Opry Entertainment Group Invests in Music Festival and Events Production Company Southern Entertainment
Ryman Hospitality Properties (NYSE: RHP) subsidiary Opry Entertainment Group (OEG) has acquired a majority stake in Southern Entertainment, a Charlotte-based live events and production company. Southern Entertainment's portfolio includes major country music festivals such as Carolina Country Music Fest, Barefoot Country Music Fest, and several others across multiple states.
Southern Entertainment, founded in 2015 by Bob Durkin and Rob Pedlow, will integrate OEG's artist development programs into their flagship festivals. The co-founders will continue leading the business post-acquisition. The partnership aims to expand festival reach and create new artist-centered experiences.
The acquisition strengthens OEG's position in live events and provides access to a complementary fan base. Southern Entertainment's financial results will be consolidated within Ryman's Entertainment segment.
Ryman Hospitality Properties (NYSE: RHP) ha acquisito attraverso la sua sussidiaria Opry Entertainment Group (OEG) una partecipazione di maggioranza in Southern Entertainment, una compagnia di eventi dal vivo e produzione con sede a Charlotte. Il portfolio di Southern Entertainment include importanti festival di musica country come il Carolina Country Music Fest, il Barefoot Country Music Fest e molti altri in vari stati.
Southern Entertainment, fondata nel 2015 da Bob Durkin e Rob Pedlow, integrerà i programmi di sviluppo artistico di OEG nei loro festival di punta. I co-fondatori continueranno a guidare l'azienda dopo l'acquisizione. La partnership ha l'obiettivo di espandere la portata dei festival e creare nuove esperienze incentrate sugli artisti.
L'acquisizione rafforza la posizione di OEG negli eventi dal vivo e fornisce accesso a una base di fan complementare. I risultati finanziari di Southern Entertainment saranno consolidati all'interno del segmento intrattenimento di Ryman.
Ryman Hospitality Properties (NYSE: RHP), a través de su subsidiaria Opry Entertainment Group (OEG), ha adquirido una participación mayoritaria en Southern Entertainment, una empresa de eventos en vivo y producción con sede en Charlotte. El portafolio de Southern Entertainment incluye importantes festivales de música country como el Carolina Country Music Fest, el Barefoot Country Music Fest y varios otros en múltiples estados.
Southern Entertainment, fundada en 2015 por Bob Durkin y Rob Pedlow, integrará los programas de desarrollo de artistas de OEG en sus festivales principales. Los cofundadores continuarán liderando el negocio tras la adquisición. La asociación tiene como objetivo expandir el alcance de los festivales y crear nuevas experiencias centradas en los artistas.
La adquisición fortalece la posición de OEG en eventos en vivo y proporciona acceso a una base de fans complementaria. Los resultados financieros de Southern Entertainment se consolidarán dentro del segmento de entretenimiento de Ryman.
Ryman Hospitality Properties (NYSE: RHP)의 자회사 Opry Entertainment Group (OEG)은 샬럿에 본사를 둔 라이브 이벤트 및 제작 회사인 Southern Entertainment의 대다수 지분을 인수했습니다. Southern Entertainment의 포트폴리오에는 캐롤라이나 카운트리 뮤직 페스티벌, 베어풋 카운트리 뮤직 페스티벌 및 여러 주에서 열리는 여러 주요 컨트리 음악 축제가 포함되어 있습니다.
Southern Entertainment는 2015년 Bob Durkin과 Rob Pedlow에 의해 설립되었으며, OEG의 아티스트 개발 프로그램을 자사의 주요 축제에 통합할 것입니다. 공동 창립자는 인수 후에도 회사를 계속 이끌 것입니다. 이 파트너십은 축제의 범위를 확장하고 아티스트 중심의 새로운 경험을 창출하는 것을 목표로 합니다.
이 인수는 OEG의 라이브 이벤트 내 입지를 강화하고 보완적인 팬층에 접근할 수 있는 기회를 제공합니다. Southern Entertainment의 재무 결과는 Ryman의 엔터테인먼트 부문 내에서 통합될 것입니다.
Ryman Hospitality Properties (NYSE: RHP) a acquis une participation majoritaire dans Southern Entertainment, une société d'événements en direct et de production basée à Charlotte, à travers sa filiale Opry Entertainment Group (OEG). Le portefeuille de Southern Entertainment comprend des festivals de musique country majeurs tels que le Carolina Country Music Fest, le Barefoot Country Music Fest et plusieurs autres à travers plusieurs États.
Southern Entertainment, fondée en 2015 par Bob Durkin et Rob Pedlow, intégrera les programmes de développement d'artistes de OEG dans ses festivals phares. Les cofondateurs continueront à diriger l'entreprise après l'acquisition. Ce partenariat vise à élargir la portée des festivals et à créer de nouvelles expériences centrées sur les artistes.
L'acquisition renforce la position d'OEG dans les événements en direct et offre un accès à une base de fans complémentaire. Les résultats financiers de Southern Entertainment seront consolidés dans le segment divertissement de Ryman.
Ryman Hospitality Properties (NYSE: RHP) hat über ihre Tochtergesellschaft Opry Entertainment Group (OEG) eine Mehrheitsbeteiligung an Southern Entertainment, einem in Charlotte ansässigen Unternehmen für Live-Events und Produktionen, erworben. Das Portfolio von Southern Entertainment umfasst bedeutende Country-Musikfestivals wie das Carolina Country Music Fest, das Barefoot Country Music Fest und mehrere andere in verschiedenen Bundesstaaten.
Southern Entertainment, gegründet 2015 von Bob Durkin und Rob Pedlow, wird die Künstlerentwicklungsprogramme von OEG in ihre Hauptfestivals integrieren. Die Mitbegründer werden das Unternehmen auch nach der Übernahme weiterführen. Die Partnerschaft zielt darauf ab, die Reichweite der Festivals zu erweitern und neue künstlerisch zentrierte Erfahrungen zu schaffen.
Die Übernahme stärkt die Position von OEG im Bereich Live-Events und bietet Zugang zu einer ergänzenden Fangemeinde. Die finanziellen Ergebnisse von Southern Entertainment werden innerhalb des Entertainment-Segments von Ryman konsolidiert.
- Strategic expansion into the growing festival sector
- Acquisition of established festival portfolio across multiple states
- Integration opportunities with existing artist development programs
- Access to new revenue streams and expanded audience base
- None.
Insights
This strategic acquisition marks a significant expansion for RHP's entertainment division. Southern Entertainment's portfolio of 5 major country music festivals represents a substantial revenue stream in the high-margin live events sector. The consolidation of financial results within RHP's Entertainment segment suggests material impact on future earnings.
The festival industry typically generates strong cash flows through advance ticket sales, sponsorships and on-site revenue streams including food, beverage and merchandise. Southern Entertainment's established presence in key markets like Myrtle Beach and New Jersey provides geographical diversification and reduces RHP's dependence on Nashville-centric operations.
The timing is particularly strategic as the live events sector continues to show robust recovery and growth post-pandemic. Festival attendance and consumer spending on experiences remain strong, suggesting potential upside for RHP's revenue diversification strategy.
The festival market acquisition represents a shrewd move into a growing sector. Music festivals have evolved into highly profitable ventures, with the U.S. festival market projected to maintain steady growth. Southern Entertainment's established decade-long track record and strategic locations in the southeastern United States position RHP to capture significant market share in the festival space.
The integration potential is particularly compelling - OEG can leverage its existing artist relationships and development programs to enhance festival lineups while using these events as powerful platforms for their Opry NextStage artists. This creates a virtuous cycle that strengthens both the festival business and OEG's core artist development mission.
The move also provides valuable data capture opportunities through direct fan engagement at large-scale events, enabling better targeted marketing and cross-promotion with RHP's other entertainment properties.
This acquisition represents a natural evolution for OEG's business model. By acquiring a majority stake in Southern Entertainment, OEG gains immediate scale in the festival business with a proven operator, while maintaining continuity through the retention of the founding team. The synergies between OEG's artist development pipeline and Southern Entertainment's festival platform create multiple vectors for growth.
The integration of OEG's artist development programs into these major festivals provides a important missing link in their artist development strategy - giving emerging artists access to large festival audiences. This strengthens OEG's value proposition to developing artists while enhancing the festival lineup diversity.
For investors, this deal positions RHP to capture more value across the live music ecosystem, from artist development through large-scale event execution, creating multiple revenue streams and strategic advantages in talent acquisition and development.
- Investment Strengthens Opry Entertainment Group’s Position as a Leader for Live Events and Experiences -
NASHVILLE, Tenn., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Opry Entertainment Group (“OEG”), a subsidiary of Ryman Hospitality Properties, Inc. (NYSE: RHP) (“Ryman”), announced that it has acquired a majority interest in Southern Entertainment, a live events, hospitality, and production company based in Charlotte, N.C. Southern Entertainment’s portfolio of owned or promoted music festivals includes Carolina Country Music Fest in Myrtle Beach, South Carolina; Barefoot Country Music Fest in Wildwood, New Jersey; Lovin’ Life Music Fest in Charlotte, North Carolina; the Greenville Country Music Fest in Greenville, South Carolina; and the upcoming Field & Stream Music Fest in Winnsboro, South Carolina, launching in 2025.
Patrick Moore, Chief Executive Officer of Opry Entertainment Group, said, “In just 10 years, the Southern Entertainment team has grown their business into one of the strongest independent festival businesses in the United States. With this investment, we are entering a dynamic and growing sector of the events business with seasoned operators who share our passion for creating unforgettable experiences for artists and fans. This investment will allow us to expand our reach to a large and loyal fan base that is complementary to our current audience.”
Bob Durkin and Rob Pedlow co-founded Southern Entertainment in 2015 and will continue to lead the business.
“Joining forces with OEG will add immediate value to our existing events and allow us to accelerate our plans to bring festivals to new markets,” said Durkin and Pedlow. “We are confident our fans, the artists who play our stages and the cities where we operate will benefit from our alliance with such an iconic name in country music.”
Southern Entertainment will integrate OEG’s artist development programs in their flagship country music festivals where many Opry members and Opry NextStage artists have performed in recent years. The teams also plan to develop additional artist-centered experiences in the years ahead.
Moore continued, “We view festivals as a tremendous opportunity to deepen our commitment to artists at all phases of their careers, and we especially look forward to joining forces with Southern Entertainment to bring even more of the up-and-coming artists who play our stages to their large-scale events.”
A note to Ryman Hospitality Properties Shareholders
Ryman expects to report Southern Entertainment’s results on a consolidated basis within the Entertainment segment. Additional details are available here: https://ir.rymanhp.com/news-and-events/events-and-presentations.
About Opry Entertainment Group
Rooted in the unparalleled country music history of the Grand Ole Opry, Opry Entertainment Group produces multi-platform entertainment experiences through its growing portfolio of entertainment venues, including the world-famous Grand Ole Opry, the iconic Ryman Auditorium, WSM Radio, the Blake Shelton-inspired Ole Red brand, ACL Live, and Category 10, the Luke Combs-inspired new multi-experiential live music venue, bar and restaurant in downtown Nashville. Through concerts, tours, music-inspired restaurants, retail, publishing, digital content, and more, Opry Entertainment Group connects millions of music fans to the artists they love through experiences they’ll never forget. Opry Entertainment Group is a subsidiary of Ryman Hospitality Properties, Inc. (NYSE: RHP).
About Southern Entertainment
Southern Entertainment is a full-service events and production company with an unwavering commitment to excellence, having produced over 200 events across the United States.
About Ryman Hospitality Properties, Inc.
Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. Ryman’s hotel portfolio is managed by Marriott International and includes a combined total of 11,414 rooms as well as more than 3 million square feet of total indoor and outdoor meeting space in top convention and leisure destinations across the country. Ryman also owns a
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to Ryman’s beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include, but are not limited to, statements regarding the future performance of Ryman’s businesses, anticipated business levels and anticipated financial results for Ryman during future periods, Ryman’s expected cash dividend, and other business or operational issues. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include the risks and uncertainties associated with economic conditions affecting the entertainment business generally, the effects of inflation on Ryman’s business, including the effects on costs of labor and supplies and effects on customers in OEG’s businesses, and changes in interest rates. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by Ryman with the U.S. Securities and Exchange Commission (SEC) and include the risk factors and other risks and uncertainties described in Ryman’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent filings. Ryman does not undertake any obligation to release publicly any revisions to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events.
| RHP Investor Relations Contacts: | RHP / OEG Media Contact: |
| Mark Fioravanti, President and Chief Executive Officer | Shannon Sullivan, Vice President Corporate and Brand Communications |
| Ryman Hospitality Properties, Inc. | Ryman Hospitality Properties, Inc. |
| (615) 316-6588 | (615) 316-6725 |
| mfioravanti@rymanhp.com | ssullivan@rymanhp.com |
| ~or~ | Southern Entertainment Media Contact: |
| Jennifer Hutcheson, Chief Financial Officer | Shannon Elmore |
| Ryman Hospitality Properties, Inc. | Southern Entertainment |
| (615) 316-6320 | (704) 467-1124 |
| jhutcheson@rymanhp.com | shannon@whirlwind-creative.com |
| ~or~ | |
| Sarah Martin, Vice President Investor Relations | |
| Ryman Hospitality Properties, Inc. | |
| (615) 316-6011 | |
| sarah.martin@rymanhp.com | |
FAQ
What festivals did RHP acquire through the Southern Entertainment investment?
How will the Southern Entertainment acquisition impact RHP's financial reporting?
What is the strategic benefit of RHP's investment in Southern Entertainment?
Will Southern Entertainment's management change after RHP's investment?
How will RHP integrate Southern Entertainment with existing operations?
