Live Nation Entertainment – one of the biggest live concert promoters in the world – has acquired a controlling stake of South Africa’s Big Concerts.<\/p>\n
Big Concerts is South Africa’s biggest live concert promoter, having produced over 1,800 shows with more than 400 international artists.<\/p>\n
The group is currently promoting the South African tours of big names in music such as Mariah Carey, Josh Groban, Lionel Richie and Iron Maiden, who are all expected to tour the country this year.<\/p>\n
Live Nation has hosted over 23,000 thousand events across the globe, with 2,700 artists – including big names such as Beyonce, Madonna, Rihanna, Demi Lovato and many others.<\/p>\n
According to Live Nation CEO, Michael Rapino, the entry into the South African market through Big Concerts will bring “live entertainment at a scale to a new continent”.<\/p>\n
While not stated explicitly by the companies, the buyout should make it easier for international tours to make a stop in South Africa.<\/p>\n
Since South Africa hosted the FIFA World Cup in 2010, there has been a noticeable increase in the number of artists visiting the country with many acts now playing three or four cities, the group said.<\/p>\n
In the third quarter of 2015, Live Nation reported year on year revenue growth of 10% to $2.8 billion, with record growth in show attendance.<\/p>\n
According to the group, over 48 million people attended its shows in 2015 to October.<\/p>\n