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Barcelona's Sónar, majority owned by Superstruct parent Providence Equity Partners, has bought into Madrid's Paraíso festival
By Jon Chapple on 21 May 2019
Advanced Music SL, the promoter of Barcelona’s Sónar festival, has acquired a stake in Paraíso Sonoro SL, the company behind fledgling Madrid electronic music event Paraíso.
According to Spanish promoters’ association APM, Sónar and Paraíso have “joined forces to develop content and create joint strategies”, though each company retains its independence and existing staff and management teams.
Paraíso will mark its second edition in Madrid on 14 and 15 June, with music courtesy of Chvrches, Charlotte Gainsbourg and Laurent Garnier and non-musical content that incorporates art, videogaming and gastronomy.
The 26th edition of Sónar Barcelona, meanwhile, runs from 17 to 20 July. Artists performing include Vince Staples, Underworld, Asap Rocky, Four Tet, Andy C and Disclosure (DJ set).
“This strategic alliance will be very positive for the development of Paraíso and its positioning”
In a joint statement, Paraíso organisers Jose Morán, Ana Sanabia and Nacho Santos say: “This strategic alliance will be very positive for the development of Paraíso and its positioning in the national and international market. We share something essential: the love of music and the way in which we understand this industry.”
“We are particularly pleased to work hand in hand with José Morán and his team, who we have known for 25 years,” add Advanced Music’s Enric Palau, Sergio Caballero, Ventura Barba and Ricard Robles. “Separately, we have created festivals that have become reference models. Now, together, we share a new and stimulating creative challenge.”
Since June 2018, Sónar has been majority owned by Providence Equity Partners, the parent company of Superstruct Entertainment, whose portfolio also includes Sziget, Øya Festival, Flow Festival, Elrow and, most recently, Down the Drain (Northside, Tinderbox) in Denmark and several UK events formerly owned by Global.
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