The multi-year alliance will see the companies co-promote tours and concerts across Australia with domestic acts
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The deal has created a "financially sound situation" for Dutch promoter ID&T
By IQ on 16 Sep 2021
Dutch promoter ID&T has signed a partnership agreement with leading live organisation Superstruct Entertainment.
According to today’s announcement, the deal has helped steer ID&T into “a safe haven” after a tough year and a half that saw the company take out a number of loans, slash its workforce, and cancel its festivals.
“By creating this financially sound situation, we have secured the employment of our 100+ employees and are able to move forward with our suppliers who are also struggling at this time,” says Ritty van Straalen, CEO of the ID&T Group.
Financial terms of the partnership have not been disclosed but it has been revealed that the founders and senior management of the ID&T Group have become shareholders in Superstruct.
Providence Equity-backed Superstruct produces a number of major festivals across Europe including Sziget, Elrow, Parookaville, Wacken Open Air, Boardmasters, Sonar and the Dutch festival Zwarte Cross – the company’s first acquisition since the onset of the pandemic in March 2020.
ID&T’s portfolio includes Mysteryland, Defqon.1, Awakenings, and Milkshake – all of which have been cancelled two years in a row due to restrictions.
It is also the parent company of organisations such as Q-dance, ID&T Events, B2S, Monumental (Awakenings), Art of Dance, Platinum Agency, and Headliner Entertainment.
“ID&T is a significant milestone for Superstruct and reflects our deep conviction in the value of experience-focused festivals”
James Barton, chairman of Superstruct Entertainment: “We are very excited to join forces with ID&T, a business that I have long admired. Our partnership with ID&T is a very significant milestone for Superstruct and reflects our deep conviction in the value of experience-focused live music festivals and our excitement about the significant joint growth opportunities that lie ahead as live events return.”
The companies say the deal will provide great opportunities in sharing knowledge and creating synergies between the companies to further improve the fan experience at their festivals.
Ritty van Straalen, CEO of the ID&T Group adds: “ID&T will celebrate its 30th anniversary in 2022. This partnership is an important strategic step in the development of our company, which we already embarked upon in 2019, pre-covid, and was ultimately delayed by 1.5 years.
“The past 19 months have been very tough for us and the entire event industry, but we are excited to see that Superstruct has been able to look through the current environment, recognising the combined potential of these two world-class companies.
“The international live events industry is increasingly consolidating and Superstruct has developed itself into a high quality, market-leading powerhouse in our industry. We are happy to be part of such an experienced group and strongly believe we can reinforce each other in many ways.”
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