CTS continues Italy roll-up with Vivo acquisition
As expected, CTS Eventim has announced it is to acquire a controlling stake in newly independent Italian promoter Vivo Concerti, in its fourth acquisition in Italy in less than eight months.
Vivo Concerti CEO Clemente Zard led a management buy-out of the company, which had been owned by Warner Music since 2011, last month. Warner has in recent years sold off a number of its live properties, including Nous Productions in France and Neuland Concerts in Germany.
The acquisition will be effected through one of CTS Eventim’s local subsidiaries, which include Vertigo (since September), Friends and Partners (since November) and D’Alessandro e Galli (since February).
Along with promoting Italian tours by international and local acts – which in recent years include Evanescence, David Guetta, Demi Lovato, Tokio Hotel, Sam Smith, Brian Wilson and Hans Zimmer, and Benji & Fede, Mannarino and Thegiornalisti, respectively – with Vivo, Zard is also active as an independent promoter of concerts and musicals, until recently often in partnership with his late father, David.
Zard, who will continue to hold shares in Vivo and run the company from Milan, comments: “Ever since I took over Vivo Concerti, I have wanted to work with an international partner. I am all the more delighted that, within a short time, we have found a global player in CTS Eventim, a company that is not only very familiar with our market segment, but which also shares our vision.
“We are absolutely delighted to be strengthening our position in the Italian market even further”
“Vivo Concerti will continue to bring a fantastic range of international and Italian artists together with their fans and put shows on the road that are as fresh and innovative as our company itself.
“At the same time, I would like to thank our former colleagues at Warner Music Italy, personally and on behalf of my team, for two fulfilling and formative years. During that period, we gained the self-confidence and experience to take the next step now in the development of Vivo Concerti. CTS Eventim is the perfect partner in that respect.”
“We are absolutely delighted at strengthening our position in the Italian market even further,” adds CTS CEO Klaus-Peter Schulenberg. “The multi-faceted portfolio of Vivo Concerti complements our existing activities superbly.
“We also welcome Clemente Zard to the ranks of CTS Eventim. [He is] an outstanding promoter who has produced business success stories in recent years, not only as the CEO of Vivo Concerti, but also with his own undertakings.’
Zard leads management buy-out at Vivo Concerti
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.