Live Nation is expanding its presence in Latin America by acquiring a majority stake in Colombian promoter brand Páramo Presenta.
Páramo Presenta is a leader in the Colombian music scene, known for the country’s largest music festival Estereo Picnic.
The event draws in over 100,000 people each year and hosts huge international headliners like SOFI TUKKER, Drake, Rosalía, Fred again.., The Chemical Brothers, Jamie XX, and more.
Baum Festival and Knotfest, also in Bogotá, Colombia, are a part of their festival portfolio as well.
Michael Rapino, President and CEO of Live Nation Entertainment, said about the new partnership, “Páramo is fresh off of a record year and their team are some of the best in the business. Colombia is a booming market, and we’re looking forward to working with our new partners at Páramo and longtime partners OCESA as we continue our expansion across Latin America.”
Gabriel García, CEO of Páramo Presenta, expanded, saying, “After being raised in an era with very few shows in the country, and being part of an exponential rise of live music, today we celebrate this historic merge with Live Nation… with the firm conviction that it will propel us to new heights and provide even more unforgettable moments between artists and fans, becoming a key part of the country’s growth and strengthening our market to be increasingly competitive on the global stage of live entertainment.”
Featured image credit camilobaezphoto, mava.villamizar, davidmicolta, & missangie_ph, second image credit manu_uribe_foto & camilobaezphoto
