Music Festival World Watches as Live Nation buys C3 Presents and AEG Live buys Bumbershoot

In one of the biggest moves in the event world in 2014, the two largest companies in the entertainment venue management, artist management and music world made major moves to expand their ownership of major music festivals.
Live Nation purchased C3 events, the producers of South by Southwwest, Austin City Limits and Lollapalooza among others. Meanwhile AEG live, spotting a long running festival Bumbershoot in Seattle, now in its 42nd year, to rescue the event from debts and agreed to become the producer of the music side of this annual event at the Seattle Center.
Industry watchers will be watching both closely as they determine if the days of the one event festival producer comes to an end, with the continued financial pressures. Meanwhile Superfly remains independent and produces Bonnaroo and co-produces Outside Lands. Both of these events have worked with GF Strategies to help them look at their revenue plans around food and beverage. STay tuned.