Entertainment company Live Nation has acquired the concerts and entertainment division of Thailand-based Tero.
The acquisition showcases Live Nation’s intentions of expanding within Thailand, and also builds upon the joint venture between Live Nation and Tero C&E – Live Nation Tero – which launched in 2015.
The company promotes international concerts and festivals by Western artists and regional acts, including K-pop artists such as Big Bang and G Dragon.
Tero was founded in 1998 and has promoted domestic touring, family entertainment, exhibitions and musicals as well as working within artist management in Thailand.
Live Nation predicts that Thailand’s live sector is set to grow rapidly between 2022 and 2025, and hopes to deepen partnerships with brand partners across the region.
Roger Field, president of Live Nation Asia Pacific, said: “Tero C&E has it all – local expertise delivering outstanding experiences to fans, and career growth for international and local artists.
“Our deepened partnership with Tero will expand our presence not only in Thailand but across the region, and we are looking forward to bringing an ever-growing and incredible roster of domestic and international talent to fans, connecting them with the magic of live.”
Neil Thompson, chief executive of Live Nation Tero and deputy managing director of Tero Entertainment, added: “We are excited by the growth opportunities of the entertainment business under the one company, this will not only increase the number of leading acts coming to perform in Thailand but now will give local artists the opportunity to work with a global company to manage their live touring here in Thailand, the APAC region and the rest of the world.”