Live Nation Acquires Majority Stake in Colombian Promoter Páramo Presenta

In a bid to expand its presence in the burgeoning Colombian touring market, Live Nation Entertainment has acquired a majority stake in Páramo Presenta. The Colombian promoter’s assets include the Estéreo Picnic festival — the largest festival in Colombia with an annual attendance of over 100,000; it was included on Billboard’s list of the top music festivals of 2022.

Páramo’s roster of festivals also includes the Baum Festival and Knotfest Colombia. Both also take place in Bogotá, the site of Estéreo Picnic.

The deal was struck via promoter OCESA, of which Live Nation acquired a majority stake in December 2021. As part of the deal with Páramo, ticketing for all of its events moving forward will be done via Eticket, OCESA’s ticketing platform in Colombia and part of Live Nation’s ticketing business.

“Colombia is a booming market, and we’re looking forward to working with our new partners at Páramo and longtime partners OCESA as we continue our expansion across Latin America,” said Live Nation president/CEO Michael Rapino in a statement.

“We are excited to build upon our deep relationship with Live Nation, and welcome Páramo as a partner,” added OCESA CEO Alejandro Soberón Kuri. “Together, we will continue to elevate the live entertainment landscape in Latin America, adding Páramo’s top festivals and concert roster to OCESA’s large-scale events in Colombia.”

As for Páramo, the company was a pioneer in bringing large-scale events to Colombia at a time when there were none.

“Almost 20 years ago, we embarked on this journey because we saw the opportunity to bring more artists we love to Colombia,” said Páramo Presenta CEO Gabriel García in a statement. He added, “Today we celebrate this historic merge with Live Nation and OCESA, two of the most important entertainment companies in the world, with the firm conviction that it will propel us to new heights and provide even more unforgettable moments between artists and fans, becoming a key part of the country’s growth and strengthening our market to be increasingly competitive on the global stage of live entertainment.”