Thursday, December 3, 2009

Filmed Concerts Come To iTunes In Live Nation Deal

This is a really cool article I found about iTunes selling concert footage of live shows that they record. I love all the new ideas companies are coming up with to earn more money since CD sales have gone down so drastically. I myself love watching live concert footage, but the problem with a lot of the stuff on YouTube is that the quality is lacking. I am sure ITunes records the shows in HD, and to get to see the whole show from start to finish is a great way to make up for not having been able to be there. My only concern is that live shows are [almost] as easy to find online as albums are. What is going to stop consumers from doing that just as much as they download full albums for free?

Live Nation hopes to gain a new revenue stream on Tuesday when Apple Inc's iTunes begins to feature downloads of some of the live concerts it promotes.

Apple's iTunes will have a section featuring the concerts of about 20 artists ranging from Jesse McCartney to Ziggy Marley when the service begins, the companies said in a statement. They expect hundreds of more shows in the coming months. Prices will start at about $7.99.

Los Angeles-based Live Nation will produce most of the offerings from the more than 20,000 concerts it promotes each year. The company has reached licensing rights deals for live performances with major label owners and artists to enable a smooth launch of the service, it said.

Digital technology has made it significantly more cost-effective to produce and distribute concert recordings through online services like iTunes or

Live Nation did not disclose any financial terms of the agreement, nor did it estimate how much revenue it expects to gain from the venture. But the company's investment risk is expected to be relatively small as it already records many of the show it promotes.

-Woody Ellis

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