Live Nation, the world's biggest live music promoter, has finally given in to the astounding success of EDM and its progeny. Last Wednesday, the media Goliath bought Cream Holdings, the British promoter behind the super popular Creamfields festivals, some of the most popular dance music festivals in Europe.
Live Nation's move marks the already fairly evident take-over of festival culture by EDM. Why does this matter? Well first of all, Live Nation is bigger than you might know. They don't just put on a few charitable concerts every year... they also own Ticketmaster, the online ticket-sale maven that pretty much holds a comfortable monopoly on ticket sales. With their reach and industry power, this move will herald a new direction for the company.
Michael Rapino, CEO of Live nation, released a statement of intent: "With this acquisition, Live Nation further establishes its position in electronic music and expands its concert platform... We intend to launch new festivals in key markets in North America, Europe and Southeast Asia.” Sounds like good news to us.
While there still haven't been any announcements, stay tuned for more information on this developing story. Hopefully we will see a bunch of new festivals coming our way in the months and years to come.