The U.S. entertainment company Live Nation announced it has acquired a stake in an Israeli concert promotion business and launched Ticketmaster Israel.
The Los Angeles-based company purchased a majority stake in Tel Aviv’s Bluestone Entertainment, Billboard reported Tuesday, and the two companies have partnered on the launch of the popular ticketing site in the Jewish state.
“We have seen a considerable demand for live entertainment with the shows that Live Nation has brought to the market over the last few years and have been very impressed when working with Guy, Shay and the rest of the Bluestone team,” said Alan Ridgeway, Live Nation’s president of international and emerging markets. “Formalising our partnership and bringing the Ticketmaster brand and technology to the market was the natural next step.”
Founded in 2014 by Guy Oseary, Guy Beser, Shay Mor Yosef and Gadi Veinrib, Bluestone has prompted sold-out shows in Israel by major international acts including Bon Jovi, the Backstreet Boys and Enrique Iglesias. The company has scheduled shows in Tel Aviv by Aerosmith on May 17 and Guns ‘n’ Roses on July 15.
In 2013, Live Nation launched Ticketmaster in the United Arab Emirates and last year reached a deal to operate two of the largest venues in Qatar in a joint venture. Ticketmaster currently operates in 28 countries.