As the second wave of the Covid-19 pandemic grows in many countries, now’s a very difficult time to be involved in live music. However, it may also be seen as an opportunity by companies looking to make acquisitions in live.
BMG, for example, is getting into live music for the first time, with an agreement to buy a majority stake in German promoter and events agency Undercover.
It will become a new live / events business music within BMG in Germany, with the company pitching the move as a new kind of 360-degree offering for artists.
“As well as releasing recordings and publishing songs BMG can now offer artists an integrated tour promotion and ticketing service,” as the announcement put it, while carefully adding that “like publishing and records at BMG, live will remain a strictly opt-in service”. The deal is expected to close by the end of this month.