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Electric Factory Sold To AEG; Famed Philly Club Will Get New Name, Logo Under Bowery Presents
Ilya S. Savenok/Getty Images for Heineken – Nas plays the Electric Factory
Nas performs at Heineken Red Star Access Philadelphia featuring Nas, Wale and Q-Tip at The Electric Factory Oct. 13, 2012.
Famed Philadelphia nightclub the Electric Factory has been sold to AEG, with the announcement saying the iconic name and Ben Franklin face as its logo will be retired and a new name announced soon.
“In the spirit of new beginnings, Adam and I wish AEG great success with our baby as well as Live Nation with their opening of The Met Philadelphia later this year,” Electric Factory Concerts head Larry Magid said in a statement announcing he and his partner Adam Spivak have sold Electric Factory.
There’s already a contest to rename the venue, with a website called “North Seventh – Formerly Electric Factory” and a Bowery Presents (AEG Presents affiliate) Twitter page already active and advertising shows including H.E.R. and Clutch.
An Electric Factory representative told Pollstar that staff remains intact except for one person pursuing other opportunities. “Keeping the staff was informally part of the deal and we thank AEG for that,” the rep said. Bowery Presents had been talent buyer for the venue for the past few years.
<blockquote class=”twitter-tweet” data-lang=”en”><p lang=”en” dir=”ltr”> Philly Fam – we need your help. Visit <a href=”https://t.co/ZyavdXBaBv”>https://t.co/ZyavdXBaBv</a> for more! <a href=”https://t.co/QBjTVwSauQ”>pic.twitter.com/QBjTVwSauQ</a></p>— North Seventh formerly Electric Factory (@NorthSeventh) <a href=”https://twitter.com/NorthSeventh/status/1039894675321233409?ref_src=twsrc%5Etfw”>September 12, 2018</a></blockquote>
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“Fifty years ago we blazed a path and we feel very comfortable that the tradition of great music in one of the greatest music cities in the world will be well represented and will continue for many years to come. Thank you for all your support through the years!” Magid’s statement reads.
– Electric Factory
Electric Factory has hosted legendary artists, going back to Jimi Hendrix, Janis Joplin, Frank Zappa, Van Morrison, Cream, Rod Stewart, B.B. King, The Grateful Dead, Neil Young, Bruce Springsteen, Prince, Bob Dylan, Adele, Radiohead, Lady Gaga, David Bowie, Amy Winehouse, and many others too long to list.
“This is not a retirement call but a continuation of the past eight years as Larry Magid Entertainment Group producing national and worldwide tours and Broadway shows in addition to our concert business,” continued Magid, known for producing concerts including Live Aid and Live 8, Billy Crystal’s record-breaking 700 Sundays and “Beautiful – The Carole King Musical among so many others.
“We would like to thank the hundreds of thousands of fans who have attended the over 2,500 shows at Electric Factory from its original location at 22nd and Arch from 1968-1970 to its rebirth in 1995 at 7th and Willow.”
“A special thanks to all the employees, old and new, that have worked at the Factory over the years and to the great acts who have graced our stage, it’s been our privilege to work with you.”
The announcement says Spivak continues his various ventures in the music business as partner in the music venue Underground Arts and partner in Bonfire Entertainment that has ongoing relationships with Parx Casino, Mount Airy Casino, Ardmore Music Hall and Milkboy and others.
Earlier this year Magid and his wife Mickey made a seven-figure pledge for scholarships bearing the names of Billy Crystal, Bruce Springsteen and Bette Midler, among others.
Recent boxoffice reports submitted from the Electric Factory include Greta Van Fleet May 12, which sold out at 2,700 tickets and grossed $94,500, and three shows by Dark Star Orchestra Dec. 29-31, which sold 3,677 and grossed $138,701.