Live Nation boosts Asian presence with acquisition of One Production in Singapore
Live Nation is expanding in Singapore, a key Asian market, with a controlling-stake acquisition in one of the region’s leading concert promoters, One Production. The acquisition follows Live Nation’s most successful ever year in Singapore, as the company continues to capitalise on growing demand for western pop and R&B genres throughout Asia. This acquisition could be an important step for the company in providing access to Chinese and Korean pop phenomena, which are also growing vastly in popularity.
Live Nation’s share price has appreciated by 11% year to date
Source: Yahoo Finance
In a press release from the company, Live Nation said that the Asian artists One Production worked with “complement the North American and European artists Live Nation Singapore has already been bringing to the region.” Alan Ridgeway, Live Nation’s chairman of Asia Pacific, added: “By joining forces with ONE Production, we are creating the leading international concert promotion business in Singapore. We look forward to amplifying performance opportunities for artists and diversifying concert offerings for fans by welcoming the local expertise of the ONE Production team.”
In 2018, One Production put on shows featuring some of the east’s most popular homegrown start, including Mayday, Eason Chan, Got7, Twice, Super Junior, EXO, and One OK Rock.
One Production’s managing director, Ngiam Kwang Hwa, said: “Over the last few years, ONE Production has enjoyed tremendous success working with Taiwanese, Korean, Chinese, and Japanese artists. We already know the Live Nation team very well and are excited by all the opportunities this new venture generates for our team and our artists.”
Dominion holds Live Nation in its Global Trends Luxury Fund.
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