The partnership will be managed by Live Nation Entertainment's Front Line Management Group division, the world's top artist management company, and will focus on developing direct-to-consumer bundling initiatives for select UMG artists that bring together concert tickets and a variety of music products with artist websites.
In addition, ticketing and bundling products will be handled by Live Nation Entertainment's Ticketmaster division.
"This is an unprecedented partnership that unites the world's top music artists with the world's leading artist management, live entertainment, event ticketing and sponsorship resources to drive innovation across our industry,” says Irving Azoff, executive chairman of Live Nation Entertainment and chairman and chief executive officer of Front Line Management Group. “We see tremendous opportunities to work together to create a broad range of products built on the power of music and the direct connection between artists and fans."
"Together with Irving and Michael, we are creating a series of new platforms and global direct-to-consumer initiatives that will further expand the presence of our artists in this evolving marketplace while providing music fans with even more flexibility in how they consume music," says Lucian Grainge, chairman and chief executive officer of UMG. "Our artists and their music are at the heart of everything that we do, and by leveraging our combined skills, strengths and global reach with that of Live Nation Entertainment, our management companies, artists and their fans will benefit immeasurably."