Yahoo! Inc. (NASDAQ:YHOO) partnered with Live Nation Entertainment, Inc. (NYSE:LYV) and started a free online music concert project in July. So far, this venture has been going successfully and provided a platform for many companies to promote their content and services on a wider scale. In an article, Ryan Nakashima, AP Business Writer, analyzed the progress of Yahoo!’s free concerts revenue and results. Live Nation Entertainment, Inc. (NYSE:LYV), Yahoo! Inc. (NASDAQ:YHOO)’s prime partner in live online concert series, reported its second quarter earnings on Thursday, beating all the Wall Street expectations.
Yahoo! Inc. (NASDAQ:YHOO) is also getting a bigger canvas of promotion and ads and this is the most important aspect which was behind the launch of this series as Yahoo! Inc. (NASDAQ:YHOO) is trying hard to make its mark in the ad industry. Nakashima thinks that Live Nation Entertainment, Inc. (NYSE:LYV)’s live concerts are likely to attract more people because concerts are on the low around the world because most of the performers cancel their tours to perform in popular festivals like Coachella and Lollapalooza. Therefore, people now prefer to enjoy music live online without suffering any problem. Live Nation is planning to use mobile apps, social media platforms and Internet to increase its user promotion and virality in order to enhance its viewership.
Live Nation Entertainment, Inc. (NYSE:LYV) CEO, Michael Rapino, was quoted as saying that the live concert series will drive a lot of revenue from day one at the start of this concert series. Advertisers like Kraft, Kellogg’s, Citigroup and Sprint are running pre-roll advertising and in-stream overlays.
Yahoo! Inc. (NASDAQ:YHOO)’s CEO Marissa Mayer sees a lot opportunities in this concert series. Yahoo is looking forward to a boost the price of ads. Prices for display ads fell 24 percent last quarter, offset only by greater volume, but the revenue drop was only 4%.
“We’ve continued our focus on video with investments in unique premium content. Fundamentally, premium content draws premium advertisers,” said Marissa Mayer in a conference call this month.
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