Live Nation Urban announced on Friday that it has acquired significant equity stake in the DC-based music festival Broccoli City, whose founders, Brandon McEachern and Marcus Allen, are moving into executive roles at the major concert promoter. “We are not simply investing in a festival; we are investing in these amazing founders,” says Live Nation Urban president Shawn Gee in a release. “We believe this will be the first of many brands that we will build together with Marcus and Brandon as they have an insatiable entrepreneurial spirit. One of the core tenants of Live Nation Urban is identifying young black entrepreneurs in the live space and investing in their vision.”
The two companies have a relationship for years, but this deal represents a big step forward in their partnership. In 2018, Live Nation Urban helped the festival move to RFK Stadium’s grounds and score bigger acts, like Migos and Cardi B. Since its launch, Broccoli City has continued to grow each year, bringing more and more prolific artists, such as Summer Walker and Childish Gambino.The two companies now plan to expand Broccoli City on both a national and international scale, as well as create new content and events. Earlier this year, the brand launched BLK Change Weekend, a four-day campaign aimed at promoting Black culture through mobilizing youth, companies, and community organizations.
Before becoming Research Editor, Damare Baker was an Editorial Fellow and Assistant Editor for Washingtonian. She has previously written for Voice of America and The Hill. She is a graduate of Georgetown University, where she studied international relations, Korean, and journalism.
