The multi-facetted company AC Entertainment is one of the co-founding companies that launched one of Tennessee’s largest music festivals, Bonnaroo. Started 25 years ago by Ashley Capps, the company now has their hands in promotion, production, booking and marketing for festivals and clubs alike. The company decided to offer some stakes in Bonnaroo last year, an offer that Live Nation couldn’t refuse.
A deal was struck between the dominating Live Nation and the smaller AC Entertainment in the hopes of expanding with Live Nation’s market reach and allowing for more possibilities for AC Entertainment’s growth. Here’s what Capps told Billboard about the deal:
“Initially, the conversation with Live Nation was one of several that we were having as we contemplated how we wanted to grow and where we wanted to go as a company in the coming years. As we got to know the Live Nation team better, especially working on Bonnaroo, it became clear that our teams could complement one another very well. It seemed like a great fit for AC, for where we are as a company now and how we expect to grow in the future.”
The deal will still allow for AC Entertainment to act freely under Capp’s management and allow them to continue to do business under the AC Entertainment name. However, Live Nation now has the opportunity to tap into the AC Entertainments conquered markets in the Southeast region. Seems like a win-win, but we’ll have to wait and see how much tickets for next year’s Bonnaroo cost before ultimately deciding.
Source: Billboard | Photo: Lucas Gregg