ———————– [1]Live Nation Mission Statement, found on the company’s website [2]Sales Statistics, found on the company’s website [3]Information found on Live Nation’s social networking summary