They are two of the most important festivals in Spain of electronic music. The collaboration is oriented to the generation of contents.
Sónar has announced in a statement that it has entered the shareholding of the Madrid’s Paraíso Festival, without specifying the economic scope of this agreement that was signed last week between Advanced Music SL (Sónar) and Paraíso Sonoro SL. It is underlined that the collaboration is destined "to the development of contents and the creation of joint strategies".
The aforementioned agreement does not affect the directives of two of the most important electronic music festivals in Spain. From the Madrid festival, Jose Moran, Ana Sanabia and Nacho Santos, said in the aforementioned statement that "we are sure that this strategic alliance will be very positive for the development of Paraíso and its positioning in the national and international market. We share something essential, the love of music and the way of understanding this industry. "
The Paradise Festival will celebrate its second edition on June 14 and 15 with artists such as Solomvn, Churches, Charlotte Gainsbourg or Peggy Gou. Sónar, a Barcelona festival, celebrates its 26th edition with A$AP Rocky, Bad Bunny, Arca, Four Tet or Paul Kalkbrenner.
The market for purchases and sales in the live music sector in Spain is burning. Last year, the US investment fund Providence Equity Partners became a shareholder of Sónar.