AEG Presents has teamed up with Japan’s largest music company Avex Entertainment in a joint venture that vows to “create international opportunities in artist development and live entertainment.”

The new venture, called AEGX, will provide Avex with access to AEG Presents’ worldwide portfolio of venues, festivals, and global touring partnerships to help expand the profile of its artists and brand across a global audience.

The JV will also see the concert promoter be able to use Avex’s resources and platform identity in Japan to provide international artists the ability to reach the Japanese audience, while simultaneously continuing the company’s live-event expansion in the market.

Jay Marciano, chairman and chief executive at AEG Presents, said: “This is really a perfect example of synergies being scaled for the benefit of global artist development, which is at the core of what we do.

“Partnering with Avex to launch AEGX gives both Avex and AEG Presents a path to create real opportunities for musicians who increasingly see the world as a borderless global community. I can’t wait to see what we all do together.”

The initial focus points for the new venture will be the co-promotion of AEG artists in Japan, the development of music festivals and venues in the market, and the promotion of global tours for Asian artists, including both artists signed to Avex and non-Avex artists.

AEG Presents’ portfolio includes Coachella Valley Music & Arts Festival and British Summer Time at Hyde Park and promotes tours for major artists including Paul McCartney, The Rolling Stones and Ed Sheeran.

Avex, which was founded in 1988, started as an independent dance music label and has evolved to become the largest entertainment company in Japan.

The company’s business spans across music, artist and talent management, concerts, events, merchandising, fan clubs, anime, game, and a music and video subscription service.

Katsumi Kuroima, president and chief executive of Avex, added: “We are very excited to announce the launch of AEGX with AEG Presents. Our companies both share the same goal with this new partnership: AEGX will serve music fans around the world by contributing to the global development of western artists, while also expanding the reach of Japanese artists beyond its borders.

“The COVID-19 pandemic reminds us of the positive power and limitless potential of music and entertainment. We are thrilled to take this stride forward together and look forward to the future.”