Two of Australia’s most iconic festivals have been sold, marking some major changes for our national music scene.
One of America's biggest concert promoters and ticketing agents, Live Nation, has bought out a majority of Secret Sounds, the company behind a bunch of Aussie festivals including Splendour in the Grass and Falls Festival. They now own a majority stake (51%) meaning these festivals have basically become the US company’s flagship events down under.
Over in the US, Live Nation is already responsible for some awesome events including Lollapalooza and Bonnaroo.
So, what does this mean for our festivals? We won’t know just yet, but fans are already predicting the change could bring a larger variety of international acts to Oz.
Live Nation President and CEO, Michael Rapino, said: “Splendour in the Grass and Falls are the two most iconic festivals in Australia… We look forward to partnering with them to find new ways to grow our live event footprint across Australia.”
We can’t wait to see what 2017 will bring!