Final 12 months, the annual Vegas competition was acknowledged as certainly one of the highest-grossing festivals nationwide.
The Hollywood Reporter mum or dad firm Penske Media and sister model Rolling Stone have acquired a majority curiosity within the music, artwork and concepts competition Life is Stunning, held yearly in Las Vegas, Nev., it was introduced Friday.
The competition, based in 2013, has hosted over 1 million followers and 600-plus artists. For final 12 months’s three-day competition, which featured headliners Billie Eilish, Inexperienced Day and Tame Impala, over 170,000 attended, marking certainly one of the highest-grossing festivals in 2021 nationwide.
“Reside occasions are an integral a part of Rolling Stone’s future and Life is Stunning is an unbelievable platform to appreciate this imaginative and prescient. Coupled with our important digital scale and deep journalism, there are infinite prospects to develop Life is Stunning in distinctive and impactful methods,” stated Rolling Stone CEO, Gus Wenner.
The competition was based in 2013 by Tony Hsieh, former CEO of Zappos and visionary entrepreneur, as a part of a imaginative and prescient to remodel Downtown Las Vegas as a cultural hub. 9 years later, the competition has since contributed over $350 million dollars in financial affect and cultural capital into the town and the encircling space. Hsieh handed away final 12 months.
“I'm grateful to have labored with Tony on this partnership and am proud to have Rolling Stone assist carry ahead his mission,” stated Wenner.
“Tony understood that his potential to alter individuals’s lives was magnified exponentially by his potential to deliver good, motivated, people-focused entrepreneurs collectively,” stated Richard Hsieh, Tony’s father. “The Life Is Stunning competition is likely one of the biggest manifestations of Tony’s need to deliver individuals collectively.”
Rolling Stone has plans to broaden the competition’s digital footprint and broaden it into new territories whereas persevering with to focus on musicians and artists and supply publicity to new cultural experiences. Phrases of the deal weren't disclosed.
David Oehm, CEO of Life is Stunning, stated in a press release, “We're thrilled to appreciate the potential of Life is Stunning in partnership with Rolling Stone. As a landmark establishment and touchstone of the music trade for over 50 years, the Rolling Stone crew will assist to deepen our connection to followers of music in all places, whereas additionally championing the cultural initiatives that make Life is Stunning a lot greater than a music competition.”
Final month, Penske Media acquired The American Pavilion on the Cannes Movie Pageant. Penske Media acquired South by Southwest competition in Austin, Texas, final April.