Live Nation has acquired a majority stake in ticketed livestreaming platform Veeps, launched in 2017 by Good Charlotte's Joel and Benji Madden.
"Benji and I have worked extensively with Live Nation over the last two decades and we're very happy to be joining a company that is such a big supporter of artists and artist-led businesses. It’s a natural fit and evolution for our business", says Joel of the deal.
Live Nation CEO Michael Rapino adds: "Livestreaming is a great complement to our core business, and essentially gives any show an unlimited capacity. Looking to the future live streams will continue to unlock access for fans – whether they are tuning into a sold out show in their hometown, or watching their favourite artist play in a city halfway around the world".
"The most critical element of live streaming is the artist on stage", he goes on, "and with Live Nation's unmatched inventory feeding into Veeps, together we will help fans enjoy more live music than ever before".
With the COVID pandemic-fuelled boom in livestreaming over the last nine months, Veeps enjoyed its most successful year to date in 2020. It hosted around 1000 shows, largely in the second half of the year, with artists making - it says - more than $10 million on the platform.