Warner Music Group has sold Italian live promotion company Vivo Concerti. The firm has been acquired by its MD, Clemente Zard (pictured).
Warner Music Italy acquired Vivo, formerly called Indipendente, in 2011, setting it up as an internal division.
Warner’s decision to offload the live company echoes similar recent moves made in Germany – where Warner sold promoter Neuland Concerts last year as part of another Management Buy Out – and in France, where the major handed Nous Productions to Live Nation in 2016.
Vivo will continue to work closely with Warner Music Italy and promote many of its artists’ tours in the country.
Marco Alboni, Chairman and CEO, Warner Music Italy, says: “It’s been a great pleasure to work with everyone at Vivo over the last six years.
“The company is well placed to be a key player in the live market and I want to wish everyone there all the best going forward.
“This move will enable us to focus on our core business of A&R, content creation and providing tailored services to existing and new artists.”
“This move will enable us to focus on our core business of A&R, content creation and providing tailored services to existing and new artists.”
Marco Alboni, Warner Music Italy
Clemente Zard added: “I would like to thank Marco and the whole team at Warner Music Italy for their support as we’ve gone through this process. I look forward to working with them in the future as Vivo pursues its own destiny in the touring business. I think we have a great future as a player in Italy’s exciting live sector.”
Vivo Concerti has in recent years produced tours for artists such as Arctic Monkeys, Florence and the Machine, Franz Ferdinand, Radiohead, Sigur Rós and Subsonica, as well as working with Warner Music artists including Bruno Mars, David Guetta, Linkin Park, Muse, Paolo Nutini, The Black Keys and twenty one pilots.Music Business Worldwide
