Concert and ticketing giant Live Nation Entertainment is teaming up with technology leader Apple to sell concert tickets through Apple's iTunes store.

Apple made the announcement today, September 1, during a press event where they debuted revamped iPod music players and other products.

To accommodate ticketing, the tech company's iTunes software is being updated to include a music-based social network, which the company calls "Ping," that will allow users to discover concert listings and information, and feature links to tickets.

"See when artists are playing near you and see who else will be in the audience, too. Then click to buy tickets from Live Nation," Apple states in a promotional ad on its Web site.

The partnership is a potential boon to Live Nation by exposing its concert tickets to millions of music lovers. Live Nation has seen concert ticket sales slump in 2010.

Terms of the partnership were not disclosed.

"We are thrilled to power the concert listings feature on iTunes and deliver this new and simple way for millions of iTunes users to purchase concert tickets at Livenation.com and Ticketmaster.com," Live Nation President and CEO Michael Rapino said in a statement. "Our partnership with Apple is a key part of our strategy to empower fans with the greatest access to live entertainment."

Earlier in the year, Apple reportedly sought to patent an event ticketing system through its iTunes store. The paperless ticketing system was temporarily called "Concert Ticket +" and would allow fans to buy tickets via an iPhone app and/or through iTunes. The status of the patent application is unknown.