Dive Brief:
- Verizon and Live Nation Entertainment are teaming up to create a "First Access" presale program, which opens tickets to popular concerts like those of The Weeknd and Imagine Dragons to Verizon customers first through the telecom company's mobile app, per information shared with Marketing Dive.
- In addition to the presale program, Verizon will outfit concert venues across the U.S. with 5G Ultra Wideband in an effort to let concertgoers stream, share and upload photos and videos at faster speeds. The companies are also working to produce exclusive livestreamed concerts through the Veeps streaming platform as part of +play, a content and entertainment hub for Verizon customers, announced earlier in March and due to launch later this year.
- With its range of offerings for Verizon customers, the partnership with Live Nation aims to raise the profile and reach of 5G — which has been slowed due to numerous concerns — as more people are returning to in-person concerts and events.
Dive Insight:
The pandemic dealt a major blow to Live Nation in 2020, with revenue dropping 84% from the previous year. While the company was able to reduce operating costs and many fans held onto tickets in hopes of attending a rescheduled or postponed show, the health crisis has not been kind to the ticket seller. As a new normal grows seemingly closer, many consumers are eager to get back into concert venues. Live Nation's match-up with Verizon to promote its long-hyped 5G network may help to forge deeper connections with Verizon customers, as many of the new offerings are exclusive to those with the mobile service, and general concertgoers as they return to in-person entertainment at higher rates.
Verizon's new 5G program has seen similar woes to Live Nation. While Verizon saw a slight increase in revenue so far during the pandemic, its 5G rollout has gone less than smooth, with questions surrounding its safety, especially near airports. Additionally, consumers have lingering questions about 5G's value, a hesitancy that may slow uptake. Verizon is responding with a bevy of concert-related offerings exclusive to its mobile customers in a bid to sweeten the deal for upgrading to 5G.
"The partnership we're announcing today is a continuation and deepening of Verizon's long-standing relationship with Live Nation," Hans Vestberg, Verizon's chairman and CEO, said in a press release. "Predicated on technology and our massive consumer base, this partnership will elevate the ecosystem of music — how fans engage, how artists produce and perform, and how venues deliver enhanced in-person experiences and scale them digitally."
By partnering with Live Nation, Verizon is able to introduce wary consumers to the value of being on a 5G network. As people seek to crowd concert venues once again, the mobile carrier has the chance to introduce large numbers of people to the benefits of its ultrafast network. The partnership also gives Verizon a potential edge over competitor AT&T, which is also rolling out a nationwide 5G network. By providing consumers with access to in-demand concerts, Verizon gives patrons a reason to choose it over its competitors as 5G demand grows.
Verizon's match-up with Live Nation marks its latest venture into incorporating music into its 5G marketing strategy. Last fall, it opened an augmented reality (AR) treasure hunt that featured a recently released music track from pop singer Halsey.
