LIVE NATION BUYS INTO LIVESTREAMING

Live Nation has acquired a majority stake in Veeps, the ticketed livestream platform created by Joel and Benji Madden of Good Charlotte.

The artist-centric platform, which hosted around 1,000 ticketed livestream shows in 2020, is designed to enhance engagement between artists and fans with features like chat and merch purchases while also supporting broad social marketing and intimate VIP offerings. Established in 2017, Veeps has been used by Brandi Carlile, Liam Payne, Rufus Wainwright and many others.

“We're impressed by what Benji and Joel have created with Veeps, and their platform will create new ways to enjoy thousands of Live Nation concerts,” said Michael Rapino, President and CEO of Live Nation Entertainment. “Livestreaming is a great complement to our core business and essentially gives any show an unlimited capacity. Looking to the future, livestreams will continue to unlock access for fans—whether they are tuning into a sold-out show in their hometown or watching their favorite artist play in a city halfway around the world.”

The Maddens and cofounders Sherry Saeedi and Kyle Heller will remain at the helm of Veeps, with their full team staying on to maintain operations for the business.

Joel Madden said, “This partnership is a demonstration that premium, ticketed livestreams have earned themselves a permanent place in the verticals of every artist business. Last year Veeps livestreams helped artists—both big names and new acts—make over $10m for themselves, their families, their crew and their chosen causes and we’re looking forward to helping even more artists connect with fans this year in ways that support their art and development.”

Benji Madden added, “We will only see this platform get more innovative as concerts return and we layer into shows in even more ways.”