Italy’s Color Sound sells stake to label Artist First
Long-running Italian booking agency Color Sound has sold what it describes as a “significant stake” in the company to Milan-based record label and music distributor Artist First.
Founded in 1989 by Antonio Colombi, Color Sound has represented a roster of high-profile Italian artists, with current acts including stars Ornella Vanoni, Le Vibrazioni, Patty Pravo, Roby Facchinetti and Riccardo Fogli.
The investment is the first by Artist First (A1) in the live music sector, and follows the recent purchase of digital agency Officine Orange and the launch of its own studio complex. The company has 50 employees in Milan and an office in London, and works with acts including Andrea Bocelli, Gazzelle and a number of international artists.
“When the chance came to make a significant investment … we jumped at the chance”
“Live music is the keystone of our industry and remains a hugely important part of how artists engage with audiences and vice versa,” comments Ferrante. “Although life has been extremely hard for this sector during the last year or so, we force a boom in live concerts in the near future and are confident this sector will bounce back stronger than ever.”
A1’s buy-in to Color Sound is the latest investment by a recorded music business into the live industry, following recent moves by Sony Music, Universal Music and BMG.
Ferrante continues: “Color Sound are one of the most revered live music booking agencies in Italy and when the chance [came] to make a significant investment into their business and bring them closer to the A1 family we jumped at the chance. It is important to us that we offer a full service to our clients, and this is another step towards being able to add even more value to our existing offering.”
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