Riff Producciones Enters Into Investment & Partnership Agreement With Superstruct Entertainment – Pollstar News

Superstruct Entertainment announced the acquisition of Riff Producciones in Spain.

Founded by Carlos Espinosa and Chris Ortiz in 1994, Riff is one of the most respected and dynamic companies in the Spanish music industry, having organized many tours for renowned national and international artists.

Riff also acts as a management and booking agency, and outside of Iberia also operates events in the U.S., Mexico, the U.K., and across most major markets in Latin America and Europe.

Among many other successes, Riff Producciones promotes the artists, who holds the Spanish attendance record: Manuel Carrasco holds the Spanish attendance record for his June 11, 2022 concert at Estadio de La Cartuja in Seville, which grossed $2,926,936 on 74,345 tickets, according to Pollstar Boxoffice reports. . He sold out the stadium once again a year later, at a slightly smaller capacity, but twice, selling 140,000 tickets and grossing $5,529,091. Her returned with the “Corazon y Flecha” last year (pictured), performing to 140,000 people across two nights, June 2-3, 2023.

As Riff co-founder Chris Ortiz told Pollstar earlier this year, the most difficult part of the job right now, was keeping up with the sheer volume of live entertainment offerings on sale at any given time. If people are keeping a tight budget in these uncertain times, they’re certainly not de-prioritizing live. At least that the impression Ortiz is getting, whenever going on sale these days.

‘The Volume Is Insane’: Q’s With Chris Ortiz, President, Riff Music

“We had a show in Seville with Melendi last night, an arena of 18,000 people, his biggest show ever in Seville, and probably twice the business he did on his previous visit,” he said, “The night before, there were 50,000 people in the stadium watching ESTOPA, another Spanish band, which has a very similar fan base to Melendi. Five years ago, having those two shows on the same weekend would mean that both would have suffered. Now we’re here, and they’re both sold out, both acts doing record numbers. One on a Saturday night, one on Sunday night, same weekend in a city that is not Madrid or Barcelona.”

And Ortiz continued, “We’ve all been expecting a slowing in sales, because of the inflation, as interest rates are going up, and people are paying more on their mortgages, they’re paying more in the supermarket. But they’re continuing to spend record amounts in live music.”

Superstruct got acquired by KKR this summer, and received undisclosed amount of investment from private equity firm CVC last month, as well.

Roderik Schlösser, CEO of Superstruct Entertainment, commented: “We are thrilled to integrate Riff Producciones into our global network. Their legacy of excellence and commitment to quality event production in Spain is unparalleled. Together, we can continue to provide unforgettable experiences to millions of people.”

Carlos Espinosa, director of Riff Producciones, added: “This alliance with Superstruct is a recognition of the hard work and dedication of our team over three decades. Both companies share a common vision of raising the standards of live music, and we are confident that this partnership will open new doors to continue creating unique shows in Spain and beyond.”

Riff’s leadership team will remain responsible for day-to-day management of the business under Superstruct’s ownership, and it will retain its identity. Superstruct, which has a portfolio of over 85 festivals and various other live events globally, will support Riff’s further development with its global resources and expertise.

Find out more about the current state of business in Spain in Pollstar’s 2024 Spain Focus.

Subscribe to Pollstar HERE