Live Nation Entertainment Inc. said Monday it had formed a partnership with London’s Parallel Contemporary Music to build sponsorship opportunities in Asia for its performing artists.

The Beverly Hills concert and artist promoter already operates in 10 Asian markets either directly or in conjunction with local partners. It said that the new Live Nation Marketing Partnerships Asia will add to the income that can be derived from such events. Parallel has offices in Seoul, South Korea, and Singapore.

Live Nation has more than 7,800 sponsor deals worldwide, Chief Executive Michael Rapino said at a recent industry conference.

He noted that the company has promoted 180 shows, selling 1.2 million tickets, over the last two years in the region. “Having successfully grown our attendance figures in Asia, we now have the opportunity to develop high-margin sponsorship opportunities in line with our established businesses in North America and Europe,” Rapino said.

Running the partnership will be David Ciclitira, who heads Parallel Contemporary Music and is chairman of parent Parallel Media Group. A former PMG entity, Broadcast Innovations, was known for its groundbreaking sponsorships for Pepsi in the 1980s with stars such as Michael Jackson and Madonna.