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|Live Nation 'Wires' 100 Plus Venues Creating the World's Largest Digital Live Studio Platform|
LOS ANGELES, May 18 /PRNewswire-FirstCall/ -- Live Nation (NYSE: LYV), a leading live event, venue and digital distribution company, will invest to transform 120 venues and festival sites throughout the U.S., Canada and Europe into next generation "wired" studios, which will utilize state of the art technology to capture and repurpose thousands of live concerts for television, mobile phone carriers, terrestrial and satellite radio, online use and other digital music distribution avenues.
Building on a network that already includes 36 "wired" venues across the United States, Live Nation will bring that number to 120 globally by the end of 2006. Live Nation began testing the concept in early 2005, broadcasting more than 350 concerts around the world from a variety of its existing "wired" venues, and becoming the leading producer of live concerts for 3G mobile phones. Over the past few years, the company has also grown its Instant Live division, which makes high quality recordings of live concerts available to music fans immediately following the show. In 2005 alone, Instant Live recorded and made available to music fans more than 250 shows from 50 different artists.
The investment in additional infrastructure to create a larger, more technologically sophisticated acquisition network will build on the company's proven track record to deliver high quality content to a variety of distribution channels.
"Live Nation is involved with more than 29,000 live events reaching more than 60 million fans a year," said Live Nation Chief Executive Officer Michael Rapino. "Our venues are natural platforms for transformation into live studios, particularly given recent advancements in recording technology which have dramatically reduced costs. Lower production costs coupled with the proliferation of distribution channels hungry for live content, have created a unique opportunity for Live Nation to help artists connect with their fans in a brand new way."
About Live Nation
Live Nation is a leading live event, venue and digital distribution company focused on creating superior experiences for artists, performers, corporations and fans. Live Nation owns, operates or has booking rights for 153 venues worldwide and produced more than 29,500 events in 2005. Live Nation operates more than 60 websites globally. Headquartered in Los Angeles, California, Live Nation is listed on the New York Stock Exchange, trading under the symbol "LYV." For more information regarding Live Nation and its businesses, please visit the company's website at www.livenation.com.
SOURCE Live Nation -0- 05/18/2006 /CONTACT: John Vlautin of Live Nation, +1-310-867-7127, email@example.com/ /Web site: http://www.livenation.com / (LYV) CO: Live Nation ST: California IN: ENT MUS FLM SU: LP -- LATH026A -- 1563 05/18/2006 08:00 EDT http://www.prnewswire.com