Concert promoter Live Nation announced the addition of acclaimed Irish rock band U2 to its artist roster. The company gained attention last year with a 360-degree, $120 million Madonna acquisition, but the U2 agreement is less extensive and will not alter the band’s relationship with Universal Music for recording and publishing. Touring, merchandising and the band’s Website are just a few of the revenue streams Live Nation will be jumping into.
Concert promoter Live Nation announced the addition of acclaimed Irish rock band U2 to its artist roster. The company gained attention last year with a 360-degree, $120 million Madonna acquisition, but the U2 agreement is less extensive and will not alter the band’s relationship with Universal Music for recording and publishing. Touring, merchandising and the band’s Website are just a few of the revenue streams Live Nation will be jumping into.
The deal comes at no surprise, as U2 has already been working with Live Nation for years, and the band has the ability to pack massive venues. “We’ve been dating for over 20 years now, it’s about time we tied the knot,” joked frontman Bono. “We want a closer, more direct relationship between the band and its audience, and Live Nation has pledged to help us with that.”
The company is beefing up its roster with superstar acts, most likely in preparation to compete on the ticketing side with Ticketmaster.