Live Nation Switzerland acquires Europe’s leading hip-hop event
Global live-event market leader Live Nation has acquired a majority stake in Openair Frauenfeld, Europe’s biggest hip-hop festival. The gathering is also one of Switzerland’s biggest festivals, and started its life as a rock and pop festival. It’s hosted names like Bob Dylan, David Bowie, The Rolling Stones and REM, and last week, it welcomed 170,000 eager music fans to its 14th event. This marks Live Nation’s seventh such acquisition of the year, the last of which was March’s buy in to the Isle of Wight Festival in the UK.
Live Nation’s share price is up an incredible 33% so far this year
SOURCE: Yahoo Finance
Andre Lieberberg, Live Nation GSA (Germany, Switzerland, and Austria), said:
“We are incredibly proud and excited to partner with Openair Frauenfeld, which sees us add one of the world’s finest festival brands to our portfolio. The partnership will give media and our brand partners a unique platform for the Swiss and German-speaking markets. We look forward to working with First Event AG to build and grow this unique festival brand, offering an unparallelled festival experience to thousands of fans.”
The festival’s founder and chairman of First Event, Wolfgang Sahli, said: “We believe joining forces with the world’s leading live entertainment company, Live Nation, has given us a strong and innovative partner with which to continue to grow and evolve Openair Frauenfeld. We are truly looking forward to our partnership.”
Dominion holds Live Nation in its Global Trends Luxury Fund.
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