Live music giant AEG Presents and Avex Entertainment, the largest music company in Japan, have formed AEGX, a joint partnership which the companies say will ‘create unique international opportunities in both artist development and live entertainment’.
According to concert promoter AEG Presents, the JV will provide Avex with access to AEG Presents’ worldwide portfolio of venues, festivals, and global touring partnerships to help expand the profile of its artists and brand across a global audience.
Likewise, AEG Presents will be able to use Avex’s resources in Japan to connect global artists with Japanese audiences, while simultaneously continuing the company’s live-event expansion in the market.
The initial focus points for the new venture will be the co-promotion of AEG artists in Japan, the development of music festivals and venues in the market, and the promotion of global tours for Asian artists, including both artists signed to Avex and non-Avex artists.
Formed in 1988, Avex Entertainment started as an independent dance music label and has evolved to become the largest entertainment company in Japan.
The company’s business spans across music, artist and talent management, concerts, events, merchandising, fanclubs, anime, game, and a music and video subscription service.
“This is really a perfect example of synergies being scaled for the benefit of global artist development, which is at the core of what we do.”
Jay Marciano, AEG Presents
“This is really a perfect example of synergies being scaled for the benefit of global artist development, which is at the core of what we do,” said Jay Marciano, Chairman and CEO, AEG Presents.
“Partnering with Avex to launch AEGX gives both Avex and AEG Presents a path to create real opportunities for musicians who increasingly see the world as a borderless global community. I can’t wait to see what we all do together.”
“AEGX will serve music fans around the world by contributing to the global development of western artists, while also expanding the reach of Japanese artists beyond its borders.”
Katsumi Kuroiwa, Avex
Katsumi Kuroiwa, President and CEO of Avex, added: “We are very excited to announce the launch of AEGX with AEG Presents.
“Our companies both share the same goal with this new partnership: AEGX will serve music fans around the world by contributing to the global development of western artists, while also expanding the reach of Japanese artists beyond its borders.
“The COVID-19 pandemic reminds us of the positive power and limitless potential of music and entertainment. We are thrilled to take this stride forward together and look forward to the future.”Music Business Worldwide