Live Nation Acquires Stake in Malta’s 356 Entertainment Group

VALLETTA, Malta — Live Nation has announced its acquisition of a stake in 356 Entertainment Group, a prominent promoter in Malta’s burgeoning festival and outdoor concert scene. This partnership marks Live Nation’s strategic entry into the Maltese market.

Founded in part to cultivate Malta’s live entertainment landscape, 356 Group operates Uno, the largest club on the island, which hosts over 100 events annually. The acquisition builds on a successful collaboration between Live Nation and 356 Group, previously responsible for high-profile events including Take That’s The Greatest Weekend Malta and the upcoming Liam Gallagher and Friends Malta Weekender in 2024.

The deal comes at a time when Malta’s live entertainment sector is experiencing significant growth. According to a press release from Live Nation, 356 Group’s festival season in 2023 attracted 56,000 visitors to Malta, resulting in an impressive economic impact of €51.8 million (approximately $56.7 million).

John Reid, president of concerts for Europe, the Middle East, and Africa at Live Nation, expressed enthusiasm about the partnership: “Malta’s live music scene is experiencing a real boom, and this deal marks an exciting new chapter for Live Nation. By combining 356 Group’s local expertise with our global network and experience, the potential for the island is clear.”

Reid highlighted Malta’s appealing scenery and climate, suggesting that it is well-positioned to become a must-visit destination for live entertainment. He added, “With a burgeoning festival scene, Malta is ready to welcome more diverse acts and international artists.”

In a statement from 356 Group, officials conveyed optimism about the acquisition, calling it a significant milestone. “This acquisition is a major step forward for 356 Entertainment and Uno Malta. Partnering with Live Nation brings new opportunities for the island that will energize the local and international music scene,” they said.

This strategic alliance signifies a commitment to expanding Malta’s cultural offerings and enhancing the growth of its live music industry, creating a vibrant tourism draw.