Photo Credit: Anton Lukin
Live Nation has announced a significant expansion of its presence in Latin America, acquiring an additional 24% stake in OCESA. OCESA is Mexico’s largest concert promoter and the deal pushes Live Nation’s share to 75%.
Corporación Interamericana de Entretenimiento (CIE) retains the last 25% of OCESA. The updated agreement also extends the option for CIE to sell the remaining stake until 2032. Alejandro Soberón, Founder & CEO of both Grupo CIE and OCESA, will continue to lead OCESA in the meantime.
Live Nation’s initial investment in OCESA began in December 2021, when it acquired a 51% stake for $444 million. The new 24% acquisition is estimated to cost around $646 million. According to a statement from CEO Michael Rapino, “Our investment in OCESA has been incredibly successful, and Alejandro and his team have done a tremendous job utilizing these global Live Nation infrastructure to drive growth in Mexico.”
“Together we have more than tripled the number of fans attending our concerts in Mexico since 2019, making Mexico the 3rd largest music market in the world. I expect we have many strong years of growth ahead of us.”
Alejandro Soberón also lauded the partnership, stating: “Live Nation and Michael Rapino have been ideal partners. The combination of our market knowledge and Live Nation’s expertise have come together to create more opportunities for artists to perform in Mexico and for fans to enjoy these shows.”
The expansion comes as Mexico cements its place as the 3rd largest music market across the globe. The surge is credited to rapid growth in both in-person concerts and streaming segments. OCESA leads the region, organizing thousands of events and overseeing a diverse portfolio comprising concert venues, ticketing, and artist management. The broader Latin American live music industry has seen continued momentum, with Live Nation reporting fan attendance in the region is up over 25% in Q1 2025.
CIE’s retained stake and long-term commitment signal continued collaboration as Mexico’s industry grows at a record pace. Analysts and stakeholders alike are eyeing sustained demand as domestic and international artists prioritize Mexico as a top destination on world tours. The deal, pending a CIE shareholder vote, is projected to close by the end of August.
Content shared from www.digitalmusicnews.com.