Live Nation Gets Analytical

Live Nation Entertainment is launching a new venture called LiveAnalytics, aimed at producing “rich data analytics products that provide client’s fan insights for their business.”

Despite whatever the bottom line is showing, the company is hardly cutting back on investing in technology.

At the opening ILMC panel in London March 11, international chief ops officer Paul Latham said the company is also spending $35 million on a rewrite of its ticketing software.

LiveAnalytics, a partnership with Teradata, is looking to capitalize on Ticketmaster’s 180 million-name database to provide the company’s sports and venue clients with information on customer preferences, ticketing trends, and industry benchmarks.

The new outfit will be headed by John Forese, formerly an exec with Motally and Nielsen.

It’s not yet known which clients will have access to what data or how privacy will be maintained.

According to data released by LiveAnalytics, 61 percent of Americans polled last year attended at least one live entertainment event, and 35- to 44-year-olds attended an average of 10 live entertainment events in 2010.