Huge news for two of Australia’s biggest music festivals has emerged this morning with the announcement that event promotions and entertainment giant Live Nation have bought the controlling stake in Secret Sounds – parent company of both Splendour In The Grass and Falls Festival.
Huge news for the Aussie festival circuit. Splendour and Falls have been bought out by international entertainment giant Live Nation.
This will be the first time Live Nation have made strides to get their fingers in the Aussie live music pie. Their current roster currently includes mammoth international festivals such as Governors Ball, Lollapalooza, Bonnaroo, Austin City Limits, Electric Daisy Carnival, Rock Werchter, and Reading and Leeds festivals. But their 51% acquisition of Secret Sounds will be their first foray into Australian festivals.
The move has said to be a direct grab at Splendour and Falls, which Live Nation CEO Michael Rapino has praised alongside Secret Sounds founders Paul Piticco and Jess Ducruo:
“Splendour in the Grass and Falls are the two most iconic festivals in Australia. Jess and Paul have created events that attract the biggest artists in the world but still feel uniquely Australian. We look forward to partnering with them to find new ways to grow our live event footprint across Australia.”
Piticco and Ducruo have also made statements assuring that the festival is in good hands and that the deal will only ensure future growth for company:
“We started Secret Sounds with the sole mission of introducing Australians to the best artists, events and music possible, and Live Nation is the perfect partner to help us take this goal to the next level. With their support we can continue to curate the lineups that fans love, while also experimenting with new exciting ways for fans to experience live music.”
The acquisition from Live Nation also includes Secret Sounds’ touring, sponsorship, PR, artist management, and agency arms. However, it doesn’t include their label affiliates Create Control and Dew Process – two huge Aussie labels.
It’s a big move for a mammoth company like Live Nation to make a grab for the Australian festival market. We can only hope the only changes will be a positive.
