Ticketmaster Buys Stake In Music-Discovery Site iLike.com
The ticket agency hopes to drive more ticket sales by giving customers links to new acts.
Ticketmaster has bought a 25% stake in music site iLike.com, which is expected to enable the ticket seller to offer customers links to new artists.
The online ticket agency, owned by IAC/InterActiveCorp, said Wednesday that it has invested $13.3 million in the music discovery and sharing site. The investment is expected to eventually enable iLike.com to offer performance tickets, while Ticketmaster hopes to drive more ticket sales by giving customers links to new acts. ILike.com also operates the online community GarageBand.com, which caters to music fans and unsigned bands.
"iLike makes it easy for people to learn about music based on what they and their friends like, and we're eager to introduce these features to Ticketmaster customers," Sean Moriarty, Ticketmaster president and chief operating officer, said in a statement. "With our investment in iLike.com, we look forward to a series of integrations that will introduce live events and ticket-purchase opportunities within the iLike music discovery process."
As part of the Ticketmaster investment, Moriarty will join the iLike.com board.
Besides its Web site, iLike.com distributes its services through optional add-ons to Apple Computer's iTunes music store, and to profiles on the popular social network MySpace.com, which is owned by News Corp.
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