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Live Nation Buys Stake In Live-Streaming Concerts Platform Veeps

According to reports by the Variety, Live Nation; the world’s largest live-entertainment company, has acquired a majority stake in Veeps, the ticketed livestream platform launched by Joel and Benji Madden of the band Good Charlotte. The Madden brothers, along with cofounders Sherry Saeedi and Kyle Heller, will remain at the helm of Veeps, with their full team staying on to continue with all operations of the business, according to the announcement.
Established in 2017, Veeps is designed for ticketed livestreams, and facilitates engagement between artists and fans with features like chat and exclusive merch purchases, while also supporting broad social marketing and VIP offerings. Unlike many livestream platforms, Veeps is also commission-free.
The platform, which hosted approximately 1,000 ticketed livestreams in 2020, has presented concerts by artists including Brandi Carlile, Liam Payne, Pete Yorn, Louis Tomlinson, Architects, Rufus Wainwright and many others. While the company declined to share audience numbers, Live Nation noted that Payne’s concert (pictured) in October “was primarily responsible for a record number of over 3.7 billion chat messages on Veeps across all livestream shows that month.” Wainwright held more shows on the platform in 2020 than any other artists with 33.
The move is a logical one for Live Nation: While infectious-disease expert Dr. Anthony Fauci has said that mass gatherings like concerts may return by the autumn “if everything goes right” — a big if, considering the United States government’s weak response to the pandemic — the process will inevitably be gradual, and it may be some time before people feel comfortable gathering in enclosed spaces with fellow humans. A future scenario where most major concerts offer both live and livestreamed options seems likely.
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