Randy Philips, the new head of LiveStyle – formerly SFX Entertainment – believes the company can rival his former company AEG Live as a global events power.
LiveStyle emerged from Chapter 11 bankruptcy protection on December 2, some nine months after it was engulfed by debts of hundreds of millions of dollars.
The owner of ticketing company Paylogic, digital music store Beatport and several huge dance festivals – Electric Zoo, Mysteryland and Life in Color – will be run from Los Angeles by new president and chief executive Philips, the former head of AEG Live.
Phillips has run festival Coachella and promoted tours by major artists such as Justin Bieber and Britney Spears while at AEG.
“LiveStyle has the same potential that AEG Live had when I assumed the reins of that company as CEO,” said Phillips in a statement. “In fact, it has many more assets to build upon, has an impressive management team, especially at the event level, including most of the original founders of these world-renowned festival brands.
“Armed with no debt, a re-capitalised financial structure, and an incredibly supportive board, we will build LiveStyle into an essential company in the live entertainment sector. Having done this once before, my team and I are very excited to get started.”
LiveStyle’s leadership, in addition to Phillips, includes Charles Ciongoli, who will serve as executive vice-president and chief financial officer; senior vice-president, Alan Walter; and Jason Barr who will serve as the company’s senior vice-president, general counsel and corporate secretary.
LiveStyle will produce and promote single and multi-day electronic music festivals across North America, Europe, South America, Australia and Asia. Its major European events include Monumental, Q-Dance and Tomorrowland.
Since its foundation in 2005, Paylogic has sold 30 million tickets to fans from more than 200 countries for events including concerts, festivals, sporting events and cultural attractions.
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