Live Nation and Universal announce new alliance

Live Nation's Executive Chairman Irving Azoff has announced that Live Nation and the Universal Music Group are forming a new alliance via Live Nation's management division, Front Line, which will form a new joint venture with Universal, to focus on extending the reach and revenue potential of big name artists through brand partnerships, and the creation of packages containing recordings, tickets and merchandise sold direct to fans via artist websites. Azoff told reporters: "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. 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. We look forward to working closely with Lucian Grainge and the talented UMG team in this new and exciting chapter of the music industry". Grainge, Universal Music's CEO, added: " 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. 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".