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Report: AEG Live acquires Bowery Presents, company that books the Sinclair, Royale, Great Scott

 

Billboard is reporting today that global concert giant AEG Live will acquire Bowery Presents, the independent New York-based concert promoter that boasts strong ties to the New England market.

In addition to its New York venues — which include Bowery Ballroom, Mercury Lounge, Terminal 5, and Music Hall of Williamsburg — Bowery also has a dedicated Boston division, as its local office produces live shows at Royale in the Theatre District, Cambridge’s the Sinclair, and Great Scott in Allston. In recent years Bowery has also expanded to Philadelphia, Portland (Maine), and Albany, while its Bowery South division has promoted shows in Atlanta, Birmingham, and New Orleans.

A deal could be announced as early as next week, Billboard reports, though financial terms of the deal are unknown. Here’s more from Billboard:

 

The development significantly impacts not only the New York concert scene but brings national implications as another successful promoter leaves the ranks of independents. Founded in 1993, Bowery has been a viable third promoter option in New York (with AEG and Live Nation), and has formed strong ties with artists, managers, and agents in moving acts up the venue ladder.

Bowery will be the second notable New York independent to be bought out this year. Earlier this month, news came that Live Nation had acquired a majority stake in Founders Entertainment, producers of Governors Ball on Randall’s Island. New York and the Northeastern U.S. have been one of the most competitive territories between Live Nation and AEG Live, and the latter’s move with Bowery is a critical play outside the festival space. Though digitally-savvy, Bowery in many ways operates as an old-school promoter, focusing less on forging tour deals or getting into bidding wars with established acts and more on building loyalty with developing bands by taking risks early in their careers at the small venue level, hopefully building a significant number of these acts to the arena level.

We’ve reached out to reps at Bowery Boston for comment. More to come.