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Warner-owned live music outfit in Italy becomes independent business
By Chris Cooke | Published on Tuesday 13 March 2018
A live music business owned by Warner Music in Italy is being spun-off into an independent company as a result of a management buyout. Vivo Concerti will continue to work closely with the mini-major in Italy following the MBO led by Clemente Zard, who has run the live music unit since 2016.
Confirming this development, the boss of Warner Music Italy, Marco Alboni, said: “It’s been a great pleasure to work with everyone at Vivo over the last six years. The company is well placed to be a key player in the live market and I want to wish everyone there all the best going forward. This move will enable us to focus on our core business of A&R, content creation and providing tailored services to existing and new artists”.
Meanwhile Zard himself said: “I would like to thank Marco and the whole team at Warner Music Italy for their support as we’ve gone through this process. I look forward to working with them in the future as Vivo pursues its own destiny in the touring business. I think we have a great future as a player in Italy’s exciting live sector”.
It’s not the first time Warner has stepped back from its dabblings in live music in Europe, it having likewise offloaded German promoter Neuland Concerts via a management buyout just under a year ago.
