Live Nation Buys Creamfields Festival To Expand Electronic Reach

International music company Live Nation has acquired Cream Holdings Limited, they announced today, which includes the exclusive rights to the Creamfields music festivals held around the world.

As well as its flagship festival, Cream also organises artist tours and DJ events. A specialist in the electronic music world, Cream has booked the likes of Daivd Guetta, Tiesto, deadmau5, Swedish House Mafia, Skrillex, Eric Prydz and Paul Van Dyk.

Cream expects to attract 350,000 fans to its festivals in 2012 and Live Nation plan to launch new festivals, across the burgeoning market of Southeast Asia, which is opening up to Western acts, as well as Europe and North America.

"With this acquisition, Live Nation further establishes its position in electronic music and expands its concert platform,” Michael Rapino, President and Chief Executive Officer of Live Nation, said today.  “We intend to launch new festivals in key markets in North America, Europe, and Southeast Asia.”

Current Cream CEO James Barton will now become the President Live Nation Electronic Music.

Rapino added, “We're equally excited to announce that James Barton, the founder of Cream, one of the most talented and experienced executives in electronic music has agreed to join the Live Nation Entertainment team as President, Live Nation Electronic Music to lead the company's expansion efforts in this rapidly growing space.  James is a true pioneer in the electronic dance space.”
 
Barton said, “Our strategies are aligned and through the combined efforts of the Cream and Live Nation teams, we will substantially grow our electronic music offerings across the globe.”