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Live Nation buys Cream Holdings (Creamfields)
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| BobbyV |
Interesting
http://mediadecoder.blogs.nytimes.c...of-creamfields/
| quote: | | In a deal that demonstrates how important electronic dance music has become to the concert industry, Live Nation Entertainment has bought Cream Holdings, the British promoter behind Creamfields and one of the biggest names in European dance festivals. In an announcement Wednesday morning, Live Nation � the world�s biggest live music company, whose divisions include Ticketmaster � also said that James Barton, Cream�s founder, would become the president of its Live Nation Electronic Music division, and that the company planned more dance events. �With this acquisition, Live Nation further establishes its position in electronic music and expands its concert platform,� Michael Rapino, the company�s chief executive, said in a statement. �We intend to launch new festivals in key markets in North America, Europe and Southeast Asia.� Terms of the deal were not disclosed. In its most recent filings with British regulators, Cream Holdings reported that for the year that ended in January 2011, it had almost $7.8 million in assets. The company, which started in 1998, puts on festivals in Britain and Spain and also has a record division. According to Live Nation�s announcement, Cream expects to sell 350,000 tickets to its concerts this year. While consistently popular overseas, electronic dance music � or techno, or electronica, or whatever you want to call it � has long been considered marginal in the United States, with a mixed history of success in the mainstream. In 2001, for example, Creamfields tried to expand to the United States with events in Las Vegas and on Long Island , but both were canceled. Over the last couple of years, however, the genre has become one of music�s biggest success stories, with major companies like Live Nation and A.E.G. Live putting on more dance events and the network of independent promoters behind many of the biggest events being wooed by Wall Street investors. Depending on how those promoters feel about selling their companies, there could be more such deals this year. Next weekend, one of the biggest music festivals in the United States, Electric Daisy Carnival, which has sold hundreds of thousands of tickets in Los Angeles, Las Vegas and elsewhere, is coming to the MetLife Stadium in New Jersey for three shows. |
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| Calabria |
| live nation was interested in talking to insomniac as well, pasquale wanted nothing of it though |
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| BobbyV |
| $25 Live Nation-makes-your-life-so-much-easier convenience for a $100 ticket. GREAT! |
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| drEamer |
| quote: | Originally posted by Calabria
live nation was interested in talking to insomniac as well, pasquale wanted nothing of it though |
ive heard that...and more....will see how it ends up |
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| Nerologic |
| quote: | Originally posted by Calabria
live nation was interested in talking to insomniac as well, pasquale wanted nothing of it though |
Who said Pasquale is still the man "in charge" there?
That issue hasn't been resolved yet. |
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| 72hrpartyanimal |
| the end of true EDM is near |
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| the_jerk |
| quote: | Originally posted by 72hrpartyanimal
the end of true EDM is near |
In a lot of ways that's true. I think it will just go underground again. The mainstream stuff will continue to get watered down with more artists from other genres hopping on the bandwagon. Chris Brown and Rihanna have created a model that others (unfortunately) will follow. And there is too much money to be made for DJ's to turn them down.
The best time was a few years back, where the audience was big enough to support decent clubs while receiving almost zero time on the radio. |
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| Nerologic |
| quote: | Originally posted by the_jerk
In a lot of ways that's true. I think it will just go underground again. The mainstream stuff will continue to get watered down with more artists from other genres hopping on the bandwagon. Chris Brown and Rihanna have created a model that others (unfortunately) will follow. And there is too much money to be made for DJ's to turn them down.
The best time was a few years back, where the audience was big enough to support decent clubs while receiving almost zero time on the radio. |
x2
I give it 5 years MAX until the EDM bubble explodes.
By then things will finally go back to normal :) |
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| alan |
i think this is a good thing.
competition leads to better product and better pricing for consumers, although as a promoter, DJ's talent fees will increase.
but to customers, instead of just insomniac being alone, more supply means less demand and lower pricing point/better product. |
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| 72hrpartyanimal |
| quote: | Originally posted by alan
i think this is a good thing.
competition leads to better product and better pricing for consumers, although as a promoter, DJ's talent fees will increase.
but to customers, instead of just insomniac being alone, more supply means less demand and lower pricing point/better product. |
this i do agree with. it gives a little competition specifically to Insomniac who do have tight grasp with all the agencies. |
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