Live Nation Sweden Acquires SPG Live
March 5, 2015 at 1:40 PM (PT)
LIVE NATION SWEDEN has acquired a majority stake in STUREPLANSGRUPPEN LIVE (SPG LIVE), a major concert promotor that operates one of the country’s most popular festivals in the NORDIG REGION. The interest in SPG LIVE is part of LIVE NATION ENTERTAINMENT’s global strategy to expand and develop within the EDM genre, and for growth in the NORDIC REGION.
SPG LIVE is behind many successful events, including SUMMERBURST FESTIVAL in STOCKHOLM and GOTHENBURG, one of the most popular festivals in the NORDIC REGION. This year, the festival, now in its sixth year, has confirmed artists such as AVICII, AXWELL Λ INGROSSO and AFROJACK. SPG LIVE will also promote SWEDISH superstar DJ ALESSO’s first arena show ever in his homeland, as he plays at ERICSSON GLOBE on APRIL 25th.
STUREGPLANSGRUPPEN CEO VIMAL KOVAC commented: "STUREPLANSGRUPPEN’s investment in festivals and concerts have been great fun, successful and profitable. In five years, SUMMERBURST FESTIVAL has established itself as the leading festival in SWEDEN, with over 100,000 visitors in 2014, and we already know that this year’s festival will beat all previous records.”
SPG LIVE Festival GM ANDERS BOSTROM added: “We are incredibly proud of what we have accomplished with SPG LIVE, and at the same time very happy and excited about what’s about to come. As part of LIVE NATION and its organization around production, marketing, PR, sponsorship and their long experience of big events, we will be able to lift our business another level while retaining what have made our festivals and concerts so great.”
LIVE NATIONS EUROPE CONCERTS President JOHN REID commtned: “Since we own and operate a large number of big and successful EDM festivals globally — ELECTRIC DAISY CARNIVAL, HARD FEST, HOLY SHIP! and CREAMFIELDS — it is both exciting and natural that we acquire SPG LIVE, especially given that many of the biggest artists in this segment internationally are from SWEDEN.”
In connection with the acquisition, LIVE NATION and STUREPLANSGRUPPEN will enter into a cooperation agreement with regards to food and beverage operations for certain LIVE NATION SWEDEN events.