LOS ANGELES (CelebrityAccess MediaWire) — Live Nation has partnered with media analytics company Marketshare to develop a suite of software tools to allow clients to set and adjust ticket prices for their live events.
The new tools, part of Live Nation's LiveAnalytics, aim to provide artists, promoters, and venues with the ability to more accurately forecast demand and adjust pricing for tickets to market conditions. Live Nation says that the data driving these tools will be drawn from historical ticket sales to search and video activity and social media data.
The company will begin rolling out its products for select leagues, including the MLB, NBA and NHL as well as venues, including Live Nation amphitheaters, this year. The company also says they have plans in the works for a similar tool for the arts and theatre segment. – CelebrityAccess Staff Writers