Live culture as a business model - Who owns our festivals?

When corporations take over the stages Who owns our festivals? As of: October 22, 2026 • 12:03 p.m

Wacken, Rock am Ring, Hurricane: International corporations are now behind many of the largest music festivals. The concentration is changing the live music business and putting independent promoters under pressure.

What began in 1990 with an improvised stage and around 800 metal fans in Schleswig-Holstein is now one of the largest metal festivals in the world. For the fans, Wacken is a cult. It has long been a business for international investors. The two founders, Thomas Jensen and Holger Hübner, now only own around five percent of the organizer company. They sold more shares in October. Almost 90 percent now belong to the international festival group Superstruct, which in turn is backed by large financial investors.

But the Wacken Open Air is by no means an isolated case. Rock am Ring, Parookaville and Hurricane are also part of large corporate networks. Whether metal, rock or electronic music: musically, some of these festivals could hardly be more different. Economically, however, they are increasingly converging on the same few companies. A study by the European live music associations Live DMA and Reset! shows how far this concentration extends: More than 150 major festivals in the EU are assigned to four company groups - Superstruct, CTS Eventim, Live Nation and AEG. This involves different ownership and operator relationships.

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Festivals are attractive business for the big organizers: after all, they often bring with them a fan base that has grown over decades. Business becomes particularly lucrative when companies also earn money from tours, venues and ticket sales. This is shown by the example of CTS Eventim, a group that generated sales of more than three billion euros for the first time in 2025. Eventim is active in the festival business through various investments, organizes concert tours and is one of the largest ticket sellers in Europe. Well-known venues such as Berlin's Waldbühne and Cologne's Lanxess Arena are also operated by Eventim.

The business is intertwined: a group can organize a band's tour of Germany, run the hall in which they perform and also sell the tickets. In the summer, the same band could play at a festival from the company's own network. For Eventim, this means multiple sources of income and more negotiating power. For smaller competitors, it means competing with a company that has much more to offer than a single gig.

However, the size also brings advantages. Festivals are economically risky: artist fees continue to rise, as do production and security costs. Extreme weather or weak ticket sales can cause significant losses. A corporation in the background can better absorb such risks. There are also economies of scale: technology, services or advertising can be purchased together for several festivals, and staff and know-how can be easily shared. Wacken founder Thomas Jensen explained that the support from Superstruct was vital for the festival's survival during the corona pandemic.

But what strengthens large organizers economically can be a disadvantage for their independent competitors. Large organizers can offer bands multiple gigs in their network. Smaller festivals compete for the same artists with significantly smaller budgets. Johanna Stark from the LiveMusic Commission observes that large festivals drive up artist fees and production costs. Smaller organizers could hardly keep up. She spoke to Bayerischer Rundfunk about a “repression structure”.

Julian Reininger from the independent Green Juice Festival in Bonn also reported to Backstage PRO about increased fees and problems with booking. So-called territorial protection agreements can prohibit bands from further appearances in a certain region - even if another organizer could pay the fee. Of around 20 possible headliners, Green Juice sometimes only had one or two realistic options. Territorial protection is not new in the industry, but it can exacerbate the power imbalance between large and small organizers. Superstruct counters the criticism that larger corporate structures in particular can secure festivals economically and thereby maintain their diversity, as the company explained to the BR.

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The stories of many festivals begin very differently: not with a business plan, but with enthusiasm for culture. Often at the beginning there is simply enthusiasm for a style of music that hardly gets a stage elsewhere. Over decades, such initiatives have become important cultural locations that shape entire scenes and regions. For many people, especially young people, festivals are an important part of their identity. If they disappear, independent ideas and cultural freedom are also lost.

However, corporate ownership does not automatically mean less musical diversity. According to founder Thomas Jensen, the tried and tested team continues to decide on the program at Wacken. However, when it comes to larger investments, growth and long-term strategy, the owners also have a say in corporate structures. This can become a conflict if cultural ideas do not match the economic expectations of investors.

Because cultural diversity not only includes what music is played on the stages, but also who can design these stages. The question is not just who owns the big stages; but what opportunities those who are not part of these billion-dollar networks have.

This topic in the program: SWR | Culture in the morning | Oct 21, 2026 | 07:37 am |