Live Nation Entertainment Inc.
07/06/2022 | Press release | Distributed by Public on 07/05/2022 20:16
Live Nation Furthers Growth In Thailand With Acquisition Of TERO Concerts And Entertainment
Live Nation today announced its strategic acquisition of the Concerts and Entertainment division of TERO (TERO C&E) based in Thailand, signaling further growth within Thailand through a commitment to developing local Thai talent, while also continuing to bring the biggest international acts to the region.
This acquisition builds upon the joint venture between Live Nation and TERO launched in 2015, where Live Nation Tero was born to promote international concerts and festivals by Western artists and bring in regional acts to Thailand, including leading K-Pop such as Big Bang and G Dragon. Now, through this new acquisition of the TERO C&E division, Live Nation Tero establishes itself as a holistic business that will cover a vast international and domestic music roster as well as family entertainment.
Since its establishment in 1998, TERO C&E has led domestic touring, family entertainment, exhibitions, musicals, and artist management within Thailand. The company has diversified regional content into established family entertainment activity, spearheaded by a strong relationship with the Disney on Ice franchise exceeding 20 years.
As Thailand's live entertainment industry revives, revenue from domestic artist shows across Thailand is predicted to grow rapidly year-on-year between 2022 and 2025. This deal brings in a respected and established domestic promoter in a key Asian market, expanding Live Nation's reach to more fans within the region. The acquisition also deepens Live Nation's strategy to offer new events to brand partners across the region which include Marriot Hotels, Mercedes, Toyota, Pepsi, Budweiser, and Samsung.
Roger Field, President Live Nation Asia Pacific, said:"TERO C&E has it all - local expertise delivering outstanding experiences to fans, and career growth for international and local artists. 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."
Neil Thompson, CEO of Live Nation Tero and DMD of Tero Entertainment PLC said:"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."
Brian Marcar, Managing Director of Tero Entertainment PLC said: "Our partnership with Live Nation has grown over the years and we have seen many benefits from this union for international artists. 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."
About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. For additional information, visit livenationentertainment.com.
About Tero Entertainment
Tero Entertainment Public Co. Ltd. has been an entertainment powerhouse for more than 30 years, and is the #1 international entertainment company in Thailand.
Tero's TV division produces top-ratings news, current affairs, and entertainment programming for Channel 7HD. The company's Music division boasts a roster of 25 artists, and handles music and publishing rights, artist management, and is the exclusive licensee and distributor for a number of top Western and Asian labels. Tero Digital manages the online platforms for as well as the e-commerce system for ThailandPost, and creates and manages online content for Channel 7HD.
As well as Tero Entertainment, the Tero group of companies includes Live Nation Tero, ThaiTicketMajor, Tero Radio, Tero Scenario, Tero Sabuy, and the Tero Performance Course. https://teroasia.comhttp://teromusic.comhttps://www.livenation.co.thhttps://teroradio.com
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For all media enquiries, contact:
Jackie Antas
VP Communications, Live Nation APAC