Live Nation acquires Colombian company Páramo Presenta and plans further expansion in Latin America

  • Save on computer

Live Nation acquires Colombian company Paramo Presenta and plans further | Richmcculley

  • Save on computer

Bogota Colombia. Image source: Random Institute

A little less than four months after acquiring Hong Kong-based concert and festival promoter Clockenflap, Live Nation has announced a deal for “a majority stake” in Colombian band Páramo Presenta.

Ticketmaster’s parent company officially announced its latest acquisition today, via email to Digital Music News. The acquisition will be conducted specifically through Mexico City-based Ocesa Entertainment (in which Live Nation acquired a majority stake some 19 months ago) and will allow the leading promoter a stake in Páramo Presenta’s “flagship event” Estereo Picnic.

The event spans four days Edition 2023 is said to have attracted “more than 100,000 people” when it took place in Bogotá last March. Also organized by Páramo Presenta are the Baum Festival (also held in Bogotá) and the Colombian edition of Knotfest.

Going forward, Páramo Presenta will sell tickets for “all future events” through Eticket or “OCESA’s Colombian ticketing unit,” according to Live Nation. The latter’s President and CEO, Michael Rapino, meanwhile, was not lacking in revenue or confidence, making it clear that he plans to “continue to work with our new partners at Páramo and long-term partners OCESA as we continue our expansion across Latin America.” “.

In his own remarks, Gabriel García, CEO of Páramo Presenta, added: “We celebrate this historic merger with Live Nation and OCESA, two of the world’s most important entertainment companies, with the firm belief that it will take us forward.” We achieve new heights and ensure even more unforgettable moments between artists and fans. This will make us an important part of the country’s growth and strengthen our market to be increasingly competitive on the global live entertainment stage.”

Live Nation’s latest track (in October, the company acquired a “significant equity interest” in the Broccoli City Festival in Washington, DC) is poised amid the music industry’s continued growth across South America — and particularly in Brazil, where TikTok Music is now represented Media spotlight available.

On the artist side, Warner Music Asia and GEM dropped out today epiphanya “fresh interpretation” of the year 2022 Epiphany, This makes the Shanghai-born band “the first Mandopop artist to release a full-length Spanish album,” according to the parties involved. Previously, the singer-songwriter was Mandarin epiphany had become “very popular in South America” ​​according to Warner Music.

Last week, Live Nation unveiled the Mindful Nation meditation app after committing to a flat fee at a White House event in June. As the market closed this afternoon, Promoter’s (NYSE: LYV) stock was worth $92.03 a share, up slightly from Friday but about 7.5 percent higher than LYV’s value a month ago.