(CelebrityAccess) — Sony Music Masterworks announced it has formed a new partnership with veteran artist manager and tour producer Jonathan Shank with an eye towards creating family-oriented tour concepts.
As part of the deal, Sony Masterworks will acquire a majority stake in Shank’s Terrapin Station Entertainment and will collaborate in the curation of live productions from Terrapin, including licensed tours and events adapted from popular multi-platform family brands.
As part of the agreement, Shank will lead the joint venture with Mark Cavell, President of Sony Music Masterworks.
Additionally, Masterworks and Shank will also collaborate to grow Terrapin’s artist management business and provide opportunities for career advancement for artist-clients.
Shank, who launched Terrapin earlier this year after leaving a senior role at Red Light Management, has overseen a series of successful tours, including licensed events such as Disney Junior Holiday Party, LOL Remix Live in 360, Peppa Pig Live, The Fresh Beat Band.
“With the support of Mark and our staff, there’s a tremendous opportunity to build Terrapin into one of the most competitive artist management and production companies in the industry. We are also sympathetic to the state of live entertainment right now. We want to be at the forefront of helping bring live experiences back to the world and shine light on the ability of new entities to build a foundation and thrive,” said Shank in a statement announcing the partnership.
“As a company, great entrepreneurs excite us and Jonathan is just that! They help us grow and we can help them grow with proactive support. Jonathan is extremely passionate and committed, and he has a natural connection with artists and creatives. We’re thrilled to work closely with him and the Terrapin team to further develop our opportunities in the live space when the touring business returns and to expand our business to now include artist management for the first time,” added Cavell.