Remember a few days ago when we put this up: No. This is no bullshit. We know what you’re thinking and that it can’t be true, but it is. Insomniac has only sold half of the company over to them, for $50 million, according to the Wall Street Journal. Live Nation has brought other companies, Cream last year, and now, it slowly seems to be that they’re gaining a monopolistic grip on any EDM company. But what are your thoughts? Are you happy with this, saddened, angered? Do you think Insomniac sold out or benefited themselves? Tell us what you think? — Remember.
Well, I guess now. We got the real scoop. Pasquale Rotella, CEO and founder of Insomniac Events, commented on his Twitter account about the allegations toward Live Nation and said, “I’d only do a deal if it benefited the headliners. That’s just how it is…” the CEO tweeted, “If partnering with someone made Insomniac better I would do it. That’s the only way.” So, now we know: It’s not official.
Insomniac, without being over indulgent, has been one the key and successful promotion companies in EDM. However, when you gain any success, there’s bound to be backlash at it. However, Insomniac won’t bow down and just take any abuse lightly, especially with false accusations and exaggerations.
In an effort to guide the underdog companies, Insomniac Events has decided and announced that they are going to hold a conference about the EDM festival. Insomniac, noticing the obvious popularity surrounding the events will host a conference teaching all the industry ins and outs of throwing an EDM event. Guests speakers from Wall Street and many artists including, Joel Zimmerman, Steve Angello, and Jason Bentley are amongst that many scheduled to speak.