Live Nation Entertainment has expanded its presence in South America by acquiring a stake in Rock in Rio.
Last year, the event was the second highest grossing festival globally, as well as the largest music festival in South America, attended by more than 700,000 music fans.
The brand currently operates biennial events in Rio de Janeiro, Brazil and Lisbon, Portugal, which span two 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.
Over the years, headlining acts have included Queen, Prince, Guns N’ Roses, Rihanna, Elton John, Metallica, Stevie Wonder, Coldplay and Beyoncé.
Rock in Rio’s founder and President Roberto 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.
Michael Rapino, President and CEO, Live Nation Entertainment, said: “Rock in Rio is a marquee event which set the standard for festivals in South America.
“Roberto and his 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.”
michael rapino, live nation
“Roberto and his 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.”
Medina added: “We are delighted to bring together the world’s biggest music festival with the largest entertainment company on the planet.
“This partnership will generate a number of synergies that will enable the realization of even greater ambitions for Rock in Rio.”
roberto medina, rock in rio
“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.”
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