Live Nation Expands Its Presence in Latin America

Live Nation has upped its stake in Mexico’s largest concert promoter, OCESA, acquiring an additional 24% to push its share in the company to 75%.

The numbers:

• Live Nation initially acquired a 51% stake in OCESA in December 2021, paying $444 million.

• Digital Music News puts the cost of the new 24% acquisition at around $646 million.

• The remaining 25% stake in OCESA is owned by Corporación Interamericana de Entretenimiento (CIE).

• Alejandro Soberón, Founder & CEO of both Grupo CIE and OCESA, will continue to lead OCESA.

Mexico’s growth:

• Mexico’s rise to the world’s third largest live music market is, according to Digital Music News, due to an increase in “in-person concerts and streaming segments.”

• OCESA dominates the sector, promoting thousands of events and overseeing a diverse portfolio comprising concert venues, ticketing and artist management.

What they said:

• Alejandro Soberón: “Live Nation and Michael Rapino have been ideal partners. The combination of our market knowledge and Live Nation’s expertise have come together to create more opportunities for artists to perform in Mexico and for fans to enjoy these shows.”