EDM Power Players 2014: Pasquale Rotella, Founder/CEO of Insomniac Events

More than a year ago, Live Nation Entertainment finalized a deal to buy a piece of Insomniac Events, the premier EDM festival brand that CEO Rotella, 39, a visionary in the electronic sector, built during the last 20 years. The deal was valued by some to be as high as $80 million for about a 50 percent stake, though most observers peg the value at about $50 million. "His passion for fans and music drives Insomniac to innovate and deliver the most immersive music experiences in the world," says Live Nation CEO Michael Rapino. "He has raised the bar for Live Nation's entire festival business." Describing the joint venture as a "creative partnership," Rotella said last June at the EDM Biz conference that the partnership would allow Live Nation to access Insomniac's loyal and ever-growing fan base while providing Insomniac access to Live Nation's massive infrastructure, capital and scale.

Insomniac's flagship event is Las Vegas' Electric Daisy Carnival, the largest EDM festival in the world and a cultural touch point for a generation. A critical component of the deal with Live Nation was Rotella maintaining his autonomy in running Insomniac. The deal largely is viewed as an investment by Live Nation as opposed to an acquisition. "We still run the show," said Rotella earlier in 2014. "But I definitely asked for help on managing the budget, because I've been terrible with budgets. I love what I do and always want more, more, more. We're still delivering more than we did last year, but it's all being managed more efficiently."

Number: In 2014 Insomniac will produce nine festivals with a combined attendance of more than 2 million in three countries: Mexico, the United Kingdom and the United States.


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