Promoter plans to vary the venue’s title, which is owned by Live Nation
After three a long time as an unbiased venue, the Electric Factory in Philadelphia was bought by AEG Presents in a deal introduced earlier at the moment (Sept. 12). As a part of the sale, AEG will seek for a brand new title for the three,000-capacity membership — the Electric Factory model is owned by Live Nation, who bought the promotion enterprise in 2000 in the course of the SFX roll up, however not the precise Electric Factory venue.
For now the venue will likely be known as North Seventh, a nod to its tackle at 421 N seventh on the town’s east facet, blocks from the Festival Pier and RiverRink at Penn’s Landing. AEG could not work out a licensing deal for the title and brand that options kite-flying Founding Father Benjamin Franklin and can changed it with a reputation from a promotion that features the prospect to win free two tickets to each present on the venue via 2020 (in case you stay in Pennsylvania, New Jersey or Delaware).
The sale comes three years after AEG signed the unique rights to e-book the Electric Factory and the Underground Arts. AEG Present’s venue roster in Philadelphia additionally consists of the Keswick Theatre, Union Transfer and the 13,000-cap Mann Center for the Performing Arts.
“What a trip it has been,” stated Larry Magid, head of Electric Factory and Electric Factory Concerts in an announcement to Billboard following the announcement he and associate Adam Spivak had offered the membership, which will likely be managed by AEG’s Bowery Presents.
“We would like to thank the hundreds of thousands of fans who have attended the over 2,500 shows at Electric Factory from its original location at 22nd and Arch from 1968-1970 to its rebirth in 1995 at 7th and Willow,” Magid said in a statement. “A special thanks to all the employees, old and new, that have worked at the Factory over the years and to the great acts who have graced our stage, it’s been our privilege to work with you.”
The Electric Factory has hosted reveals by Jimi Hendrix, Janis Joplin, Frank Zappa, Van Morrison, Cream, Rod Stewart, BB King, The Grateful Dead, Neil Young, Bruce Springsteen, Prince, Bob Dylan, Adele, Radiohead, Lady Gaga, David Bowie, Amy Winehouse, and lots of others
“This will not be a retirement name,” stated Magid, “however a continuation of the previous eight years as Larry Magid Entertainment Group producing nationwide and worldwide excursions and Broadway reveals along with our live performance enterprise.”
Magid has produced Live Aid and Live 8, Billy Crystal’s record-breaking “700 Sundays” particular in addition to “Beautiful — The Carole King Musical.” Spivak will proceed to function associate Underground Arts and Bonfire Entertainment, in addition to his reald property agency Shovel Ready Projects, LLC.
“In the spirit of recent beginnings, Adam and I want AEG nice success with our child in addition to Live Nation with their opening of The Met Philadelphia later this 12 months,” Magid stated in an announcement. “50 years in the past we blazed a path and we really feel very comfy that the custom of nice music in one of many biggest music cities on the planet will likely be effectively represented and can proceed for a few years to come back. Thank you for all of your assist via the years!”
