CTS Eventim has acquired a controlling stake in Italian live promotion company Vivo Concerti.
The firm was previously owned by Warner Music Group before MD Clemente Zard (pictured) bought it back last month.
Zard will continue to hold shares in Vivo Concerti and will manage the company’s operations from Milan.
As part of the deal, CTS Eventim now has interest in other activities held by Zard as an independent promoter, which will be transferred to Vivo Concerti.
They include concerts and musicals such as Alegria by Cirque du Soleil, Beauty and the Beast and the musical Notre Dame de Paris.
Among the artists whose Italian tours Vivo Concerti has organised in recent years are Evanescence, David Guetta, Demi Lovato, Tokio Hotel, Sam Smith, Brian Wilson and Hans Zimmer, as well as regional stars like Benji & Fede, Mannarino and Thegiornalisti.
Klaus-Peter Schulenberg, CEO of CTS Eventim commented: “We are absolutely delighted at strengthening our position in the Italian market even further.
“We are absolutely delighted at strengthening our position in the Italian market even further. Clemente Zard is an outstanding promoter who has produced business success stories in recent years.”
Klaus-Peter Schulenberg, cts eventim
“The multi-faceted portfolio of Vivo Concerti complements our existing activities superbly.
“We also welcome Clemente Zard to the ranks of CTS Eventim – an outstanding promoter who has produced business success stories in recent years, not only as the CEO of Vivo Concerti, but also with his own undertakings.”
Zard added: “Ever since I took over Vivo Concerti, I have wanted to work with an international partner.
“I am all the more delighted that, within a short time, we have found a global player in CTS Eventim.”
clemente zard, vivo concerti
“I am all the more delighted that, within a short time, we have found a global player in CTS Eventim, a company that is not only very familiar with our market segment, but which also shares our vision.
“Vivo Concerti will continue to bring a fantastic range of international and Italian artists together with their fans and put shows on the road that are as fresh and innovative as our company itself.
“At the same time, I would like to thank our former colleagues at Warner Music Italy, personally and on behalf of my team, for two fulfilling and formative years.
“During that period, we gained the self-confidence and experience to take the next step now in the development of Vivo Concerti. CTS Eventim is the perfect partner in that respect.”
Music Business Worldwide