Kygo’s Palm Tree Crew Buys Stake in Celebrity Live Events Producer Medium Rare as Investors Flock to Experiential Businesses (EXCLUSIVE)
variety.comCynthia Littleton Business Editor Medium Rare, the live events and management company behind such franchises as Travis Kelce’s Kelce Jam and Shaquille O’Neal’s Fun House carnival-style festival, has received an investment from Palm Tree Crew that values the company at $50 million.
Financial details about the size of the investment were not disclosed. Palm Tree Crew is an event, artists management and holding company that invests in firms that complement its core activities, which include the Palm Tree Music Festival.
Medium Rare began operations in 2019 after being founded by Live Nation alums Joe Silberzweig and Adam Richman. Palm Tree is run by Norwegian DJ and producer Kygo and Myles Shear, Kygo’s longtime manager and business partner.
Medium Rare’s focus is on producing celebrity-driven events that drive ticket sales and big sponsorship dollars. Medium Rare’s goal is to host eye-popping events that yield branded digital and social media content for sponsors and brand partners.
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