When Live Nation Entertainment appointed Xaxis alum Mike Finnegan as its first ever VP of programmatic and product innovation – a role he assumed Monday – it did so with the intention of using its first-party data to build bespoke audiences for advertisers.
Formed in 2010 when events promoter Live Nation merged with ticket sales company Ticketmaster, Live Nation Entertainment is taking advantage of programmatic’s maturation as well as its own evolution into what it describes as a digital publisher, content producer and digital solutions company.
“Low-cost banners aren’t what [advertisers] want anymore,” said Finnegan, who spent three years at Xaxis, initially building a managed service team to execute programmatic buys and later as its director of product development. “Now [programmatic is] much more focused on audience and unique media executions.”
Consequently, Live Nation Entertainment’s initial foray into programmatic will focus on that audience-creating practice, as opposed to pushing inventory onto an open exchange.
“We won’t open ourselves up to an open marketplace,” said the company’s SVP of digital sales, Jeremy Levine. “At some point, potentially, but out of the box, it’ll be customized partner-by-partner opportunities.”