Live Nation acquires legendary Rock In Rio festival!
Live Nation Entertainment, the world’s leading live entertainment company, is expanding its presence in South America by acquiring a stake in Rock in Rio, which in 2017 was the 2nd highest grossing festival in all of the world, as well as the largest music festival in South America, attended by more than 700,000 fans from 62 different countries.
The legendary festival currently operates biennial events in Rio de Janeiro, Brazil and Lisbon, Portugal, each which span two long weekends of artist performances and fan experiences. Rock in Rio began in 1985, and has hosted 18 editions with over 1,700 artists and 9 million attendees and engaging more than 11 million followers on social media. The festival has also been live broadcasted and streamed to more than 1 billion viewers worldwide. Over the years, Rock in Rio’s headlining acts have included iconic artists like Queen, the Rolling Stones, Guns N’ Roses, Iron Maiden, Metallica, Slipknot, Foo Fighters, Avenged Sevenfold, Linkin Park, Coldplay and many more.
“Rock in Rio is a marquee event which set the standard for festivals in South America. Organizational team have grown Rock in Rio to become a truly global event and the preeminent festival in the emerging live events market in South America. We look forward to integrating their industry expertise into the Live Nation business,” says President and CEO of Live Nation Entertainment, Michael Rapino.
With more than 100 festivals around the world, Live Nation is home to the world’s largest collection of festivals. The company has experienced a healthy demand for festivals in the region, with its partner C3 Presents expanding the Lollapalooza franchise across Brazil, Chile, and Argentina. Live Nation also continues to see a growing demand for concerts throughout Latin America, with more global tours traveling to, and selling out shows, in the region each year. The company has been actively focused on building its profile and scope in the region through a local business development and tour booking teams.
“We are delighted to bring together the world’s biggest music festival with the largest entertainment company on the planet. The partnership will generate a number of synergies that will enable the realization of even greater ambitions for Rock in Rio. We are two companies with a united global vision and the ability to achieve big dreams,” comments festival founder and President Roberto Medina.
Medina and his team will remain key stakeholders of Rock in Rio, continuing to manage all aspects of production as well as consulting across the business.