Live Nation Entertainment is accellerating its purchase of an additional 24% stake in its already controlling share in Mexico’s leading concert promoter, OCESA Entretenimiento. The acquisition, from Corporación Interamericana de Entretenimiento (CIE) in a deal valued at roughly $646 million (12 billion pesos), will boost Live Nation’s total holdings in OCESA to 75%.
The companies announced the agreement Tuesday, with closing expected by the end of August pending CIE shareholder approval.
OCESA founder Alejandro Soberón will remain chief executive through 2032, while CIE retains a 25% interest. The amended terms also push back any put/call options on CIE’s remaining stake until 2032.
“The combination of our market knowledge and Live Nation’s expertise has created more opportunities for artists to perform in Mexico and for fans to enjoy these shows,” Soberón said in a statement.
Live Nation president and CEO Michael Rapino called the partnership “incredibly successful,” noting that concert attendance in Mexico has more than tripled since 2019, making the country Live Nation’s third-largest market worldwide. His company acquired a 51% controlling stake in OCESA, which had been the globe’s third-largest concert promotion business worldwide at that time, in 2021.
In 2024, Oak View Group announced its own partnership with OCESA.
Why the Bigger Bet on Mexico?
Mexico’s live-music boom is being fueled by rising disposable income among younger consumers and a post-pandemic surge in global touring. Live Nation and OCESA have capitalized by routing more international acts through the market and expanding festival lineups.
OCESA promoted seven sold-out Shakira shows at Mexico City’s Estadio GNP Seguros earlier this year, grossing $46.6 million from nearly 400,000 fans. Electric Daisy Carnival, also produced by OCESA, drew more than 300,000 attendees to Autódromo Hermanos Rodríguez.
Strategic Upside for Live Nation
- Ticketing synergies: OCESA’s Ticketmaster Mexico business, folded into Live Nation’s Ticketmaster division after the initial 2021 purchase, provides a ready-made platform for expanding dynamic pricing and verified-fan tools.
- Regional footprint: The deal follows Live Nation’s May acquisition of Dominican Republic promoter SD Concerts, extending its reach across Latin America.
- Content pipeline: Greater control over OCESA’s venues—including Foro Sol, Palacio de los Deportes and Mexico City’s new Estadio GNP Seguros—gives Live Nation added leverage when routing stadium and arena tours.
Financial Impact
CIE said it will use proceeds from the sale to reduce debt and bolster working capital. The company first sold 11% of OCESA to Live Nation in 2021, when the U.S. promoter paid $416 million for a 51% controlling stake—an agreement that faced pandemic-related delays before closing in December of that year.
Live Nation’s deeper move into Mexico underscores a broader shift of the global touring business toward emerging growth markets. With venues modernizing and international artists seeking new revenue streams, Mexico’s ascent offers a template for Latin America’s potential.
With the latest transaction, Live Nation tightens its grip on a market that has quickly become a cornerstone of its international growth strategy—and signals that the big bet on Latin America’s live-entertainment future is just getting started.
