LOS ANGELES and STOCKHOLM, Nov. 22, 2016 /PRNewswire/ -- Live Nation Entertainment, Inc. (NYSE: LYV) today announced it has acquired a majority stake in Sweden Rock Festival, one of Sweden's most successful and longest running festivals. The team behind Sweden Rock Festival will continue to curate, manage and produce the event, now with access to Live Nation's unparalleled festival portfolio and resources.
With Sweden Rock Festival, Live Nation now has six festivals in Sweden, also including: The Island Festival, Popaganda, Stockholm Music & Arts, Summerburst, and Way Out West. Sweden Rock Festival stands out from Live Nation's other festivals in the country as the only event celebrating rock music.
Diversity has been a key factor for Live Nation as it has grown the largest festival portfolio in the world, encompassing more than 80 global festivals, including the landmark Governors Ball, Lollapalooza, Bonnaroo, Austin City Limits, Electric Daisy Carnival, T in the Park, Reading, Leeds, Rock Werchter and many more. Live Nation currently operates over half of the top 25 festivals around the world. This acquisition secures Sweden Rock Festival's leading position in the Nordic market, while also creating growth opportunities.
"From a unique musical culture to a dedicated fan following, Sweden Rock has all of the qualities we look for in a stand out festival," said John Reid, President Concerts, Live Nation Europe. "It is a great addition to Live Nation's global festival platform."
"The Sweden Rock team has done a fantastic job creating one of Sweden's best and most loved festivals, and we are excited to be able to work with them and evolve the festival even further," said Thomas Johansson, Chairman International Music, Live Nation.
Sweden Rock Festival started back in 1992 in the small town of Norje outside of Sölvesborg in southern Sweden and has since then grown to be one of the biggest festivals in Sweden. Over the years, it has hosted bands like Black Sabbath, Kiss, Guns N' Roses, Mötley Crüe, Aerosmith, Volbeat, Ghost as well as many other emerging and classic rock acts.
"We are very pleased with this deal," explains Mats Natvig, CEO of Sweden Rock Festival. "For more than 20 years, we have continuously developed the content, service and security at Sweden Rock Festival. Joining forces with Live Nation will give us the very best conditions to further develop our festival for the future."
About Live Nation Entertainment:
Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, Live Nation Media & Sponsorship and Artist Nation Management. For additional information, visit www.livenationentertainment.com.
About Sweden Rock Festival:
Sweden Rock Festival celebrated their 25-Year Anniversary this past summer. Every year the festival attracts 33 000 visitors to Sölvesborg in Southern Sweden, where about 80 artists perform on five stages during four days. The company is also active within e-commerce, sales of branded liquors and external events. For more information, please visit swedenrock.com
SOURCE Live Nation Entertainment