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Live Nation buys first Australian festivals

With the acquisition of a 51% stake in Secret Sounds, Live Nation has added two of Australia's leading festivals to its burgeoning festival portfolio

By IQ on 05 Dec 2016

Splendour in the Grass 2016, Secret Sounds, PRNewsFoto/Live Nation Entertainment

Splendour in the Grass 2016


image © PRNewsFoto/Live Nation Entertainment

Live Nation has bought into the Australian festival market with the acquisition of a majority stake in Splendour in the Grass and Falls Festival promoter Secret Sounds.

In addition to adding Splendour in the Grass and Falls to its growing festival business, the acquisition of a 51% stake in Secret Sounds also includes the New South Wales-based company’s touring, sponsorship, PR, artist management and agency divisions.

The live entertainment giant, whose Australian/New Zealand arm is headquartered in Melbourne, most recently added to its portfolio of 80+ festivals with the acquisition of Sweden Rock just under two weeks ago.

“Splendour in the Grass and Falls are the two most iconic festivals in Australia,” says Live Nation president and CEO Michael Rapino. Jess [Ducrou] and Paul [Piticco] have created events that attract the biggest artists in the world but still feel uniquely Australian. We look forward to partnering with them to find new ways to grow our live event footprint across Australia.”

“We started Secret Sounds with the sole mission of introducing Australians to the best artists, events and music possible, and Live Nation is the perfect partner to help us take this goal to the next level”

Co-CEOs Ducrou and Piticco add: “We started Secret Sounds with the sole mission of introducing Australians to the best artists, events and music possible, and Live Nation is the perfect partner to help us take this goal to the next level. With their support we can continue to curate the line-ups that fans love while also experimenting with new exciting ways for fans to experience live music.”

Around 33,000 people attended Splendour in the Grass 2016 in Byron Bay, which was headlined by The Strokes, The Cure and Flume.

Falls, a multi-city event with festivals in Lorne, Victoria; Marion Bay, Tasmania; Byron Bay in New South Wales; and Fremantle in Western Austria, attracts more than 60,000 festivalgoers per day. Recent headliners include Disclosure, Arctic Monkeys, Kings of Leon, Childish Gambino and London Grammar.

 


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