Companies began to see the light at the end of the tunnel following a difficult time during the pandemic, and June saw some major deals announced.
Vivendi agreed to sell 10% of Universal Music Group (UMG) to US-based special purpose acquisition company (SPAC), Pershing Square Tontine Holdings (PSTH). Vivendi is the parent company of UM and owner of See Tickets, Digitick and Paylogic. The 10% sale cost PSTH $4bn.
Iconic North American media brand Sports Illustrated entered the ticketing market with is nominal flat-fee marketplace, SI Tix. The platform is licensed by Sports Illustrated owners Authentic Brands Group and is reportedly powered by itinerary from Ticket Evolution and Ticket Network. It plans to host millions of tickets for more than 100,000 concerts.
Deutsche Entertainment AG (DEAG) continued the trend of mergers and acquisitions by acquiring promoter and event organiser UK Live Limited. The deal for 90% of UK Live’s shares, via DEAG’s UK subsidiary Kilimanjaro Holdings Ltd, enabled the company to expand its presence in the UK market.
China saw its biggest music show since the COVID-19 outbreak with 10,000 fans at a sold-out Re-Tros gig in Shanghai. The event was organised by Live Nation and was held at the Mercedes-Benz Arena in Shanghai, which has a capacity of 18,000.