Live Music Industry News: Rock-It Cargo, IAG, GSPS & More
In the latest live music industry news, private equity firm Providence Equity Partners has acquired Rock-It Cargo and its parent Global Critical Logistics. The company provides logistics services to concert tours, sports and other high-profile events.
GCL operates as brands Rock-It Cargo, DIETL and Cars and its clients include Taylor Swift’s “Eras” tour, Beyoncé and Paul McCartney.
The Wall Street Journal reported that the deal, which makes Providence the majority shareholder with former owner ATL Partners retaining a minority share, is worth $1 billion.
More Live Music Industry News
• Booking agency Independent Artist Group (IAG) has promoted veteran agent Nick Storch to Head of Global Artist Development. Storch is the agent for Ghost, Sleep Token, Spiritbox, Sabaton, Gojira, and Frank Turner and co-represents Disturbed and Limp Bizkit.
• Gateway Studios & Production Services (GSPS) has opened its new studio complex in Chesterfield, Missouri—the largest and most advanced rehearsal and production campus in the US.
The new campus is hosting clients on-site, with new bookings continuing to build. The 32-acre facility is designed to meet the demands of the most complex touring productions, television and film projects, and high-end corporate events. It offers a seamless, purpose-built environment for creatives and crews to prepare, collaborate, and execute at the highest level.
• A NITO analysis of 20 concerts in Maryland showed $6.2M in ticket reseller profit above original face value. Resale platform StubHub accounted for more than 24% of resales.
Overall, resold tickets were twice as expensive for fans as average face value tickets.
The study was conducted by NITO (National Independent Talent Association) at the request of Maryland State Attorney General’s Office.Read more here.
• Find the latest Live Music Industry News updated continuously under LIVE INDUSTRY NEWS tabs above.
Bruce Houghton
