Concert promoter taps fan club link
Live Nation buys majority stake in fan club operator Musictoday.
NEW YORK (CNNMoney.com) -- Concert promoter Live Nation said Monday it is buying a controlling stake in fan club operator Musictoday, a move that could bring fans closer to their favorite musicians.
Musictoday operates fan clubs and Web sites for more than 500 clients, including the Rolling Stones, the Bonnaroo Music and Arts Festival, Christina Aguilera and Eminem.
The Charlottesville, Va.-based fan club operator grossed more than $100 million in sales last year, Live Nation said in a statement.
"We are now in the unique position to create opportunities for artist-fan interaction both online through our platforms and offline at venues, taking fan communities beyond the virtual world to the places where artists and fans converge," Musictoday founder Coran Capshaw said in the statement.