LOS ANGELES, May 18 /PRNewswire-FirstCall/ -- Live Nation (NYSE: LYV),
a leading live event, venue and digital distribution company, will invest
to transform 120 venues and festival sites throughout the U.S., Canada and
Europe into next generation "wired" studios, which will utilize state of
the art technology to capture and repurpose thousands of live concerts for
television, mobile phone carriers, terrestrial and satellite radio, online
use and other digital music distribution avenues.
Building on a network that already includes 36 "wired" venues across
the United States, Live Nation will bring that number to 120 globally by
the end of 2006. Live Nation began testing the concept in early 2005,
broadcasting more than 350 concerts around the world from a variety of its
existing "wired" venues, and becoming the leading producer of live concerts
for 3G mobile phones. Over the past few years, the company has also grown
its Instant Live division, which makes high quality recordings of live
concerts available to music fans immediately following the show. In 2005
alone, Instant Live recorded and made available to music fans more than 250
shows from 50 different artists.
The investment in additional infrastructure to create a larger, more
technologically sophisticated acquisition network will build on the
company's proven track record to deliver high quality content to a variety
of distribution channels.
"Live Nation is involved with more than 29,000 live events reaching
more than 60 million fans a year," said Live Nation Chief Executive Officer
Michael Rapino. "Our venues are natural platforms for transformation into
live studios, particularly given recent advancements in recording
technology which have dramatically reduced costs. Lower production costs
coupled with the proliferation of distribution channels hungry for live
content, have created a unique opportunity for Live Nation to help artists
connect with their fans in a brand new way."
About Live Nation
Live Nation is a leading live event, venue and digital distribution
company focused on creating superior experiences for artists, performers,
corporations and fans. Live Nation owns, operates or has booking rights for
153 venues worldwide and produced more than 29,500 events in 2005. Live
Nation operates more than 60 websites globally. Headquartered in Los
Angeles, California, Live Nation is listed on the New York Stock Exchange,
trading under the symbol "LYV." For more information regarding Live Nation
and its businesses, please visit the company's website at
http://www.livenation.com.
SOURCE Live Nation
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Related links:
http://www.livenation.com
CONTACT:
John Vlautin of Live Nation, +1-310-867-7127,
johnvlautin@livenation.com
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