Category: Culture / Lifestyle
Øyafestivalen, one of the biggest festivals in Norway, has entered into an investment agreement with Superstruct Entertainment, adding a fourth festival brand to Superstruct’s expanding roster of European events.
The deal is the latest development in what has been a busy year for Superstruct – led by CEO James Barton, the founder of Creamfields and former president of electronic music at Live Nation – following May’s acquisition of Sónar festival in Barcelona, February’s investment in Spanish promoter Elrow and the acquisition in January of a majority stake in Sziget.
The company is backed by private-equity firm Providence Equity Partners, and describes its mission as “building a group of leading music festivals in Europe and other parts of the world with the same level of quality and unique position in their home market” as Øyafestivalen, Sónar and others.
Øyafestivalen (60,000-daily cap.), founded in 1999, is held annually in Tøyen Park in Oslo. This year’s edition, which is taking place now (from 7 to 11 August), sold out in advance, with a line-up featuring acts including Kendrick Lamar, Arctic Monkeys, Arcade Fire, Lykki Li, Fever Ray, Patti Smith and Charlotte Gainsbourg.
Source: IQ Mag