Sony Music Masterworks has acquired a majority stake in Terrapin Station Entertainment. The group is also launching a new joint venture with manager Jonathan Shank.
Masterworks and Terrapin Station Entertainment will work together with Shank for a variety of live productions. The joint venture aims to create family-centric tours and events from multi-platform family brands.
Shank has plenty of experience with family-friendly tour events. He previously produced events like Disney Junior Holiday Party, Peppa Pig Live, The Fresh Beat Band, and more. Shank will lead the joint venture in tandem with Mark Cavell, President of Sony Music Masterworks.
This joint venture is part of Sony Music Masterworks’ further expansion into the live touring business.
Masterworks also launched a joint venture with The Road Company. Those new alliances will allow Masterworks to develop, promote, and launch live family-friendly experiences across the globe. Shank led the family entertainment division of Red Light Management for nearly a decade before striking out on his own.
Shank founded the artist management and production company, Terrapin Station Entertainment, earlier this year. Terrapin’s roster includes artists like Victoria Justice, songwriter Scarypoolparty, Maddie Poppe, Laura Marano, and Sam Tsui.
“As a company, great entrepreneurs excite us, and Jonathan is just that! They help us grow, and we can help them grow with proactive support,” Mark Cavell says. “Jonathan is extremely passionate and committed, and he has a natural connection with artists and creatives. We’re thrilled to work closely with him and the Terrapin team to further develop our opportunities in the live space when the touring business returns and to expand our business to now include artist management for the first time.”
Jonathan Shank, the founder of Terrapin Station Entertainment, adds:
“With the support of Mark and our staff, there’s a tremendous opportunity to build Terrapin into one of the most competitive artist management and production companies in the industry,” Shank says. His team is sympathetic to the current condition of live entertainment in the world. “We want to be at the forefront of helping bring live experiences back to the world and shine a light on the ability of new entities to build a foundation and thrive.”
Terrapin Entertainment will focus more on live events and shows, while The Road Company focuses on Broadway theatricals. The two joint ventures will give Sony Music Masterworks a strong presence in the live entertainment industry, though both will face serious challenges heading into 2021 and beyond.