Hutchinson, who joined the FA following the departure of long-serving biz dev chief Jim Frayling, will step down at the end of the year
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Warner continues its international live sell-off… with CTS Eventim believed to be waiting in the wings to snap up Vivo Concerti
By Jon Chapple on 13 Mar 2018
Clemente Zard, managing director of Italian promoter Vivo Concerti, has acquired the company in a management buy-out from former owner Warner Music Group (WMG).
Zard, son of recently deceased Libyan-Italian concert promoter/agent David, says Vivo Concerti will continue to work closely with Warner Music Italy, including promoting tours by its artists.
The sale of Vivo Concerti, acquired by WMG in 2011, follows similar sell-offs by Warner in France, where it passed ownership of Nous Productions to Live Nation in 2016, and Germany, where it last year offloaded Neuland Concerts to its MD, Christian Gerlach.
Marco Alboni, chairman and CEO of Warner Music Italy, comments: “It’s been a great pleasure to work with everyone at Vivo over the last six years. The company is well placed to be a key player in the live market and I want to wish everyone there all the best going forward.
“I think we have a great future as a player in Italy’s exciting live sector”
“This move will enable us to focus on our core business of A&R, content creation and providing tailored services to existing and new artists.”
“I would like to thank Marco and the whole team at Warner Music Italy for their support as we’ve gone through this process,” adds Zard (pictured, centre). “I look forward to working with them in the future as Vivo pursues its own destiny in the touring business.
“I think we have a great future as a player in Italy’s exciting live sector.”
The future, according to Italian magazine Rockol, will include its acquisition by CTS Eventim – the German ticketing outfit’s fourth in Italy since September, as it continues to grow its concert footprint following the recent buy-out of Di and Gi.
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