More news from Live Nation!

Following the news that Live Nation had opened a new division in South Korea, CMU Daily reports that the live music, ticketing, label, venue and management group is planning a new partnership for the Japanese market in 2012. It seems there are plans for a joint venture with one of the country's leading promoters Creativeman Productions, headed up by CEO Naoki Shimizu, to tour major Live Nations acts with U2 and Madonna rumoured to be on the cards.

Live Nation launch in South Korea

Live Nation has launched a new division in South Korea , headed up by Steven Kim and Yongbae Cho, both veterans of the country's live industry. Confirming the new office, to be based in Seoul, Live Nation head honcho Michael Rapino said "We see great opportunity for concerts around the world and our move into South Korea represents another step in the growth of this business. Our strategy is to continue our international expansion into under penetrated regions and identify new markets to deliver our unique live experience product".

Live Nation buys Big Champagne

Live Nation has bought BigChampagne, the US-based research company which specialises in monitoring and assessing online media consumption. BigChampagne have become increasingly prolific in monitoring social media activity in recent years and Live Nation CEO Michael Rapino says that "We love the basics of what they've created, and love the idea of taking an incredible amount of fan data off and online and merging that into a relevant database of what artists are most popular and relevant to today's consumer".

Live Nation profits up

Live Nation saw revenues decline year-on-year in the summer quarter but profits were up. Revenue was down 2.5% to $1.79 billion for the quarter ending 30 Sep 2011, but net income was up 1.4% to $51.7 million. Perhaps more importantly, the company is having a profitable year - nine months into the current financial year profits stand at $16.5 million, them having made losses of $228.4 million in the previous financial year.

Live Nation connects with new music

Live Nation has launched a online music venture called Live Connection (www.live-connection.co.uk) to work with new bands to create audio and audio visual recordings which will be promoted to the music industry and fans alike. The music created will be available via We7 and played into students unions using the Sub.TV network and fans signed up to the Live Nation, Ticketmaster and the Academy Music Group's mailing lists, and the bands will be free to use it for their own promotional purposes.

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".