Live Nation Entertainment broadens its global presence and entertainment potential for fans with the purchase of stocks in another concert promoter.
Today the entertainment company announced its purchase of the controlling interest stocks of South African company Big Concerts International Proprietary Limited, otherwise known as Big Concerts. Despite the giant buyout, the executive powers of Big Concerts will remain the same as Attie van Wyk as Chairman and Justin van Wyk as Chief Executive Officer.
With the acquisition of Big Concerts, Live Nation has now entered the South African market and expanded their presence to 38 countries. The president of international and emerging markets of Live Nation explains the reasoning behind the decision, “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”. By taking advantage of the rise of artist interest in South Africa, Live Nation can work together with Big Concerts and expand the entertainment market there. This will also be giving fans in South Africa more opportunities to see their idols live. Even the chairman of Big Concerts, Attie, responded about what a great opportunity the partnership will be for both companies and for the country.
Within the past five years the live entertainment sector of South Africa has grown exponentially. With world-class stadiums and new arenas being made, South Africa is the largest economy in Africa and provides huge growth for the entertainment industry along with bettering its own infrastructure and economy.
The South African concert promoter has helped with tours of artists like U2, Michael Jackson, Lady Gaga, and many more. Just for this year the country will be home to tours of artists Lionel Richie, Mariah Carey, Josh Groban, Iron Maiden, and more.
