LONDON (January 22, 2013) – Live Nation Entertainment (NYSE:LYV), the world’s leading live entertainment company, has secured exclusive rights to host major music concerts during 2013 in London’s iconic Queen Elizabeth Olympic Park and Stadium, the flagship locations of the 2012 London Summer Olympics.
The company, already the largest provider of show-piece music concerts in the UK, was awarded the opportunity to stage a number of blockbuster concerts at the world renowned venue by the London Legacy Development Corporation (LLDC), the organization responsible for future use of the Olympic Park and its venues.
John Reid, President of Concerts at Live Nation Europe, said: “We are delighted to be staging music concerts at the London Olympics venue, which last year became a globally-recognized site for outstanding performances – both in sport and music. Over the coming weeks, we intend to announce some major concerts with world-renowned artists to firmly establish the Queen Elizabeth Olympic Park as the centerpiece for great live music in Europe.”
Dennis Hone, Chief Executive of the London Legacy Development Corporation said: “I’m delighted that leading global companies like Live Nation are interested in the stadium and the Park. We’re thrilled to be partnering with them this summer. This deal marks an important stepping stone towards securing a long-term programme of fantastic events that will make Queen Elizabeth Olympic Park a leading destination for Londoners and those who come from further afield.”
Events scheduled for the Queen Elizabeth Olympic Park in the summer of 2013 include the Wireless Festival and Hard Rock Calling.
News of the planned events has been welcomed by major sponsors such as Hard Rock, the global operator of restaurants, hotels, casinos and music venues.
“Our Hard Rock venues around the world showcase more than 20,000 live music events a year,” said Hamish Dodds, President and Chief Executive of Hard Rock. “Over the last seven years, our flagship Hard Rock Calling concerts in London have achieved global recognition and we look forward to activating our new location in the Olympic Park in collaboration with the Mayor’s office and Live Nation.”
The deal to stage events in the Olympic Park follows Live Nation’s successful staging of major London events including Hard Rock Calling, Wireless and BT London Live during the 2012 Games. The company also stages major UK festivals including Download, Reading & Leeds and Latitude. It hosted more than 400 concerts and entertainment performances across Europe in the past year, including for artists such as Bruce Springsteen, Rihanna and Coldplay.
“Live Nation is building its international presence and our plans for the London Olympic venue signal our commitment to further European expansion,” added Reid. “This unrivalled location will enable us to strengthen our role as the premier provider of great live music in 2013.”
Financial terms of the London Olympic venue contract have not been disclosed. Details of the music acts and dates to perform at the site will be announced in the first quarter of 2013.
About Live Nation Entertainment:
Live Nation Entertainment is the world’s leading live entertainment and ecommerce company, comprised of four market leaders: Ticketmaster.com, Live Nation Concerts, Artist Nation and Live Nation Network. Ticketmaster.com is the global event ticketing leader and one of the world’s top five ecommerce sites, with almost 27 million monthly unique visitors. Live Nation Concerts produces over 22,000 shows annually for more than 2,300 artists globally. Artist Nation is the world’s top artist management company, representing over 250 artists. These businesses power Live Nation Network, the leading provider of entertainment marketing solutions, enabling nearly 800 advertisers to tap into the 200 million consumers Live Nation delivers annually through its live event and digital platforms. For additional information, visit www.livenation.com/investors.
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