Ticketmaster, part of IAC, has made another major investment in an online music firm: it has bought a majority in Echomusic, an online fan club and brand management company based in Nashvillle, TN. This follows Ticketmaster’s $13.3 million investment in music community site iLike.com.
Echomusic has clients such as clients such as Kelly Clarkson, Rascal Flatts, Dierks Bentley and Keith Urban, and the two companies will now work together to promote the artists as well as drive concert ticket sales.
FairviewObserver: The two companies said they plan to keep Echomusic’s management in place, including CEO Mark Montgomery and COO Neil Einstman, who together co-founded the company in 1999, as well as add about 13 or 14 staff positions over the next nine months.
Related: Ticketmaster Invests $13.3 Million in Music Community Site iLike.com