EDM gold-rush: U.S. giant Live Nation buys Creamfields
Thu 10th May, 2012 News 2330 viewsin
In further proof that dance music has become big business in America, U.S. entertainment powerhouse Live Nation Entertainment yesterday acquired Cream Holdings Ltd, owner of Creamfields festivals around the world. As reported by Billboard.biz, Live Nation Electronic Music has launched with Cream founder and CEO James Barton assuming the role of president. The pairing of a seminal UK dance brand with a cashed-up U.S. juggernaut means plans for expansion are afoot. New Creamfields festivals will be launched in “key markets in North America, Europe, and Southeast Asia”, according to Live Nation’s CEO Michael Rapino.
The flagship Creamfields in the English countryside remains the biggest on its roster, with 100,000 punters expected to roll up this year. The weekender stretches from 24 to 26 August, with an extensive line-up that features Eric Prydz, David Guetta, Deadmau5, Axwell, Ferry Corsten, Paul van Dyk and many others across a wide spread of genres.
The Australian leg of the festival, presented in collaboration with Totem Onelove, of course just came to a close over the weekend, and other established stops on its international itinerary include Peru, Colombia and Argentina. It will be interesting to see how a North American outpost of Creamfields will compete with homegrown brands like Ultra Music Festival and Electric Daisy Carnival, but Live Nation is certainly going where the cash is. “We are committed to being a leader in electronic music,” adds Live Nation’s Rapino.