The future of the concert business is a 5G-enabled smartphone. Enter Verizon.
, is an entertainment hub that gives Verizon customers a single place to manage subscriptions to Netflix, Disney+, discovery+, Peloton and other streaming services.
By wiring venues for 5G and incorporating streaming technologies, Live Nation could begin to change the concert experience for fans, artists, promoters and venues. In an interview on CNBC Monday morning, Rapino said “we can now start figuring out ways we can engage with that customer on site from upgrades to special merchandise to special access,” he added.
Having the ability to sell tickets to Verizon customers is a marketing bonanza for Live Nation. Although it gets the majority of its revenue from its concert business, Live Nation’s ticketing company, Ticketmaster, is the single-largest contributor to its bottom line. In 2021, Ticketmaster had adjusted operating income of $421 million compared to a company-wide AOI of $330 million and a $221-million loss for the concerts division.
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