The company has hired MTV alum Heather Parry to build a TV-and-film production studio and has announced plans to produce programs with Vice Media, Hulu, and virtual-reality company NextVR. By letting fans experience the concert vibe at home or on the go, Live Nation hopes to draw more advertising revenue, which already brings it more profits than the low-margin concert promotion business. The company also hopes exposing TV and online viewers to videos of its acts will bolster ticket sales for future live concerts.
Source: Live Nation Wants to Bring Concerts to Your Living Room – Bloomberg