Global, UK Radio and Television Leader, Acquires Six Music Fests, Including Field Day
Global, a leading British media and entertainment company, has expanded its fast-growing live music business with the acquisition of six U.K. festivals, including London-based Field Day and SouthWestFour.
Other acquisitions include Cornwall beach festival Boardmasters and the touring Rewind Festival -- which like Field Day and SouthWestFour were previously owned by independent promoters Impresario -- alongside boutique greenfield events Y Not and Oxfordshire-based Truck festival, previously owned by Count of Ten. Terms were not revealed.
To further bolster its presence in the live market, Global has also increased its stake in London-based events company Broadwick Live, which counts the award-winning Festival No. 6 in Portmeirion, North Wales, and annual ski-festival Snowbombing in Mayrhofen, Austria, among its portfolio. Broadwick Live additionally holds stakes in number of other popular boutique festivals, including Standon Calling, Glass Butter Beach and Lost Village.
Following the equity deal, Global and Broadwick Live say they will partner on taking their existing roster of festivals to new global markets backed by branding deals. The first fruits of that partnership takes place April 06-10 next year when the first Snowbombing festival in North America takes place at Sun Peaks in British Columbia, sponsored by Coors Light.
“Working with Global has helped us to realise our ambitions and then some,” commented Broadwick Live CEO Gareth Cooper. “We have a strong partner that offers us unbelievable support and shares our goal to build an international festivals business, starting with our first venture in North America next year. What we have announced today is just the beginning.”
“We’ve had an incredible first year working together, working hard to bring in some of Europe’s leading music festivals as well as some of the most innovative and well-loved up-and-coming festivals,” added Sam Bush, director of Global’s live & touring division. “We have a shared ambition to grow the portfolio and we look forward to doing this with Gareth and the team at Broadwick Live as well as the founders and managers of the festivals we have acquired.”
Formed in 2007 by Ashley Tabor, Global has grown to become the U.K.’s largest commercial radio company with its portfolio of national stations, including Heart, Capital, Classic FM, Smooth, Radio X and Gold, drawing a weekly audience of close to 25 million listeners. In addition to its television business, the London-based company also has a dedicated 360 entertainment arm, spanning music publishing, management and touring, with Carly Rae Jepsen, Pet Shop Boys, The Vamps, David Gray and Nathaniel Rateliff & The Night Sweats on its current live roster. Its publishing arm boasts Ellie Goulding, Corinne Bailey Rae, Jungle, The Script and LMFAO among its clients.