IPEM Cannes 2024 – The Daily Spin – January, 25th
The shifting role of LPs was the overarching theme for the morning session of Day 2, at the 10th edition of IPEM in Cannes. After a full day of yoga,…
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Let festivities commence
Live and direct. As consumer demand rises for live entertainment experiences – just look at the crowds at Taylor Swift’s Eras tour – KKR has just announced the acquisition of Superstruct Entertainment.
The global buyout firm has agreed to buy one of Europe’s leading live entertainment groups from Providence Equity Partners. It is another example of private equity plugging in to Media & Entertainment space, which has also seen increased investment in music rights and royalties. As part of the deal, Providence has the option to invest $250 million in to Superstruct, which under its stewardship has enjoyed strong organic growth; it now operates over 80 music festivals and live events in Europe and Australia including Boardmasters and Sónar. The new partnership is music to the ears of the Superstruct team. Could KKR’s deal will spur other PE groups to dance to the same beat and seek out further opportunities in the live entertainment space?
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