Major news out of Las Vegas is far from over as Pasquale Rotella, the owner of Insomniac Events, has announced an official partnership with Live Nation. It is still not clear how much of a stake Live Nation now owns, but if a prior Billboard article is to act as a guide, it is a strong possibility that Live Nation now controls 50% of Insomniac Events.
This new ground breaking deal that will shake the EDM business in North America was announced in an open letter from Pasquale addressed to headliners (that's you), family, and friends on Insomniac's official site this evening. He was quick to point out that Insomniac Events retains "complete creative control of all events", and ensured fans that ticket prices will "continue to be fair and reasonable".
One reason that Pasquale offered for the new partnership is to "take our events to the next level" as they will "enjoy access to a much larger and diverse variety of venues and resources." He later stated in the FAQ section of the letter that Insomniac will utilize Live Nation's resources and relationships around the world to "bring a bigger and better Insomniac experience to even more places."
Will this mean that Insomniac will be looking to expand to different countries such as Canada in order to create a global conglomerate that will compete toe to toe with ID&T/SFX Entertainment? Absolutely. With EDC London already planned in July, it is now conceivable to expect more EDC's being organized all over the world, especially in places like Canada, Australia, and possibly Asia. Live Nation has already made inroads with Electric Daisy Carnival Las Vegas this year by having Hard Events control a stage. So the prospect of seeing Live Nation backed EDC festivals spread all over the world could be exciting.
With Live Nation now engaged in a strong partnership with Insomniac Events, this leaves less players at the top to compete for global dominance of the EDM industry. This is a dynamic time during this EDM boom and what lies ahead following this major deal will be very interesting.