SONY MUSIC MASTERWORKS ACQUIRES A MAJORITY STAKE IN SPAIN-BASED LIVE EVENT PRODUCER AND PROMOTER, PROACTIV ENTERTAINMENT

Rhea-AI Summary

Sony Music Masterworks has announced a majority investment in Proactiv Entertainment, a leading producer of live music and experiential events. Proactiv Entertainment has sold 2 million tickets in the last 5 years and works with top talent and brands. The investment will help grow the business through expanded events, venues, and experiences.

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• Sony Music Masterworks has made a majority investment in Proactiv Entertainment, a leading live event producer and promoter. This investment will allow Proactiv Entertainment to expand its range of events, venues, and experiences, potentially leading to increased revenue and growth opportunities for the company.

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• None.

NEW YORK, May 18, 2023 /PRNewswire/ -- Sony Music Masterworks, a division of Sony Music Entertainment ("SME"), today announced a majority investment in Barcelona-based Proactiv Entertainment, a leading producer of live music and experiential events around the world.

The company — which has sold 2 million tickets over the last 5 years — works with top talent and brands to stage concerts and festivals, touring and immersive experiences based on established intellectual property, and live productions of family shows, theatre, musicals, and other entertainment.

Under the agreement, Proactiv Entertainment's managing director Nicolas Renna will continue to lead the company's day-to-day operations and work closely with Masterworks President Mark Cavell, as well as Sony Music Spain & Portugal President Jose-Maria Barbat on behalf of SME's Latin Iberia region, to grow the business through an expanded range of events, venues, and experiences.

Founded in 1987 by Horacio Renna, a pioneer in event production in the Spanish and Latin American markets, Proactiv Entertainment's live music shows and events have included performances in Spain by Andrea Bocelli, Malu, Juan Luis Guerra, Dani Martin, Juanes and Maluma, among others. It has also delivered world class shows based on top international IP such as Disney on Ice, Disney Live!, The Lion King, WWE Live, Hamilton, the Harlem Globetrotters, Monster Jam, Harry Potter In Concert, Star Wars In Concert, Walking with Dinosaurs, Marvel Universe Live and Peppa Pig, among others. Proactiv Entertainment is also the producer behind the touring experiences of Meet Vincent Van Gogh, FC Barcelona Exhibition, and Secret Garden.

Mark Cavell, President of Sony Music Masterworks, commented, "We are thrilled to partner with Nico and Horacio Renna to take Proactiv Entertainment's business to the next level and help more leading artists and brands connect with fans through high-quality productions globally. They have a strong vision and key creative relationships around the world. Taken together with Sony Music's expertise, resources, and broad portfolio of live entertainment properties, we look forward to creating even more innovative live experiences for audiences everywhere."

Nicolas Renna, Managing Director of Proactiv Entertainment stated, "I feel very proud to continue my father's legacy, as well as the work I began at Proactiv Entertainment almost 20 years ago, with a partner like Sony Music Entertainment. We share vision and values, and we are firmly committed to creating a global leader in production and promotion of live experiences. With the support of Mark Cavell and the rest of the team across SME's global network, we will access new territories, grow our portfolio of properties and generate emotions to new audiences."

Horacio Renna, Founder of Proactiv Entertainment, added, "I am very happy and proud that Proactiv Entertainment, which I founded over 35 years ago, is joining the Sony Music Entertainment family. We have built our company to be one of the leaders in our sector and a standard-bearer through our values, professionalism, and hard work. Today starts a new era of success, made even greater by a partner with such great history and world-class capabilities."

The relationship with Proactiv Entertainment is the latest in a series of strategic partnerships and agreements advancing Sony Music Masterwork's growth as a multi-faceted worldwide entertainment business. Investments by Sony Music Masterworks include Backyard Cinema, an experiential cinema event producer; Culture Creative, a production and project management team specializing in developing site-specific and bespoke projects in unique heritage and landscape settings; Holland-based GEA Live, which designs, represents and produces shows and experiences based on prominent IP in music, film, television, anime, and gaming; The Luna Entertainment Group, the UK market-leader of open-air, drive-in and pop-up cinema experiences which also stages high quality location-based entertainment experiences, exhibitions and events; MAC Global, an award-winning, pan-regional concert promotion, talent management, events and production company based in Dubai, United Arab Emirates; Raymond Gubbay Ltd., the music, dance & Light Trail/Lightscape promoter; RoadCo Entertainment, the New York-based a producing and distribution agency specializing in live entertainment experiences; Seaview, the Tony and Olivier award-winning media company with theater, film, TV, and digital verticals; Senbla, the London-based producer/promoter of quality music, theater and immersive events, shows and festivals; and Terrapin Station Entertainment, an artist management, tour production and sports/stadium consultancy company which specializes in family-friendly and brand-led events, immersive exhibits, game shows, and charity concerts.

Sony Music Masterworks comprises Masterworks, Sony Classical, Milan Records, XXIM Records, and Masterworks Broadway imprints. For email updates and information please visit www.sonymusicmasterworks.com/.

For more information and upcoming announcements about Proactiv Entertainment visit https://proactiventertainment.com/en/home.

MEDIA CONTACT: 
Larissa Slezak | Sony Music Masterworks 
Larissa.Slezak@sonymusic.com 

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SOURCE Sony Masterworks

FAQ

What is the latest announcement from Sony Music Masterworks?

The latest announcement from Sony Music Masterworks is their majority investment in Proactiv Entertainment, a live event producer and promoter.

What does Proactiv Entertainment do?

Proactiv Entertainment is a leading producer of live music and experiential events.

How many tickets has Proactiv Entertainment sold in the last 5 years?

Proactiv Entertainment has sold 2 million tickets in the last 5 years.

Who will continue to lead Proactiv Entertainment?

Proactiv Entertainment's managing director Nicolas Renna will continue to lead the company's day-to-day operations.

How will the investment help Proactiv Entertainment?

The investment from Sony Music Masterworks will help Proactiv Entertainment grow its business through an expanded range of events, venues, and experiences.