Will On Location’s new acquisition prove a powerful competitor to Live Nation?
On Location Experiences, a premium experiential hospitality business, has announced a new deal. The company has acquired Future Beat, a six-year-old provider of VIP concert experiences for the live music industry.
On Location didn’t disclose the financial terms. The company has over 500 partnerships across multiple industries, including sports – football, tennis, golf, and college basketball – music, and travel. Its roster of clients includes the Super Bowl, the PGA Tour, and the NCAA Final Four. The company also works closely with the United States Tennis Association (USTA).
Last year, the premium hospitality company purchased Dan Berkowitz’s CID Entertainment. Its client roster includes key music festivals such as Coachella, Bonnaroo, and Stagecoach. CID also manages several notable tours, including the Cory Henry Fall Tour and Luke Bryan’s Crash My Playa event in Mexico.
Taking on Live Nation.
The move will expand On Location’s capabilities to serve the live music industry and artists. On Location will combine Future Beat and CID Entertainment to create a live music experiential platform.
Sharing insight into what the company has planned for the future, John Collins, CEO of On Location, explained,
“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 complementary and give our live music division significant scale.”
The deal brings several notable Future Beat clients, including Lil Yachty, Marilyn Manson, and 21 Savage, among others. The six-year-old company has offered fans exclusive packages to concerts, including VIP packages and meet-and-greets.
As part of the deal, Dave Berger, CEO and Founder of Future Beat, will also join On Location Experiences. He founded the company in 2012.
Speaking with Billboard about the acquisition, Collins posits the new partnership will create a unique VIP and concert experience company “second only to Live Nation.”
“This deal is all about music. [CID’s] Dan (Berkowitz) has done a great job servicing a lot of the bigger festivals and working with artists to create their own festivals and experiences. With Dan and Dave [Berger], there will be plenty of opportunities to create new experiences and partner with our clients like the Super Bowl to add new elements for fans.”
On Location reportedly remains on track to earn over $600 million in revenue this year.
Berger explained the parent company will also aim to capitalize on the growing popularity of developing artists. These include classic rock and hip-hop musicians as well as YouTube and Instagram stars.
“More and more artists are not only receptive to these ideas, but often are instigating some of these conversations. It’s not that long ago that the VIP was a foreign concept to a lot of artists, where you’d call up a box office and you’d actually have to explain what is a VIP experience. Now it’s very commonplace at all shows, all the way up to the stadium or the arena, down to the theaters, the clubs, and small venues.”
Featured image by 21 Savage (YouTube screengrab).