Kustom Entertainment Sheds Healthcare Arm to Focus on Ticketing

Kustom Entertainment has sold its 51% ownership in Nobility Healthcare LLC to focus on its “rapidly growing” live event production business and its proprietary online ticketing platform.

Why it matters:

• By offloading its healthcare assets, Kustom intends to “aggressively” expand its footprint in the live event management and online ticketing platform business.

• Central to this strategy is the expansion of its primary live event, the Country Stampede Music Festival, which has in the past been headlined by Taylor Swift, Morgan Wallen and Eric Church.

• The company says it intends to use the festival’s “proven model” as a launchpad to scale its event production and ticketing services worldwide.

• The next edition is scheduled for June 25-27, and features headliners Rascal Flatts.

Rebrand:

• Kustom was previously known as Digital Ally before rebranding to reflect its new focus.

What they said:

• Stanton E. Ross, CEO of Kustom Entertainment, Inc: “This divestiture of Nobility Healthcare allows us to sharpen our focus and allocate our resources toward the massive opportunity we see in the entertainment sector. We are moving from a regional focus with the Country Stampede Music Festival to a nationwide strategy. By leveraging our Kustom Entertainment and TicketSmarter platforms, we are ready to pursue a dominant share of the $100 billion live event market worldwide.”