Soon, Blockbuster will not only be your destination for video and game rentals, but also concert tickets. Blockbuster will soon begin selling concert tickets at about 500 of its stores, boosting efforts to create a one-stop shop for entertainment.

On Tuesday Blockbuster announced a three-year agreement with concert promoter Live Nation Inc. which will see their stores become the primary brick-and-mortar sales outlet for Live Nation events. With this deal, Live Nation will now have a stable location for their ticket sales, instead of the hodgepodge of department stores, supermarkets and other retailers they had been relying on under a partnershp with Ticketmaster Entertainment Inc. that had been falling apart.

Live Nation, which is based out of Beverly Hills, decided to break away from Ticketmaster to build its own online ticketing channel, as that is where most consumers buy their tickets. Ticketmaster will continue to handle some of Live Nation's sales until contracts that cover several concert venues expire.

Blockbuster is expected to account for less than 10 percent of the more than 10 million tickets that Live Nation anticipates selling in the U.S. over the next year. The reason being, most consumers purchase their tickets online anyways.

Nevertheless, the deal with Live Nation will benefit Blockbuster in that it is a new way to lure people into its stores. With more people taking advantage of video by mail services such as Netflix or downloading movies, this is another way to attract people to the physical stores.