In The Mix has reported that the world’s largest touring company Live Nation has plans to spend an estimated US$1 Billion on EDM (Electronic Dance Music) via various investments over the coming year. The New York Times posted an article outlining Live Nation executive Robert F.X. Silverman’s intentions to purchase numerous EDM associated companies, with approximately 50 different companies being considered for purchase so far.
Live Nation recently acquired a Louisiana-based rave company and UK Festival Creamfields. It also appears that Live Nation is interested in Australian company Totem OneLove, who are responsible for Stereosonic.
Totem OneLove’s Richie McNeill said he doesn’t think that being bought out by Live Nation would necessarily change the way Totem OneLove operates.
“There’s always been outside interest in Australia… Live Nation is definitely looking to invest….[but] I don’t think anything has to change if someone buys your company and keeps you there”, McNeill said.
Silverman feels Live Nation’s considerable resources will make for greater festival and event experiences for fans of EDM.
“I’m also confident that we will create a better experience for the fans”, said Silverman.