Business News Deals Live Business

AEG Live buys into New York’s The Bowery Presents

By | Published on Tuesday 31 January 2017

AEG

Hey, look at this, a live music acquisition that doesn’t involved Live Nation. They do happen. Three times a year usually. Here’s number two. Live Nation’s chief rival AEG Live has taken a stake in New York-based venue owner and gig promoter The Bowery Presents.

Bowery Presents operates a number of venues in New York, as well as venues elsewhere in the Northeastern United States, including Boston, Portland and Philadelphia. Its principal partners Jim Glancy and John Moore will continue to run the business, alongside AEG Live’s SVP for the region, Mark Shulman.

Rumours of the deal having circulated for the best part of a year, AEG says that its new alliance with The Bowery Presents will allow it to “stay true to its entrepreneurial culture” while providing “the support and investment to continue to drive growth and innovation and expand its venue partnerships”.

Confirming the deal, AEG Live CEO Jay Marciano said yesterday: “The Bowery Presents and AEG Live share a passion and commitment to delivering the best music experiences to fans. Jim and John have built an incredibly respected organisation with a proven track record of success and we are pleased that they chose to partner with us. We look forward to working closely with them to further grow The Bowery Presents brand”.

For its side of the deal, Moore at The Bowery Presents added: “We are proud to have built this company based on our love of live music and passion for both the fan and artist experiences. The Bowery Presents is excited about all of the opportunities to grow and evolve as a company with our new partners at AEG Live. Brooklyn Steel is a perfect example of the type of venue and concert experience we will continue to deliver to fans and artists under our partnership”.



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