LOS ANGELES, (CelebrityAccess MediaWire) — Live Nation has announced the acquisition of Setlist.fm, an online community of music enthusiasts who share concert set lists.
Setlist.fm includes a database in wiki format of more than 400,000 set lists for 24,000 artists in more than 70,000 venues around the world, spanning decades of live music. The sight also enjoys high traffic and according to Live Nation, Setlist.fm chalks up more than 1.5 million individual users each month.
Live Nation is hoping to use Setlist.fm to bolster their own eCommerce community offerings, saying in a press release that "Setlist.fm will create a richer, more interactive fan experience within the Live Nation community."
Since the completion of their 2010 merger with Ticketmaster, Live Nation has been focusing heavily on eCommerce development centered around Live Nation Labs. Livenation.com has since grown become one of the most visited music sites on the 'net and the company reported a 63% increase in revenue from eCommerce operations last year.
Financial terms of the acquisition were not disclosed.
"Setlist.fm built a great product for concert fans and we will further elevate this by incorporating it into Live Nation's global portfolio across mobile, apps and online," said Michael Rapino, CEO of Live Nation Entertainment. "Setlist.fm fits perfectly with our goal of providing fans an engaging experience that extends the fun and excitement of the live concert before, during and after the show." – CelebrityAccess staff writers