Live Nation Gets Controlling Stake In Chile’s DG Medios
Already the world’s largest live entertainment company, Live Nation announced Dec. 13 the acquisition of a majority stake in Chilean promoter DG Medios.
Founded by Carlos Geniso, the Santiago-based DG Medios boasts of more than 330,000 tickets sold in 2018, and over the years has promoted the likes of U2, The Rolling Stones, Paul McCartney and Justin Bieber and has co-promoted a number of big ticket shows with Live Nation, including Bon Jovi, Bruno Mars, Depeche Mode and Harry Styles. Geniso will remain at the head of DG Medios’ operations.
“Teaming up with Live Nation will give us access to resources that will be instrumental in growing our substantial roster of shows even further,” said Geniso. “The DG Medios team and I are excited to provide even more memorable experiences for fans.”
The deal follows several other Live Nation acquisitions in Latin America: OCESA in Mexico, DF Entertainment in Argentina and Brazil’s Rock In Rio.
“We are thrilled to be in business with legendary Chilean promoter Carlos Geniso,” Michael Rapino, president and CEO of Live Nation Entertainment, said in a statement. “DG Medios is another important step in expanding our footprint across Latin America.”
Latin music continues to grow as a larger and larger force within in the industry, as in 2019 Move Concerts partnered with Loud And Live, and Cardenas Marketing Network announced it will own and operate the new 24,000-capacity Arena Bogotá in Colombia, scheduled to open in 2020.
“I think we’re living in one of the greatest moments in history for Latin artists, having a platform they have never had before,” Live Nation’s Hans Schafer recently told Pollstar. “It’s a bit overwhelming to see the amount of new acts that come out on a weekly basis, but it’s exciting.”