Coke will become the "official soft drink of Live Nation". Their goal is to sell more drinks while promoting concerts and artists. Live Nation is the owner of 84 venues in the United States, and Coke will be served in 76 of those venues.
Live Nation is a very popular concert promotion company that sold 50 million concert tickets last year and who's website generated 70 million unique hits. They are also aligned with many artists which would introduce Coke to even more celebrity affiliations.
Coca-Cola has 12 million fans in their loyalty program. Russell Wallach, the president of national alliances at Live Nation, said that "we can tap into the 12 million fans and market our tickets and merchandise directly to their customers".
I think this is a win-win situation for these two large companies. Live Nation will benefit most, I believe, from this alliance with the exposure that they will get from teaming up with such a popular brand. It is also great for Coke's public relations since it will associate them with popular musicians and concert events.
It will also be great for Coke because their products will probably be the only non-alcoholic beverages at these 76 venues... Venues frequented by both thirsty moshers and parched opera fans alike.
ReplyDeleteThat's amazing. You are right it will benefit both companies. Coke is such a well known brand and mostly everyone loves it.
ReplyDeleteI always find huge deals made with such big companies so interesting. You have to think of the time and money that's put into it. I think that Coke will benefit from this deal greatly, maybe not as much as it would have a few years back when ticket sales were so much higher, but still a great deal.
ReplyDeleteI think it is a great idea for both companies to merge together. I think it will benefit coca-cola more than Live Nation, due to the fact that Live Nation will be selling coca-cola at all of the concert events.
ReplyDeleteI always go through Live Nation to get my tickets, this is a great move by coke. What I find interesting is how sense companies are in need of money so bad during this recession, the huge corporations are even going to lengths to team up. Again my point is, everyone is money hungry!
ReplyDelete