Live Nation has acquired the concerts and entertainment division of Thailand-based promoter and media company TERO (TERO C&E).
The deal, says Live Nation, signals the company’s “further growth within Thailand” via a “commitment to developing local Thai talent, while also continuing to bring the biggest international acts to the region.”
This acquisition expands on a joint venture between Live Nation and TERO launched in 2015, where Live Nation Tero was created to promote international concerts and festivals by Western acts, while bringing regional acts to Thailand.
Live Nation says that through the acquisition of the TERO C&E division, Live Nation Tero establishes itself as a “holistic business that will cover a vast international and domestic music roster as well as family entertainment”.
Since it was established in 1998, TERO C&E has specialized in domestic touring, family entertainment, exhibitions, musicals, and artist management within Thailand.
Live Nation says its new deal brings in a “respected and established domestic promoter” in a key market, and expands Live Nation’s reach to “more fans within the region.”
Live Nation also notes that the acquisition “deepens” its strategy to offer new events to brand partners across the region, which include Marriot Hotels, Mercedes, Toyota, Pepsi, Budweiser, and Samsung.
“TERO C&E has it all.”
Roger Field, Live Nation Asia Pacific
Roger Field, President Live Nation Asia Pacific, said: “TERO C&E has it all – local expertise delivering outstanding experiences to fans, and career growth for international and local artists.
“Our deepened partnership with TERO will expand our presence not only in Thailand but across the region, and we are looking forward to bringing an ever-growing and incredible roster of domestic and international talent to fans, connecting them with the magic of live.”
“We are excited by the growth opportunities of the entertainment business under the one company.”
Neil Thompson, Live Nation Tero
Neil Thompson, CEO of Live Nation Tero and DMD of Tero Entertainment PLC, added: “We are excited by the growth opportunities of the entertainment business under the one company, this will not only increase the number of leading acts coming to perform in Thailand but now will give local artists the opportunity to work with a global company to manage their live touring here in Thailand, the APAC region and the rest of the world.”
“Our partnership with Live Nation has grown over the years and we have seen many benefits from this union for international artists.”
Brian Marcar, Tero Entertainment
Brian Marcar, Managing Director of Tero Entertainment PLC, said: “Our partnership with Live Nation has grown over the years and we have seen many benefits from this union for international artists.
“Our vision is to extend and grow the partnership to enable the same benefits to local talent so they too can have the opportunity to develop internationally, making this hugely beneficial to both the local fans and the local artists.”
As well as expanding its presence in Thailand, Live Nation recently launched in the Philippines via the acquisition of Manilla-based promoter, Music Management International (MMI).
MMI was established over 20 years ago and is today a prominent promoter in the Philippines, and has promoted concerts in the territory for artists such as Madonna, Coldplay, U2, Harry Styles and Bruno Mars.
MMI is led by Rhiza Pascua, who was named Managing Director Live Nation Philippines in April.Music Business Worldwide