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BMG is further expanding the live segment with a majority stake in the Taubertal Festival

BMG is further expanding the live segment with a majority stake in the Taubertal Festival
BMG is further expanding the live segment with a majority stake in the Taubertal Festival

BMG’s entry into the festival market

bmg undercover music business festival organization

Caspar von Reden (BMG), Martin Dannhoff (Bertelsmann (lawyer)), Giulia Höck (BMG), Maximilian Kolb (BMG), Volker Hirsch (KARO), Michael Schacke (undercover), Dr. Alexander Hess (KARO (lawyer)), Rilana Sandelmann (undercover), Michael Wohlfarth (undercover), Tobias Huwe (undercover). © Frederike van der Straeten

BMG, Undercover and the founder of the Taubertal Festival Volker Hirsch enter into a strategic partnership. For the first time, BMG is expanding its portfolio in the live area to include a festival.

The music company BMG has announced a majority stake in the KARO Konzert-Agentur Rothenburg GmbH. With this participation, the Taubertal Festival organized by KARO, a traditional mid-size pop and rock festival in Bavaria, is transferred to BMG’s portfolio.

The Bertelsmann subsidiary describes the alliance as the next step in BMG’s strategic expansion in the live music and entertainment sector: BMG’s live range includes tours, booking and concerts (via the Undercover agency) as well as festivals. One of the long-term goals of the partnership is also to strengthen the Taubertal Festival as an international brand.

Part of a holistic strategy

Volker Hirsch, the CEO of KARO, continues to lead the Taubertal Festival with full creative freedom. He comments on the collaboration with BMG as follows:

“In the partnership with BMG, I see valuable support in underpinning the Taubertal Festival’s status as a top national festival brand and in bringing the festival’s media coverage to an international top level. I am looking forward to working with BMG on the festival To be able to build headliners of the future and to be part of the live entertainment segment started together with Undercover. “

The agreement between BMG and KARO coincides with the one-year existence of the partnership between BMG and Undercover, which forms the basis for BMG’s live music and entertainment unit in GSA. During the past twelve months, Undercover was able to attract many new artists and projects.

Interesting too

Source

BMG expanding live segment majority stake Taubertal Festival

 
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