Sony Music Masterworks, a division of Sony Music Entertainment (SME), has acquired a majority stake in Barcelona-headquartered Proactiv Entertainment, a producer of live music and experiential events worldwide.
In a statement issued Thursday (May 18), Masterworks described the acquisition as “the latest in a series of strategic partnerships and agreements advancing Sony Music Masterworks’ growth as a multi-faceted worldwide entertainment business.”
As part of the deal, Proactiv’s Managing Director, Nicolas Renna, will continue to lead the business.
His father, Horacio Renna, launched the company in 1987, and it has since become a major player in the live entertainment space, producing performances in Spain by Andrea Bocelli, Malu, Juan Luis Guerra and others.
The company is also known for its productions based on international IP, such as Hamilton, Disney on Ice, The Lion King, WWE Live, Monster Jam, Harry Potter In Concert, Star Wars In Concert and Peppa Pig, among others.
Masterworks has been following a consistent strategy of partnerships and acquisitions in recent years.
In 2018, it bought a stake in – and eventually acquired all of – Raymond Gubbay Ltd, the concert and promotion company formed by the London impresario of the same name.
The company specializes in combining special effects with classical music to create such shows as John Williams Spectacular, Zimmer vs. Williams and Sci-Fi Spectacular.
The following year, Masterworks bought Los Angeles-headquartered Milan Records, which specializes in film and TV soundtracks. Milan released the soundtracks to Ghost, Backdraft, Deadpool, The Revenant and many other other movies. Among its first projects under the Masterworks umbrella was the soundtrack to HBO’s Succession.
That year it also acquired UK-headquartered Senbla, a concert promotion and production company that had worked with artists including Ennio Morricone, Soft Cell, Burt Barcharach and Sophie Ellis-Bextor, among others.
“With the support of Mark Cavell and the rest of the team across SME’s global network, we will access new territories, grow our portfolio of properties and generate emotions to new audiences.”
Nicolas Renna, Proactiv Entertainment
In 2020, Masterworks inked a strategic partnership with classical music publishing company Wise Music Group. At the time, the London-headquartered company owned or controlled some half a million copyrights and represented nearly 100 composers and songwriters working in classical music, opera, ballet, film, TV and advertising.
That was followed up in 2022 with Masterworks’ acquisition of a majority stake in MAC Global, a Dubai-headquartered concert promotion, events, talent management and production company. The company produces concerts across the UAE, Bahrain, India, Oman, Qatar and Saudi Arabia, and works with clients such as the Dubai Opera and Saudi Aramco.
Masterworks’ acquisition of Proactiv was facilitated by Broadway dealmaker Lisbeth R. Barron, through her firm Barron International Group LLC. Barron initiated the transaction, and represented Proactiv as its strategic and financial advisor.
“Today starts a new era of success, made even greater by a partner with such great history and world-class capabilities.”
Horacio Renna, Proactiv Entertainment
The deal with Masterworks will “take Proactiv Entertainment’s business to the next level and help more leading artists and brands connect with fans through high-quality productions globally,” Sony Music Masterworks President Mark Cavell said in a statement.
“They have a strong vision and key creative relationships around the world. Taken together with Sony Music’s expertise, resources, and broad portfolio of live entertainment properties, we look forward to creating even more innovative live experiences for audiences everywhere.”
Masterworks and Proactiv “share vision and values, and we are firmly committed to creating a global leader in production and promotion of live experiences,” Nicolas Renna said.
“With the support of Mark Cavell and the rest of the team across SME’s global network, we will access new territories, grow our portfolio of properties and generate emotions to new audiences.”
Proactive founder Horacio Renna added: “Today starts a new era of success, made even greater by a partner with such great history and world-class capabilities.”Music Business Worldwide
