Penske Media & Rolling Stone Acquire Las Vegas’ Life Is Beautiful Festival

deadline.com:

Penske Media subsidiary Rolling Stone has acquired a majority interest in Life is Beautiful, the music, arts and ideas festival held annually in Las Vegas, Nevada.Former Zappos CEO and visionary entrepreneur Tony Hsieh founded the festival in 2013, as part of his vision to transform and revitalize the underserved Downtown Las Vegas community.

In the nine years since, it has played host to 600-plus artists and more than 1 million fans, injecting upwards of $350M in economic impact and cultural capital into Downtown Las Vegas and the surrounding area.

The most recent edition of the three-day festival, headlined by Billie Eilish, Green Day, and Tame Impala, was attended by an audience of more than 170,000, coming in as one of the highest-grossing events of its kind in the nation in 2021.Rolling Stone plans to expand Life is Beautiful into new territories and broaden its digital footprint.

Together, Rolling Stone and Life is Beautiful will continue to highlight the most important musicians and artists of today, offering exposure to new cultural experiences and contributing to a more beautiful world.