Concert promotions and events company Live Nation has make a purchase, snagging boutique media analytics firm BigChampagne.
Acquisition of the 26-person BigChampagne has interesting implications for both companies, and CEO of the newly-purchased firm Eric Garland remarked on the possibilities for both companies:
“For Live Nation, it means they’re becoming a technology-driven company. For us, we’re going from playing a little club to the biggest stage in the world- it’s an eco-system to come into and an opportunity to take. I haven’t even begun to wrap my head around how big these properties are together.”
“Merch, touring, endorsement money, sponsorships, licensing, recorded music… I went begging to all the usual suspects in all those areas that traditionally get ignored as chart eligible and started licensing data. That’s where this all started — with Ticketmaster, who gave me the ticketing data. It didn’t start as a M&A discussion at all. The mandate is to take all the underlying capacity behind our B-to-B product and extend it to the consumer – so we’re trying to improve fan experiences using data analytics. We’re getting to know [the consumers] better and we’re connecting people with things they love which are nearby, either in physical space or time space.”
The acquisition was about ten months in the making, but Garland seems very positive about the potential for both companies, if his Twitter feed is any indication. Financials for the deal were not disclosed.