Live Nation and Uber – a match made in heaven?
Live Nation and Uber are entering into a new partnership that could bring both companies a substantial business boost. But how do a ride-hailing company and a live events organiser find synergy? The answer is simple: Live Nation will update its app, adding a new function that lets users order rides through it, including the time and cost estimates for the trip. Live Nation will also create pick up and drop off areas at its amphitheatres, letting fans get quicker and easier access to concerts.
Live Nation’s share price has appreciated by 31% year to date
Source: Yahoo Finance
If the advantages aren’t clear, this set up could work well for both companies. Live Nation concert- and festival-goers may well want to drink during the shows they go to, not feel comfortable driving at night, not have their own transportation, or more. By integrating Uber functionality, Live Nation is making one low-cost opportunity more convenient for users than ever before (and, if ecommerce has taught us anything, it’s that convenience sells). Perhaps just as importantly, by using one integrated partner, Live Nation is making a single entity responsible for any travel issues to and from its gigs.
In a press release, Live Nation co-president of North American Concerts, Mark Campana, said “offering the ability to request a safe and hassle-free Uber ride through our Live Nation app lets fans focus less on arrivals and departures, and more on their great live music experience.”
Matt Wyndowe, head of product partnerships at Uber, added: “We are thrilled to work with Live Nation to launch this first-of-its-kind partnership. With this integration, music lovers from across North America will be able to connect with Uber and request a reliable ride at the touch of a button.”
Dominion holds Live Nation in its Global Trends Ecommerce Fund.
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