Global promoter giant Live Nation has acquired a majority stake in Austin, Texas promoter ScoreMore Shows.

ScoreMore, which produces more than 200 concerts per year, is also behind touring festivals like JMBLYA – which toured Young Thug, Migo and J. Cole in Dallas, Austin and Houston this year – as well as Neon Desert Music Festival (At The Drive In, Gucci Mane).

It’s also launching J. Cole’s music festival Dreamville in his home state of North Carolina on September 15, in partnership with his Dreamville Records. While no acts have been announced as yet, J.Cole’s Cole’s manager and president of Dreamville Records Ibrahim ‘Ib’ Hamad, said fans can expect a mix of “local acts, label signees from Dreamville and contemporary stars”.

According to Billboard, ScoreMore events moved over 180,000 tickets and accrued US$15 million in gross revenue in 2017.

thank you for the opportunity. this is a real dream come true.

— Sascha S. Guttfreund (@SaschaStone) May 30, 2018

ScoreMore was founded in 2010, kicking off with intimate club shows and growing to host giant festivals; it now does both.

Co-founder Sascha Stone said he and fellow founder Claire Bogle started the company as teenagers:

“Our success is the byproduct of a talented team of like-minded individuals working together to building something special,” Stone said in a press release. “Most importantly, we would not be where we are today without our incredible fans in the state of Texas and beyond who have continued to support our events for nearly a decade.”

Stone also manages Grammy-nominated hip-hop artist Tory Lanez. However, Live Nation’s acquisition does not include ScoreMore’s management and label arms.

The purchase expands Live Nation’s portfolio even further. The company includes Australia’s Download and Splendour in the Grass festivals under its umbrella, as well as New Zealand’s Rhythm and Vines, and South America’s Rock in Rio.

Live Nation president of U.S. Concerts Bob Roux said:

“Sascha and the ScoreMore team have a proven ability to form very early and long-lasting relationships with top talent, and their ground-breaking events, whether an intimate club show or a giant festival, really resonate with a diverse and passionate audience base, as well as with the leading artists that they present.

“This company is just getting started,” Roux added, “and we are all very excited about their future, as we know what they are going to accomplish even greater things as part of the Live Nation family.”

Read more at Billboard

The article was originally published on The Industry Observer