(CelebrityAccess MediaWire) — Knitting Factory Entertainment has finalized a deal to acquire a majority interest in Bravo Entertainment, a leading independent regional concert and tour promotion company.
This new partnership creates a formidable growth-oriented alliance for presenting a broad spectrum of emerging talent to an under-served national audience. Bravo operates across 19 states and owns The Big Easy Concert House venues in Boise, ID, and Spokane, WA. KFE’s investment will leverage Bravo’s expertise in under-served markets with the development of several new venues each year in additional secondary markets.
The new venues will range in capacity from 1000 to 2000 seats, filling a void for venues of that size outside major markets.
“It is clear that there is an incredible hunger for new music in America that is not being met by the traditional players in the industry and that is a great opportunity for us,” said KFE’s chief executive officer, Jared Hoffman.
“Our commitment to support Bravo’s growth meshes perfectly with our mission to promote emerging music and provide our media and branded entertainment partners with access to real-world, off-line audiences beyond East and West Coast,” said Hoffman. “With Bravo, we have just gained access to everything in between.”
Under Hoffman’s leadership, KFE has focused on developing strategic relationships with major media portals and content distributors to expand national recognition of KFE’s role as a primary arbiter and filter of ‘what’s next’ in music.
“We are creating a combined entity that is significantly more valuable to artists and audiences,” said Bravo founder and president, Paul Thornton. “The Knitting Factory brings leadership in emerging artists, a world class brand and clout in strategic media and advertising partnerships. Bravo Entertainment brings expertise in both venue development and the touring and promotion of national caliber artists in every size of venue. Together the possibilities to reshape this industry seem endless.”
The Boise-based Bravo Entertainment will operate as a distinct business unit under the continued leadership of Thornton. Knitting Factory Entertainment presents more than 6,000 live music performances each year at its New York and Los Angeles venues.