Live Nation Entertainment Inc. announced a partnership on Monday with Java Festival Production that will allow the Beverly Hills company to promote concerts in Indonesia.
Java Festival Production is the leading producer of festivals in Indonesia. Its recent headliners have included the likes of Stevie Wonder, Thirty Seconds to Mars and Natalie Cole.
The partnership is the latest in Live Nation’s move to globalize its business. The company has recently launched concerts in Hong Kong, Singapore, Taiwan, Beijing, Shanghai and Japan. In September, Live Nation announced a similar partnership with Music Management International Corp. to bring concerts to the Philippines.
“With a population of 250 million and the fastest growing middle income segment in Asia, Indonesia is a country where we see a significant opportunity to grow the live music market – initially in Jakarta, but then into other cities across the country,” Alan Ridgeway, Live Nation’s president of international and emerging markets, said in a statement.
Live Nation merged with Ticketmaster five years ago and is now the biggest concert company in the world. The company recently reported strong third quarter earnings that beat analysts’ expectations.
Shares of Live Nation rose 3 cents in Tuesday trading to close at $26.13.
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