Live Nation Acquires Majority Stake in Musictoday

Authored by Mark Hefflinger on July 31, 2006 - 12:46pm.

Los Angeles - Live Nation, a concert promotion and venue management company, announced on Monday that it has acquired a majority stake in Musictoday, a service that provides artists with online features like Internet fan clubs, e-commerce and fulfillment, VIP packaging and secondary market ticketing. Financial terms of the deal were not disclosed. Founded in 2000, Charlottesville, Va.-based Musictoday serves over 500 clients, including the Rolling Stones, Dave Matthews Band, Christina Aguilera and the Grateful Dead. The company's gross sales exceeded $100 million in 2005. "As the global leader in concert ticket sales, our investment in Musictoday will enable us to access additional revenue streams centered around the live concert experience including artist merchandise web stores, fan clubs and ticketing," said Live Nation CEO Michael Rapino.

http://biz.yahoo.com/prnews/060731/lam048.html?.v=51
http://www.musictoday.com
http://www.livenation.com