Live Nation Entertainment is expanding its presence in South America by acquiring a stake in Rock In Rio, which in 2017 was the second highest-grossing festival in all of the world, as well as the largest music festival in South America, attended by more than 700,000 fans from 62 different countries.
The legendary festival currently operates biennial events in Rio de Janeiro, Brazil and Lisbon, Portugal, each which span two long weekends of artist performances and fan experiences. Rock In Rio began in 1985, and has hosted 18 editions with over 1,700 artists and 9 million attendees and engaging more than 11 million followers on social media. The festival has also been live broadcasted and streamed to more than one billion viewers worldwide.
“We are delighted to bring together the world’s biggest music festival with the largest entertainment company on the planet,” said Roberto Medina, Rock In Rio’s founder and president. “The partnership will generate a number of synergies that will enable the realization of even greater ambitions for Rock In Rio. We are two companies with a united global vision and the ability to achieve big dreams.”
Medina and his team will remain key stakeholders of Rock In Rio, continuing to manage all aspects of production as well as consulting across the business.