Rock in Rio US partners with MGM, Cirque & Yucaipa for 2015 debut event
Robert Medina’s Rock In Rio festival will be held over two weekends in May 2015 in a brand new 80,000-capacity venue that will be built on the Las Vegas strip. In order to enhance the festival attendees experience, Rock In Rio has partnered with Vegas juggernauts MGM Resorts International, Cirque du Soleil, and Yucaipa Companies. Two separate agreements will be made between the four entities: in one arrangement MGM, Cirque, and Yucaipa will join forces to build the outdoor concert venue while Rock In Rio, Cirque, and Yucaipa will be equity partners in the US market. $20 million will be invested into the concert venue, which will be located on 33 acres of land on the corner of Sahara Avenue. Rock In Rio will be held every two years with 2015, 2017, and 2019 guaranteed. Cirque and Yucaipa have each acquired a 20% share of Rock in Rio USA and the estimated festival cost will be $45 million. Rock In Rio Las Vegas will also invest $30 million into radio, digital, mobile, print, cable, and other outlets to increase exposure surrounding its debut event. Over 120 acts will perform over 4 days and tickets will go on sale January 2015.
Via: Billboard Biz