July 23 (Bloomberg) -- Rdio Inc., the music-streaming service started by billionaire Skype co-founder Janus Friis, will supply songs on the website of concert promoter Live Nation Entertainment Inc., gaining a source for potential users.
People shopping for tickets at LiveNation.com will be able to register for Rdio and listen to tracks on the site, Rdio Chief Executive Officer Drew Larner said in an interview. Those who don’t register will be limited to 30-second samples, he said. A start date hasn’t been announced.
The agreement with Live Nation, the world’s biggest concert promoter, exposes Rdio’s free service to music’s biggest fans, with a goal of making them to paying subscribers, Larner said. Rdio will sponsor events organized by Live Nation, he said. Rdio is signing up users through similar partnerships with Facebook Inc. and other social-media sites, Larner said. He declined to give specifics on user counts.
“Marrying what we do with streaming and discovery, and promoting artists with live music, is a natural fit,” said Larner, who plans to step aside as CEO after hiring a replacement. “A streaming service like Rdio and live concerts can be a virtuous circle.”
Rdio, based in New York, will sponsor Live Nation’s country music festivals Faster Horses and Watershed, as well as the pop-themed Sasquatch Festival, Larner said. Closely held Rdio will set up booths at the events, offering free phone-charging centers and other promotions, he said.
“To reach mass market, we need to attract people who are buying CDs and MP3s,” Larner said. “This is part of a multiprong strategy to raise awareness.”
Live Nation, based in Beverly, Hills, California, fell 0.2 percent to $16.43 yesterday in New York. The stock has climbed 76 percent this year.
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