BEC-Tero forms JV to attract top concerts to Thailand

Live Nation Entertainment, a Los Angelesbased entertainment company, has formed a joint venture with BEC-Tero Entertainment Plc to promote international concerts in Thailand.

Live Nation holds a 49% stake in Live Nation BEC-Tero Co, while Thailand’s BECTero has 51%.

“Thailand is a key market of us and this partnership represents another important step to increase Live Nation’s global presence and ensure that we can offer fans, artists and sponsors a seamless service across the world,” said Alan Ridgeway, president for international and emerging markets.

Last year, the American concert promoter expanded its reach to China, Hong Kong, Indonesia, Japan, the Philippines, Singapore, South Korea, Taiwan and Thailand. It will land in Malaysia next month.

Live Nation’s business spans ticketing services, concerts, artist management and media and sponsorship.

“If we see more opportunities in Thailand, we will bring other business services to Thai fans,” Mr Ridgeway said.

Neil Thompson, deputy managing director of BEC-Tero, said the partnership would benefit Thai customers who can watch top-listed international concerts. Thailand will be put on the map for tours by top performers, while the cost of production will be slashed to make tickets more affordable.

The standard of showbiz such as seating plan will improve with the know-how of Live Nation.

Live Nation BEC-Tero will oversee international concerts, while BEC-Tero will focus on local concerts, exhibitions and showbiz.

This cooperation will ensure a certain number of international concerts in Thailand each year. Live Nation will help sponsor world tours such as Taylor Swift’s. Sponsorship now contributes about 40% of revenue for each concert.

Mr Thompson said BEC-Tero normally organised five international concerts a year. The partnership with Live Nation will increase the capacity to 10 concerts.

Several i nternational concerts are planned this year including Avenged Sevenfold, Michael Buble, Jason Mraz, One Direction, Hostess Club and The Script.

Regional concerts from leading South Korean and Japanese pop singers will also be brought to Thailand.

Last year, Thailand’s political conflict led to some international concerts being cancelled.

“We are confident that Thailand has a great opportunity to grow in the showbiz sector,” Mr Thompson said.

With political stability and an improving economy, BEC-Tero aims to grow its sales by 10% this year.