Live Nation continued its long campaign of growth through international expansion, announcing its strategic acquisition of the Concerts and Entertainment division of TERO (TERO C&E) in Thailand. The deal builds upon a joint venture between TERO and Live Nation that was launched in 2015 with the birth of Live Nation Tero.
“TERO C&E has it all – local expertise delivering outstanding experiences to fans, and career growth for international and local artists,” says Roger Field, President of Live Nation Asia Pacific. “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.”
“Our partnership with Live Nation has grown over the years and we have seen many benefits from this union for international artists,” says Brian Marcar, Managing Director of Tero Entertainment PLC. “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.”
Since the 2015 launch of Live Nation Tero, the venture has sought to promote western artists touring in Thailand, as well as bringing in regional acts such as leading K-Pop groups from neighboring countries. That likely will continue through the new structure, with the TERO C&E venture bringing a vast roster of international and domestic talent under the same umbrella. Tero C&E was founded in 1998 and has been the market leader in domestic touring and family entertainment within Thailand, including a lengthy partnership with the Disney on Ice franchise.
“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,” says Neil Thompson, CEO of Live Nation Tero.
Already the largest promoter in the world, Live Nation has been expanding through the takeover of promotions in international markets of late. In April, Live Nation launched Live Nation Phillipines by buying the countries existing largest promoter. Last year, it closed on the purchase of OCESA, the largest promoter in the Latin American market, and the second largest promoter in the world.
The full announcement of the Live Nation Tero deal is available at Live Nation’s website.
