BEVERLY HILLS, CA (CelebrityAccess) – Global entertainment and live music company Live Nation (LN) has acquired a controlling interest in Hong Kong’s Clockenflap festival, the company announced Wednesday (March 22). The financial details of the deal were not released.
The acquisition includes the annual festival and Clockenflap Presents, its live music touring division. It does not include the ticket platform Ticketflap, which will remain independent. The announcement followed the first-ever sold-out Clockenflap, which occurred earlier this month after a years-long hiatus.
Founded by Jay Forster, Mike Hill, and Justin Sweeting in 2008, Clockenflap expanded from its original location at Cyberport to accommodate thousands of festival attendees at the West Kowloon Cultural District. The fest moved to Central Harbourfront in 2016 due to the expansion of West Kowloon.
Due to ongoing political protests in Hong Kong, the festival was canceled in 2019, a week before it was set to begin. Then, the pandemic hit, and it remained on hiatus until coming back this month.
In an exclusive interview with Hong Kong FP before the acquisition announcement, co-founder Sweeting and Hill asserted their continued autonomy over Clockenflap despite LN’s majority state, saying the deal would allow for expansion in the city and across Asia. In addition, Hill said that the agreement did not mandate that LN’s ticketing platform, Ticketmaster, would be used in Hong Kong.
Hill and Sweeting also stated that Clockenflap was on the forefront of safety, with team members having formally studied crowd science. “It’s meticulously, carefully planned,” said Hill.
In the announcement release, Roger Field, President of Live Nation Asia Pacific, said: “Partnering with Clockenflap further demonstrates that Live Nation is committed to bringing world-class festivals and live entertainment experiences to our Hong Kong fans … through Live Nation’s global network we will enhance and grow the Clockenflap brand and deliver new and exciting live opportunities to the region.”
