The world’s biggest touring company Live Nation has launched in South Korea.
South Korea is the 13th largest economy in the world, the 12th biggest music market on the planet and 3rd largest music market in Asia.
The countries music tastes revolve largely around what is called K-Pop but the brand of music is spreading across Asian countries.
Live Nation Far East will be a fully owned subsidiary of Live Nation.
“We see great opportunity for concerts around the world and our move into South Korea represents another step in the growth of this business,” stated Michael Rapino , President and Chief Executive Officer of Live Nation Entertainment. “Our strategy is to continue our international expansion into under penetrated regions and identify new markets to deliver our unique live experience product.”
“With a growing interest from international artists to perform in South Korea , this is a natural step for us to be able to serve artists and fans better in Korea,” said Alan Ridgeway , President of Live Nation International and Emerging Markets. “We also have plans to work with Korean artists both in Korea and internationally to meet the expanding demand around the world for the K-Pop phenomenon.”
“Live Nation Korea will further enhance the touring opportunity for both international and local artists in the Asia region,” says Mats Brandt , President of Live Nation Far East. “Live Nation Korea will, together with our existing offices in Hong Kong , Singapore and Beijing, expand Live Nation’s network and capabilities in the region.”