European live music giant Superstruct Entertainment has acquired music platform Boiler Room from independent ticketing company DICE.
UK-born ticketing platform DICE acquired the UK’s Boiler Room, an electronic music-centric livestream platform, in 2021, just a week after it announced that it had raised $122 million in Series C funding.
DICE has raised more than $200 million in funding to date, including a $65 million round in August 2023, led by MUSIC, the investment company co-founded by Matt Pincus and LionTree. Other investors in that round were Structural Capital and Ahdritz Holding LLC, the investment vehicle for Willard Ahdritz, founder and chairman of Kobalt Music.
DICE’s Boiler Room divestment arrives six months after Bloomberg reported that DICE was in advanced talks to sell a significant stake in its company, potentially valuing it at “hundreds of millions of dollars.”
Boiler Room’s sale to Superstruct also arrives six months after the latter company was acquired by investment giant KKR from private equity firm Providence Equity Partners, in a deal the Financial Times reported was worth EUR €1.3 billion ( USD $1.39 billion).
KKR made the investment in Superstruct through its European Fund VI, an $8 billion fund that invests in the growth of “leading businesses”.
As part of the transaction, Providence had an option to invest €250 million (approx $267m) into Superstruct.
In October, investment firm CVC also invested in Superstruct, joining KKR‘s ownership of the European festival operator.
Boiler Room said that its team will remain responsible for leadership of the business under Superstruct’s ownership.
According to the official announcement, the platform will also “retain its identity with active support for their development through Superstruct’s global resources and expertise”.
In addition, DICE will remain the official ticketing partner for Boiler Room.
Founded by Blaise Bellville, Boiler Room broadcast events across 120 markets in 2024, and reports to have reached over a billion views online.
Blaise Bellville, Founder Boiler Room said: “As we turn 15 and enter our next stage of growth, we’re excited to be partnering with Superstruct for this chapter.”
“As we turn 15 and enter our next stage of growth, we’re excited to be partnering with Superstruct for this chapter.”
Blaise Bellville, Boiler Room
Added Bellville:”We feel in good company with their roster of brands, they offer us new opportunities to grow, whilst understanding the importance of staying true to the authenticity that, at its core, is what makes Boiler Room special.”
“We are proud to welcome the talented team at Boiler Room, who have managed to consistently grow the platform over the last fifteen years whilst maintaining a distinct cultural approach.”
Roderik Schlösser, Superstruct Entertainment
Roderik Schlösser, CEO Superstruct Entertainment, said: “We are proud to welcome the talented team at Boiler Room, who have managed to consistently grow the platform over the last fifteen years whilst maintaining a distinct cultural approach.
“This partnership perfectly aligns with Superstruct’s mission to celebrate and amplify cultures through creativity, collaboration, and live entertainment. Boiler Room is in the best position it has ever been and we are excited to support them in their promising future ahead.”
“Boiler Room is an incredible brand and the team is exceptional, creating cultural-defining moments time and time again.”
Phil Hutcheon, DICE
Phil Hutcheon, CEO/Founder DICE said: “Boiler Room is an incredible brand and the team is exceptional, creating cultural-defining moments time and time again.
“It has been a hugely successful three years and they have a great future ahead with Superstuct, a company we know very well.”Music Business Worldwide
