A premium experiential hospitality business, On Location Experiences, has acquired Future Beat in a significant deal whose details have not been disclosed. Future Beat is a six-year-old company who provides top-of-the-line concert experiences for the live music industry.
On Location Experiences already has over 500 partnerships across industries ranging from sports to music and travel. Last year, the company purchased CID Entertainment, whose client roster includes major festivals like Bonnaroo and Coachella. The acquisition of Future Beat will further enhance On Location’s ability to provide live music events. On Location plans to combine Future Beat and CID Entertainment to create a major live music experiential platform.
CEO of On Location John Collins explained their goals:
“This is another transformative acquisition for On Location Experiences, as we continue expanding our footprint in the live entertainment space and leveraging our platform for the benefit of our partners and fans. The premium offerings of Future Beat and CID Entertainment are complimentary and give our live music division significant scale.”
This challenge could not have come at a worse time for Live Nation, whose stock has been significantly slipping following a recent undercover report alleging its involvement in a scalping scandal (for which it is facing a new lawsuit).
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