The announcement is in anticipation of Live Nation's ticketing service, which launches in January and will sell tickets for venues that Live Nation already represents as a promoter as well as third-party partners. Under the terms of the agreement, Live Nation will be the exclusive outlet for SMG's tickets; Live Nation expects the SMG deal to raise its potential ticketing volume by 25 percent.
Live Nation recently ended its ticketing contract with Ticketmaster, owned by InterActiveCorp before CEO Barry Diller. When Live Nation Ticketing launches, the two companies will be direct competitors.
Live Nation has also started, taking the place of a music label and touring manager, as well as a promoter.