Live music giant Clear Channel has announced a fifty year joint venture with Beijing Gehua Cultural Development Group, China's state owned cultural agency. The joint venture will see the two companies stage major international entertainment and sports events in China, working to introduce international event and venue management systems in the country as part of that process.
The deal should also open up global touring opportunities for
Chinese artists.
In return for its investment in China's live sector the new company will have first right of refusal to produce state-sanctioned tours, to promote international events in the country, and to manage venues, logistics, ticketing and commercial partnerships on key events. The company will have its headquarters in Beijing with satellite offices in New York and London.
Commenting on the new venture, Clear Channel Entertainment boss Brian Becker told Billboard that specific projects cannot be announced at this time, but he confirmed that his company will invest in tours and venues in the region "depending on the opportunities".
On the deal itself he added that the longevity of his company's relationship with the Beijing body demonstrates "great mutual belief in each other and the opportunities".