German pan-European festival and concert promoter FKP Scorpio has relinquished its stake in Danish festivals Northside (cap. 30,000) and Tinderbox (40,000).
The company was the part-owner of Northside, which was launched in 2010 by Brian Nielsen and Flemming Myllerup, and linked-up with Nielsen again – then of agency Skandinavian – and Mads Sørensen of Beatbox Entertainment to create Tinderbox in 2014 (see Audience issue 176).
Despite selling its shares in both events to promoter Down the Drain Productions, which now owns 100 per cent of the festivals, FKP says Beatbox, in which it is a minority shareholder, will still book acts for the events.
“We would like to thank the Danish team for their good collaboration so far and are happy that we will continue to cooperate with Mads and the rest of the Beatbox Entertainment team,” says FKP CEO Folkert Koopmans.
The launch of Tinderbox was not without controversy, as four of its festival rivals – Roskilde (115,000), Smukfest (55,000), Jelling (25,000) and Nibe (14,000) – claimed the dual role of Beatbox and Skandinavian as festival promoters and booking agents was a conflict of interest.
As a result the four festivals boycotted acts from Skandinavian, forcing Nielsen and Myllerup, who founded the agency in 2004, to sell their shares in the company.
“Nothing is going to change in terms of the festivals and it will still be business as usual,” Sørensen tells Audience. “And both festivals will sell-out.”
Down the Drain CEO Nielsen adds, “We have long wanted to consolidate the festivals under the Down the Drain umbrella and we are pleased that it has fallen into place.”
Acts playing Northside include Liam Gallagher, Bjork and The National while Depeche Mode, Jack White and Biify Clyro will perform at Tinderbox.