SAN FRANCISCO, CA. (Top40 Charts/ Live Nation/ AdBrite) - Live Nation (NYSE: LYV) and AdBrite today announced the launch of Live Nation eFan Finder, a new proprietary service that helps local Live Nation concert promoters, artist managers and agents track and view the performance of Live Nation's online advertising campaigns for thousands of shows it produces and markets in North
America each year.
Research shows that more than a third of live music fans find out about concerts on the web, while traditional concert industry marketing practices are to spend only a small fraction of advertising dollars online. With Live Nation eFan Finder, Live Nation's local marketers are able to easily create and place tailored ad campaigns for the company's concerts, utilizing geo- targeting and other advanced matching technologies to connect with music fans on AdBrite's network of 50,000 web sites. Live Nation eFan Finder then allows artists, agents, and band managers to see websites on which their ads have appeared and provides reporting to show how many times an ad was shown and clicked on.
"Our partnership with AdBrite and the creation of Live Nation eFan Finder enables us to market our 10,000 shows in North American more efficiently by reaching music fans directly on the web," said Jason Garner, Chief Executive Officer of North American Music at Live Nation. "We expect eFan Finder to result in reduced marketing costs and increased impressions, all while providing instantaneous reporting for managers and agents and our local marketers across the U.S."
TNS Media Intelligence forecasts online ad spend will increase 14.4% in 2008, outpacing the growth in spend on traditional media such as TV, radio, outdoor, and newspaper. While targeted and cost-effective, online ad placements can be less predictable or visible than the newspaper ads, radio spots, or outdoor placements than band managers are accustomed to seeing. Live Nation eFan Finder provides transparency to artists and band managers, making their online campaigns more tangible and allowing them to better understand how their online advertising is performing.
Today's announcement builds on a deepening partnership between the two companies. Over the past year, Live Nation has used AdBrite's network to promote concerts for artists such as Van Halen, Josh Groban, Maroon 5, Dave Matthews Band, and Jonas Brothers. These programs have leveraged many of AdBrite's most powerful tools, including OTX (Open Targeting Exchange), Full Page Ads, and the company's Facebook App channel.
"We're pleased to be working with the world's largest live music company. Live Nation is a truly progressive marketer who is committed to driving results for artists, agents, and band managers," said Ignacio Fanlo, CEO of AdBrite. "With AdBrite's transparent marketplace and new Open Targeting Exchange (OTX), Live Nation's concert promoters have a powerful new platform for connecting with music fans and proving the results to artists, agents, and band managers."
The AdBrite marketplace reaches 85 million U.S. monthly visitors, serving ads on nearly one billion page-views per day. AdBrite serves ads on over 50,000 websites, including 8 of ComScore's Top 20 US media properties. AdBrite's Music Channel features quality sites such as Billboard, Pure Volume, and Music.com.
