CTS Eventim has completed its acquisition of Vivendi’s festival and international ticketing businesses in a €300 million deal.

The agreement includes See Tickets and a portfolio of 11 festivals including the UK’s Love Supreme and Kite, as well as Garorock in France. Vivendi concert halls including L’Olympia concert hall in Paris, plus See Tickets France and Brive Festival, are not part of the deal.

The French firm’s ticketing and festival activities acquired by CTS collectively produced €137 million in revenues in 2023. The ticketing division generated roughly €105m of that, with an EBITDA of €26m.

The UK market was responsible for the largest share of the revenues, followed by the US, while the festival business generated an additional €32m in revenues. Vivendi bought See Tickets for €96m in 2011. The UK-headquartered ticketing company, which operates in nine countries worldwide, sold around 44 million tickets in 2023.

The companies say the transaction offers new development opportunities to Vivendi’s festival portfolio and See Tickets’ international activities, while ensuring maximum continuity for all their partners. Both See Tickets and the festival business will retain their existing identities and management.

A put option agreement was signed on 2 April.

“The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale”

“With See Tickets and its festival operations, Vivendi has established two notable players in the ticketing and live entertainment sector,” said CTS CEO Klaus-Peter Schulenberg at the time. “I’d like to thank Vivendi for the productive negotiations, which have created a strong foundation for success in an industry enjoying robust growth across Europe.

“The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale. We look forward to collaborating with our new colleagues on shaping the future of live entertainment.”

Pan-European giant CTS’ share price currently sits at €80.45 and is up 28% for the year to-date. The German-headquartered company was among several parties to register interest in buying See Tickets, along with AEG.

In its recently published financial results for Q1 2024, CTS posted consolidated revenue of €408.7m, up 11.6% year-on-year. Ticketing revenue climbed by 23.3% year-on-year to €182.8m, while adjusted EBITDA rose by 24.9% to €83.3m. It acquired Punto Ticket and Teleticket, market leaders in Chile and Peru, respectively, in late 2023.

CTS, which recently confirmed its 18th record year of revenue since its IPO in 2000, also recently secured ticketing deals for several international handball tournaments and was appointed official ticketing service provider for the 2028 Olympics and Paralympics in partnership with AEG’s AXS.

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CTS Eventim is set to acquire See Tickets and a portfolio of festivals from the French-headquartered media group Vivendi.

The German live entertainment behemoth was among several parties to register interest in buying See Tickets, along with Anschutz Entertainment Group (AEG).

However, CTS today announced it has signed a put option agreement on Vivendi’s festival and international ticketing activities, which form part of its Vivendi Village subsidiary.

The transaction is expected to be complete in the coming months and both See Tickets and the festival business will retain their existing identities and management.

While the price of the acquisition was not revealed, the Financial Times reported that Vivendi was seeking up to £300 million (€351m) for See Tickets, which the French firm bought for €96m in 2011.

The UK-headquartered ticketing company, which operates in nine countries worldwide, sold around 44 million tickets in 2023.

Also included in the CTS deal is Vivendi’s festival arm, which includes 11 events such as the UK’s Love Supreme and Kite, and Garorock in France.

The ticketing and festival activities that CTS Eventim is set to acquire from Vivendi collectively produced €137 million in revenues in 2023.

“CTS Eventim will be the right company to bring our ticketing and festival activities to new heights”

The ticketing business generated roughly €105 million of that, with the UK market responsible for the largest share, followed by its US market. The festival business that is part of the current deal generated an additional €32 million.

Vivendi’s performance hall activities, including L’Olympia in Paris, as well as See Tickets France and Brive Festival, are not part of the agreement.

“With See Tickets and its festival operations, Vivendi has established two notable players in the ticketing and live entertainment sector,” says Klaus-Peter Schulenberg, CEO, CTS Eventim.

“I’d like to thank Vivendi for the productive negotiations, which have created a strong foundation for success in an industry enjoying robust growth across Europe. The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale. We look forward to collaborating with our new colleagues on shaping the future of live entertainment.”

Hala Bavière, CEO of Vivendi Village and member of the Executive Committee of Vivendi: “I am proud of what has been accomplished over more than a decade and extremely grateful for the strong dedication of all the teams involved. We at Vivendi are convinced that CTS Eventim will be the right company to bring our ticketing and festival activities to new heights, supporting See Tickets to remain a state-of-the-art company in services and technology, while fostering the growth of the festivals and preserving their unique identities and audience.”

CTS Eventim recently confirmed its 18th record year of revenue since its IPO in 2000. The pan-European ticketing and live entertainment giant’s annual revenue was up 22% in 2023, surpassing €2 billion for the first time to reach €2.359bn, while normalised EBITDA increased at 32% to reach €501.4 million.

Meanwhile, the firm’s share price has increased by 11.20% in the past five days, reaching an all-time high of €83.60 this morning.

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Three potential buyers have emerged for France’s Garorock after the festival was put on the market.

The 50,000-cap event, which launched in Marmande in 1997, was acquired by French-headquartered media giant Vivendi five years ago through its Olympia Production subsidiary.

However, according to a report by Le Républicain, a new owner could be in place by the summer.

“We have received at least three very positive offers,” says a Vivendi spokesperson. “But no decision has been made. The various proposals are under study for several more weeks.”

Garorock 2024 will be held from 27-30 June, headlined by Calvin Harris, Sum 41, Swedish House Mafia and The Offspring. Acts such as Josman, Paul Kalkbrenner, PLK, Timmy Trumpet, Yungblud and Ayra Starr are also lined up to perform.

“To buy Vivendi Village, it can only be a player of this scale”

It was first revealed last September that Vivendi was exploring the sale of parts of its Vivendi Village subsidiary, including its entire festival division – also comprising brands such as Brive and ODP in France and the UK’s Love Supreme and Kite – along with its ticketing firm, See Tickets.

The company reportedly concluded the businesses were not of sufficient scale to compete with the likes of Live Nation and AEG.

AEG and fellow live entertainment giant CTS Eventim were rumoured to have entered the race to acquire See Tickets in late 2023. The Financial Times reported that Vivendi is seeking up to £300 million (€351m) for the company, which it bought for €96m in 2011, with AEG and CTS among the first round of indicative bids

“To buy Vivendi Village, it can only be a player of this scale,” says Garorock founder Ludovic Larbodie, as per Le Républicain.

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Anschutz Entertainment Group (AEG) and CTS Eventim have reportedly entered the race to acquire Vivendi-owned See Tickets.

The Financial Times reports that French-headquartered media giant Vivendi is seeking up to £300 million (€351m) for the company, which it bought for €96m in 2011, with AEG and CTS among the first round of indicative bids submitted in recent weeks.

AEG and Eventim have both declined to comment on the report, while Vivendi says it has “received at this stage several very encouraging offers regarding the possible sale of its ticketing and festival activities”.

It was first reported that Vivendi was exploring the sale of See Tickets, along with its festival division – which includes 11 festivals such as the UK’s Love Supreme and Kite, as well as Garorock in France – back in the autumn, having concluded they were not of sufficient scale to compete with the likes of Live Nation and AEG.

Vivendi announced the partial spin-off of its stake in Universal Music Group in 2021. The ticketing and festival businesses form part of its Vivendi Village subsidiary, which posted revenues of €238 million last year – up from €102m the previous year – and reported sales of €81m for the first six months of the 2023 financial year.

See Tickets is is “projected to experience high single-digit growth over the next few years”, with other suitors anticipated to join the race

AEG, which operates venues such as The O2 and Eventim Apollo in London, Crypto.com Arena in Los Angeles and the Mercedes-Benz Arena in Berlin, already owns ticketing business AXS, which it co-founded 12 years ago and took full control of in 2019. AEG recently agreed to sell its stake in venue management behemoth ASM Global as part of the latter’s acquisition by Legends.

CTS, meanwhile, owns ticketing companies in 21 markets and became majority shareholder in France Billet, the largest ticketing company in France, in the summer. In its latest financial results, the firm posted ticketing revenue of €459.3m (up 36% year-on-year) for the first nine months of 2023 and is projecting group revenue in excess of €2 billion for the year as a whole.

See opened its first US base in Los Angeles in 2014 and operates more than 15 offices worldwide including in London, New York, Nashville, Paris, Amsterdam and Zurich. In 2022, the firm sold more than 39 million tickets for 8,000 clients including the UK’s Glastonbury festival, Tomorrowland in Belgium and AmericanaFest in Nashville, US, with sales expected to top 43m this year.

Its executive committee comprises five members: Rob Wilmshurst (Group CEO), Boris Patronoff (Group COO), Leanne Lipscombe (Group CFO), Marijke van den Bosch (CEO Benelux and Germany) and Laurent de Cerner (CEO France). The company is “projected to experience high single-digit growth over the next few years”, according to FT sources, with other suitors still expected to join the bidding war.

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French-headquartered media giant Vivendi is reportedly exploring the sale of See Tickets along with its festival division.

According to Sky News, the conglomerate is working with advisers on potentially offloading parts of its Vivendi Village subsidiary, which also includes 11 festivals such as the UK’s Love Supreme and Kite, as well as Garorock in France.

Sources indicate that Vivendi, which announced the partial spin-off of its stake in Universal Music Group in 2021, has concluded its ticketing and festival businesses were not of sufficient scale to compete with the likes of Live Nation and AEG.

The remainder of Vivendi Village’s operations, including Paris’ L’Olympia venue and a cinema chain in Africa, are not believed to be part of the strategic review process, which is expected to begin imminently. However, insiders caution that the sales of the two businesses were not inevitable, with no final decision yet made.

A Vivendi spokesperson has declined to comment on the report.

“The business is mainly driven by ticketing, which represents 70% of overall revenues and is experiencing strong growth”

See Tickets, which was acquired by Vivendi in 2011, opened its first US base in Los Angeles in 2014 and operates more than 15 offices worldwide including in London, New York, Nashville, Paris, Amsterdam and Zurich. Its executive committee comprises five members: Rob Wilmshurst (Group CEO), Boris Patronoff (Group COO), Leanne Lipscombe (Group CFO), Marijke van den Bosch (CEO Benelux and Germany) and Laurent de Cerner (CEO France).

In 2022, the firm sold more than 39 million tickets for 8,000 clients including the UK’s Glastonbury festival, Tomorrowland in Belgium and AmericanaFest in Nashville, US.

Vivendi Village posted revenues of €238 million last year – up from €102m the previous year – and reported sales of €81m for the first six months of the 2023 financial year.

“The business is mainly driven by ticketing, which represents 70% of overall revenues and is experiencing strong growth, due in particular to the expansion of its customer base to new market segments beyond its traditional activities in the field of music,” said Vivendi in response to the financial results.

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Lebanon-born artist Mika has raised over €1 million from his livestreamed charity concert in aid of those affected by last month’s devastating explosion in his home city.

I Love Beirut was livestreamed across four time zones from Mika’s YouTube channel on 19 September and featured performances from himself, Kylie, Rufus Wainwright, Mashrou Leila and others.

More than 100 countries bought tickets to the benefit event – the most recorded on a Ticketmaster event – and 48 countries donated.

The benefit concert raised €1m euros from ticket sales, sponsors and members of the public donating via GoFundMe. The money will be split between the Lebanese Red Cross and Save the Children. Donations can still be made here.

“Thank you to everyone around the world who bought a ticket to the stream, donated to GoFundMe and our sponsors for helping us to raise such an amazing amount of money,” says Mika.

“I also wanted to say how amazing this statement of solidarity for the situation in Beirut has been, with tickets for the stream selling to over 120 different countries around the world.

“This has been a project that was born out of and made possible by love, and a huge amount of collaboration with friends and many new friends made in the process.”

More than 100 countries bought tickets to the benefit event – the most recorded on a Ticketmaster event

Georges Kettaneh, secretary general of the Lebanese Red Cross, said: “We are extremely grateful for this generous support and for the solidarity that has been expressed. These funds will help the Lebanese Red Cross to continue to support Beirut at this time of great need.

“The people of Beirut face a long road to recovery, with this generosity and the continued support we have received from around the globe, we can continue to stand alongside them for as long we are needed.”

Kevin Watkins, CEO of Save the Children UK said: “Save the Children is working around the clock to provide vital support to children and families in Lebanon whose lives have been devastated by the explosion in Beirut. A heartfelt thank you to everyone who has come together to raise this incredible total.

“All donations will be going towards our emergency response efforts in Lebanon, which include weatherproofing damaged homes, supporting vulnerable and displaced families with food and cash grants, and providing ongoing psychological support for children and families.”

Mika will also perform at United for Lebanon, a charity event organised by French media conglomerate, Vivendi.

The benefit will take place tomorrow (1 October) in L’Olympia in Paris, featuring artists from Vivendi subsidiary Universal Music Group, including Sting, Clara Luciani, Florent Pagny, Melody Gardot, Soolking and Grand Corps Sick.

The concert will be broadcast live on France 2 and France Inter and a small audience will be present, in compliance with Covid regulations.

Fundraisers For Beirut and The Sound of Beirut took place earlier this month.

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The main publicly listed live entertainment companies have added US$5.75 billion – or nearly $1bn a month – to their collective value since the worst of the Covid-19-induced stock-market crash in March, new analysis reveals.

Combining the market capitalisations of Live Nation, CTS Eventim, DEAG, Time for Fun and Eventbrite, as well as a relevant percentage of Vivendi’s business, shows the six companies were worth nearly $6bn more on 21 September than 20 March, in spite of the six-month-and-counting shutdown of nearly all live experiences.

As in previous IQ coverage of live music’s (pre-coronavirus) stock-market performance, Live Nation Entertainment – the world’s biggest live entertainment business – is the biggest mover, growing its market cap by nearly 60% in the period analysed.

Worth $7.29bn on 20 March, with a share price of $33.97, Live Nation (LYV)’s market cap stood at $11.55bn six months later, with most financial analysts confident the concert behemoth will bounce back strongly post-pandemic. As of 9 September, of the 12 firms covering Live Nation stock, seven have assigned it a ‘buy’ rating, one a ‘strong buy’ and one a ‘hold’, with none recommending a ‘sell’.

While the recovery of Live Nation – which has made an estimated $600m in savings this year, believed to include widespread redundancies globally – is impressive, five of the six businesses included have rebounded strongly over the last six months, with only DEAG shares having declined in price as of 21 September.

Berlin-based Deustche Entertainment AG (LOUD), which trades on Frankfurt’s Xetra exchange, had around $11 million (€9.4m) shaved off its market cap after the value of its stocks fell from €3.48 on 20 March to exactly €3 on 21 September. As of the latter date, DEAG’s market capitalisation was €58.9m ($68.9m), down around 14% on €68.3m ($79.9m) six months previous.

Live Nation is the biggest mover, growing its market cap by nearly 60% in the period analysed

Yet DEAG stock, too, is strongly rated by market watchers: analysts’ ratings similarly lean heavily towards a ‘buy’, with even the most pessimistic financial observers giving the company’s stock a price target of €3.50 in the short term (while noting that DEAG should “return to pre-corona levels” by 2022).

Of the other four businesses, another German company, public pan-European concert and ticketing giant CTS Eventim, was the stand-out performer, growing its market cap more than $1bn by adding nearly €10 to its share price.

Compared to 20 March, when its share price was €31.78 and market cap €3.05bn, CTS Eventim (EVD) shares traded at €41.14 six months later, giving the company a market capitalisation of €3.95bn at the time of writing.

Brazil’s Time for Fun/T4F Entertainment (SHOW3) – the largest promoter in South America – has seen its value increase 42%, from R$131m ($23.8m) to R$186.1m ($33.8m), while US-based self-service and club ticketing specialist Eventbrite (EB) is up 61%, growing its market cap from $649.2m to $1.06bn in the same period.

French media conglomerate Vivendi (VIV), meanwhile, has seen its market cap rise from an estimated €20.9bn in March to €26.38bn on 21 September. The company’s Vivendi Village unit – which incorporates its live (Olympia Production, U Live, festivals and venues in France and Africa) and ticketing (See Tickets, Starticket, Paylogic) businesses – accounts for some 0.34% of the business: €26m in revenue, of €7.58bn total, per its H1 2020 report.

Many outside observers agree live music’s recovery will be complete by 2022

While it should be noted the industry is far from back to its pre-Covid-19 value – Live Nation stocks were once worth nearly $75, while Eventim shares hit a high of €60 in January – the rally bodes well for a sector often described as the first to close and last to reopen, and which has been hit particularly hard by the impact of the virus.

Additionally, the live music industry welcomed two newly public businesses – MSG Entertainment, spun off from the Madison Square Garden Company, and Warner Music Live/Umbrella Artists owner Warner Music Group, which floated in April and June, respectively – in the same period, and which would likely have pushed the $5.75bn figure even higher were those companies trading in March.

With so-called second lockdowns looming in many territories, it remains unclear how global markets will perform in the months ahead, as well as the effects, positive or otherwise, any volatility will have on live music stocks.

One thing, however, many outside observers seem to agree on is that live music’s recovery will be complete by 2022.

As IQ revealed earlier this month, financial consulting firm PricewaterhouseCoopers (PwC) is predicting a complete recovery by 2022, with the value of the live music market (public and private) set to reach $29.3bn – over $300m more than 2019’s $28.97bn – that year, while investment bank Goldman Sachs is similarly bullish, with its head of European media research, Lisa Yang, also heralding a return to normal in 2022.

Read PwC’s live music growth predictions here:

Live music down 64% this year – but will rebound in 2021

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See Tickets has acquired Starticket, a major player in Switzerland, bolstering the UK-based ticket seller’s presence on the continent and expanding its footprint to a ninth European market.

Zurich-based Starticket – formerly owned by TX Group, Switzerland’s largest media company – sells more than five million tickets annually, and is the country’s second-biggest concert ticketing platform, behind CTS Eventim’s Ticketcorner, according to the International Ticketing Yearbook 2019. The acquisition by See comes nearly three years after a merger between Starticket and Ticketcorner was blocked by Swiss competition regulators.

As a result of the merger, Vivendi-owned See sells nearly 30m tickets a year for 10,000 clients, including Glastonbury Festival, the Château de Versailles, L’Olympia in Paris, Garorock and Tomorrowland (pictured). Its presence in the US means it is active in ten markets worldwide.

Samuel Hügli, head of technology and ventures at TX Group (formerly Tamedia) says: “With this acquisition by See Tickets, Starticket will become part of a leading international ticketing service provider that uses cutting-edge technology and has a huge network with numerous partnerships.

“We have long admired Starticket as a stand-out independent ticketing company in Switzerland”

“This will strengthen Starticket in international competition and allow See Tickets to benefit from Starticket’s many years of experience in the Swiss market.”

“I am delighted to welcome Starticket and its experienced management team into our group,” adds See Tickets’ global CEO, Rob Wilmshurst. “We have long admired Starticket as a stand-out independent ticketing company in Switzerland, and I know that together we will be able to further develop the quality and range of services to our clients and customers in the country.”

According to PwC, Switzerland is Europe’s eighth-biggest live music market, worth US$370 million in ticket sales in 2019, and the 13th-biggest globally. Read IQ’s latest Switzerland market report here:

Switzerland market report: positive signs

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Vivendi and a consortium led by Tencent, the Chinese tech and entertainment giant, have finalised the consortium’s acquisition of a 10% stake in Universal Music Group (UMG), concluding talks than began last summer.

The acquisition values UMG at €30 billion, with members of the consortium including Tencent Holdings Ltd, Tencent Music (often referred to as ‘China’s Spotify’) and “certain global financial investors”, according to a joint statement.

The consortium has the option to purchase an additional up-to-10% stake in UMG at the same ‘enterprise value’ (the value of the whole company; ie €30bn) before 15 January 2021, while Tencent Music also has the option to acquire a minority stake in UMG’s business in so-called ‘Greater China’ (the PRC, including Hong Kong and Macau, plus Taiwan).

Pending regulators’ approvals, the transaction is expected to complete by the end of June 2020.

“Vivendi is very happy with the arrival of Tencent and its co-investors. They will enable UMG to further develop in the Asian market,” reads a statement from UMG’s French parent company, Vivendi.

“Together with Vivendi, Tencent and TME will work to broaden the opportunities for artists and to enrich experiences for music fans”

Tencent adds: “Tencent and the Consortium members are excited to support UMG’s growth through this investment.

“Together with Vivendi, Tencent and TME [Tencent Music Entertainment] will work to broaden the opportunities for artists and to enrich experiences for music fans, further promoting a thriving music and entertainment industry.”

The acquisition of a 10% share of UMG also gives Tencent a stake in U-Live, Universal Music’s live music arm, whose UK festival stable includes Love Supreme, the Long Road, Sundown and Nocturne.

UMG grew its revenues 17.5% in the nine months ending September 2019, the most recently available financial results, to over €5 billion (€1.8bn in Q3), bolstered by strong merchandise revenues and the success of artists including Ariana Grande, Taylor Swift and Billie Eilish.

Universal reports merchandise boom in 2019

Tencent – which, in addition to its music interests, leads the world in social media and videogaming – turned over CN¥312.7 billion (€40.2bn) in 2018, and employs nearly 60,000 people.

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The start of a new year and, perhaps more significantly, a new decade is fast approaching – and while many may be thinking ahead to New Year’s Eve plans and well-meaning 2020 resolutions, IQ is casting its mind back to the most pivotal industry moments of the last ten years.

Following on from a few tough years, 2013 was the year the live industry began to sparkle again, thanks to the improvement of several key economies and more favourable weather conditions.

The main issue for the 2013 business, in fact, appeared to be the abundance of tours, which somewhat outnumbered the amount of resources available to handle them.

2013 was also the year when a new generation began to shine, with the likes of Miley Cyrus, Justin Bieber and One Direction performing well on year-end charts, indicating that the future of live was certainly looking bright.

2013 in numbers

In 2013, the top 20 worldwide tours raked in a combined US$2.4 billion, up 24% on the $2bn generated the year before, according to Pollstar.

Bon Jovi once again made the top spot, surpassing their winning 2010 total by almost $60 million and achieving the highest year-end tour total of the year, grossing $259.5m from 2.7m tickets with the Because We Can tour.

Beyoncé’s The Mrs Carter Show came in second with a total gross of $188.6m, followed by Pink’s The Truth About Love with $170.6m. Justin Bieber came hot on the Pink’s heels at fourth, grossing $169m with his second concert tour Believe. Bruce Springsteen and the E Street Band earned $145.4m, adding to the $210.2m grossed in 2012.

Newcomers also made their mark in 2013, with One Direction scraping into the top ten global tours for the first time with the Take Me Home tour ($114) and Bruno Mars making his first top twenty appearance with Moonshine Jungle tour.

2013 in brief

January
Seatwave founder and chief exec Joe Cohen exits the UK-based company, claiming that the secondary ticketing business is in great shape.

Kylie Minogue and her manager of 25 years, Terry Blamey, split, as the artist announces her intention to concentrate on her acting career. Minogue is now represented by Jay-Z’s management company Roc Nation, who also look after Rihanna, MIA and The Ting Tings.

February
Universal sells EMI’s Parlophone label group to Warner Music for an estimated £480m ($764m). The deal effectively means that three record companies now dominate the global market – Universal, Sony and Warner.

March
SFX Entertainment receives an undisclosed financial boost from advertising giant WPP, which counts agencies such as JWT; Grey; and Young & Rubicam in its portfolio. The deal gives SFX a powerful ally as it looks to ramp up its EDM empire.

AEG’s deal to take over the management of Wembley Arena is referred to the Competition Commission in the UK after an investigation by the Office of Fair Trading, which is concerned that AEG has too big an influence over live entertainment in the capital.

Wembley Stadium in 2013 © Wikiolo/Wikimedia Commons (CC BY-SA 3.0) 

April
Princess Diana’s brother, Earl Spencer, becomes arguably the most renowned ticket tout in the world, when he resells tickets for his debenture box at the Royal Albert Hall.

New York-based agency Paradigm launches a record label, Big Picnic Records, which boss Marty Diamond intends to use to “support the development of new artists.”

May
Ticketmaster files a lawsuit against a New York man who they allege uses bots to buy as many as 200,000 tickets a day, before the general public can.

Pink smashes her record of 17 shows at Melbourne’s Rod Laver Arena by booking an 18th date on her The Truth About Love tour. The Australian leg includes 46 shows and is expected to sell more than 500,000 tickets.

June
The promoter and stage supplier are charged in relation to a fatal stage collapse, which claimed the life of Radiohead drum tech Scott Johnson in Toronto’s Downsview Park last year.

Live Nation and Insomniac Events confirm rumours of a creative partnership, although the latter’s chief, Pasquale Rotella states Insomniac will remain independent.

Insomniac promotes EDM festival franchise Electric Daisy Carnival © Global Stomping/Flickr (CC BY-SA 2.0)

July
Vince Power sells a major shareholding in Benicàssim Festival to SJM Concerts and Denis Desmond in a deal designed to assure the future of the popular Spanish event. Power will remain MD of the event which this year featured Arctic Monkeys, Queens of the Stone Age, Beady Eye, and The Killers.

Vivendi rejects an $8.5bn offer for Universal Music Group from Japanese telecoms giant SoftBank. It’s thought the increasing importance of music services in the mobile market prompted the unsolicited offer.

August
Lady Gaga and Madonna face prosecution in Russia for allegedly performing without proper visas. Both artists are accused of breaking Russia’s new gay propaganda laws, which make it illegal to promote homosexuality to minors.

Agency IMG Worldwide is put up for sale by private equity firm, Forstmann Little & Co, with analysts expecting a price tag of about $2bn.

September
Michael Gudinski’s Frontier Touring agrees a strategic partnership with dance promoter Future Music Festival to present the touring event, which visits five Australian cities and Malaysia next March.

Irving Azoff partners with The Madison Square Garden Company to create Azoff MSG Entertainment. In return for a $125m investment, MSG will own a 50% stake in a company, which will include artist management, TV production, live event branding and digital marketing divisions.

Benicàssim Festival © Jiquesan/Wikimedia Commons (CC BY-SA 4.0)

October
The jury in the $1.5bn case brought by Michael Jackson’s family against AEG finds that although AEG did employ Dr Conrad Murray, the company was not liable for his negligence.

Austin City Limits organisers are forced to cancel the final day of the US music festival when heavy rain and thunderstorms cause flooding.

November
Scooter Braun, manager of Justin Bieber, is pulling together a management conglomerate thanks to backing from Waddell & Reed Financial. The New York Times says Braun is in talks with several potential partners including Drake and his management team, Shania Twain and Troy Carter (ex Lady Gaga manager).

Live Nation confirms it is negotiating terms to acquire the management companies of U2 and Madonna. The deal to buy Paul McGuinness’s Principle Management and Guy Oseary’s Maverick could cost about $30m with Oseary taking over management of both operations.

December
Talent agency William Morris Endeavour acquires IMG Worldwide in a $2.3bn deal backed by private equity group Silver Lake.

SFX Entertainment pays $16.2m for a 75% stake in Dutch- based ticketing operation Paylogic, which counts 2,000 clients across its offices in Groningen, Amsterdam, Berlin and Antwerp.

Claude Nobs, Montreux Jazz founder (1936-2013) © Yvan Hausmann @ MJF/Yvanhausman (CC BY-SA 3.0)

Who we lost

Notable industry deaths in 2013 include Claude Nobs, Montreux Jazz Festival founder and GM, 76; Modern World founder Henning Tögel, 58; Cecil Womack, The Valentinos and Womack & Womack singer, aged 65; Live Nation Denmark CEO Flemming Schmidt, 63; German promoter Fritz Rau, 83; Edwin Shirley, founder of Edwin Shirley Trucking and Edwin Shirley Staging, 65; Danish live music impresario Arne Worsøe, 72; Velvet Underground singer and guitarist and solo artist Lou Reed, 71.

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