Live Nation Entertainment (LYV) - Get Report , in partnership with producers Andrew Hewitt and Bill Silva, inked a deal with the Los Angeles Philharmonic to win the exclusive promotional rights to all performances at the historic Hollywood Bowl outside the Phil's own shows, Variety reported.
The Philharmonic operates the Hollywood Bowl, where Hewitt and Silva have promoted shows for the past 27 years. The new deal will put Live Nation in partnership with the two promoters to amp up the 15 to 20 off-season shows the 18,000-seat Hollywood Bowl hosts each year. The deal will take effect January 1, 2018.
The Philharmonic's season runs from June through September, but notable names including Chance the Rapper, Coldplay, Tom Petty, the Rolling Stones, Sting and Andrea Bocelli perform when the Phil is off.
Live Nation stock traded up 1% to $37.73 per share mid-afternoon.
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