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Live Nation‘s Live Nation Urban (LNU) has acquired an equity stake in Washington, D.C.-based Broccoli City Festival, and has appointed the festival’s co-founders Marcus Allen and Brandon McEachern to executive roles at the company.
LNU did not disclose the size of its investment in Broccoli City Festival, other than hinting in an October 13 release that it acquired a “significant equity stake” from festival co-founders and entrepreneurs Allen and McEachern.
The pair will be joining LNU in executive roles, working alongside President Shawn Gee to expand the Broccoli City brand and come up with new content and culture-centric live experiences and festivals.
Since the launch of its first event in 2010, Broccoli City Festival, which describes itself as a “black owned social enterprise,” has featured artists such as Lil Wayne, Cardi B, Childish Gambino, and the late Nipsey Hussle as well as rising superstars Lil Baby, Lil Durk, Summer Walker, Wizkid, and City Girls.
Broccoli City Festival supports environmental consciousness in the African-American community and promotes creativity through innovative initiatives in the areas of technology, music, art, and social impact.
The festival’s annual event is touted as “the largest event in the U.S. for black people under 30-years-old,” and since its inception, it has attracted more than 20 million young audiences.
When we formed in 2018, one of the first deals we did was the original co-promotion deal with the Broccoli City team. I promised the guys that the success of our partnership would lead to greater things, and it was important to me to keep my word.”
Shawn Gee, Live Nation Urban
Speaking about the stake purchase, Gee says: “For us as a company, this investment was an important one. When we formed in 2018, one of the first deals we did was the original co-promotion deal with the Broccoli City team. I promised the guys that the success of our partnership would lead to greater things, and it was important to me to keep my word.”
“We are not simply investing in a festival; we are investing in these amazing founders. We believe this will be the first of many brands that we will build together with Marcus and Brandon as they have an insatiable entrepreneurial spirit. One of the core tenants of Live Nation Urban is identifying young black entrepreneurs in the live space and investing in their vision. I’m looking forward to continuing to build with Brandon and Marcus,” Gee added.
“We are not simply investing in a festival; we are investing in these amazing founders.”
Shawn Gee, Live Nation Urban
McEachern, who will be joining LNU, said: “We are super excited about this partnership with LNU/LN, and working closer with Shawn Gee. I really appreciate him encouraging us to be big thinking entrepreneurs and brand builders… not limiting us to event producers.”
In the new role, Allen said they will focus on curating untapped niche markets, bigger partnerships, and international expansion.
“Our big picture goal is to create a 100-million-dollar community at the apex of live entertainment, social impact, and digital media.”
Marcus Allen, Broccoli City Festival
“Our big picture goal is to create a 100-million-dollar community at the apex of live entertainment, social impact, and digital media.”
LNU focuses on hip-hop, R&B and gospel artists.
The company builds platforms, events, and festivals worldwide and develops content strategies based upon the live properties created.
In April 2019, LNU launched a series of events and initiatives to spotlight women in music called Femme it Forward. The events featured a number of artists including Cardi B, City Girls, Teyana Taylor, Nicole Bus, Rico Nasty, Jorja Smith, Kali Uchis, Ama Lou, Dounia, Brianna Cash, Mahalia, Jill Scott, Faith Evans, Tweet, Monica, Brandy, Ashanti, Keri Hilson, Amerie, Lil Mo and Mya.Music Business Worldwide
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