LIVE NATION SET TO ACQUIRE MAJORITY RIGHTS OF GOVERNOR’S BALL
According to Billboard Magazine, Live Nation is reportedly in the final stages of acquiring the majority rights toFounders Entertainment – the promotion company responsible for Governor’s Ball. Acting as a beloved treasure of New York natives, Governor’s Ball draws in around 100,000 attendees each year, reaching an all-time high 150,000 in 2015.
This bold investment by Live Nation should yield significant results, as this year’s festival boasts a massive lineup featuring superstar headliners such as Kanye West, The Killers, and The Strokes. Although it may seem like a one-sided proposition, Founders has their motives too, mainly resulting from some intimidating competition.Goldenvoice and AEG Live have burst onto the New York music scene with some serious firepower, as they recently announced the lineup of Panorama music festival – which takes place only a month after Governor’s Ball. An unforeseen war for ticket sales may be on the horizon, as it will become increasingly difficult for frugal festival-goers to decide where they should spend their hard-earned money.
In a classic showdown of reputation and glamor, it will be interesting to see which festival ends up garnering more sales revenue. By joining forces with Live Nation, however, Founders Entertainment has definitely done its best to preserve the incomparable success of Governor’s Ball.