Live Nation will acquire concert promoter Spaceland Presents and its L.A. music venues, the Echo + Echoplex and The Regent.
The crowd at Taking Back Tuesday, a DJ-driven club night for pop-punk and emo at Echoplex in Echo Park. Echoplex is one of several properties acquired by Live Nation this year.
By acquiring smaller venues, Live Nation can get involved with artists earlier in their careers, said Ron Bension, president of Live Nation Clubs & Theaters, a division that focuses on venues that range from 250 to 3,000 in capacity. He declined to disclose the price of the deal. Spaceland Presents President Mitchell Frank will hold the same title at Live Nation and his company’s headcount of 170 employees is expected to remain the same.
“We want to have the opportunity to grow with an artist,” Frank said, adding that he expects to see more consolidation in the industry. Frank says that he doesn’t foresee any negative effect on Spaceland Presents. If anything, joining Live Nation will help his venues and events improve their productions for concertgoers, he said.He said prices are based on artist fees, and he doesn’t see them escalating at his company. The average ticket price for a concert at the Echo and Echoplex is roughly $15 to $16, he said.
Live Nation and its arch rival AEG dominate the concert promotion business. AEG, an affiliate of the Anschutz Corp. that owns the Staples Center and L.A. Live, lists more than 150 event venues in the world, including stadiums and theaters that it owns, manages, consults or is affiliated with. In 2018, Live Nation said it owns, operates, leases or has exclusive booking rights or equity in 237 venues globally.
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