LOS ANGELES (CelebrityAccess) — In a move that will help the company bolster their EDM offerings and expand their Nordic footprint, Live Nation Sweden has acquired a majority stake in Stureplansgruppen Live.
SPG Live produces a number of events in the region, including Summerburst Festival in Stockholm and Gothenburg. During its five years, this festival has consistently grown and is now one of the most popular festivals in the Nordic region.
This year, Summerburst Festival has confirmed artists such as Avicii, Axwell & Ingrosso and Afrojack. SPG Live will also promote Swedish DJ Alesso’s first arena show in Sweden, as he plays at Ericsson Globe on April 25.
In connection with the acquisition, Live Nation and Stureplansgruppen will also enter into a cooperation agreement with regards to food and beverage operations for certain Live Nation Sweden’s events.
John Reid, President, Live Nation Europe Concerts: “Since we own and operate a large number of big and successful EDM festivals globally — Electric Daisy Carnival, Hard Fest, Holy Ship! and Creamfields — it is both exciting and natural that we acquire SPG Live, especially given that many of the biggest artists in this segment internationally are from Sweden.” – Staff Writers