Next year’s Broccoli City Festival is already poised to be its biggest festival to date!
On Friday, Live Nation Urban announced it had acquired the “significant equity stake” in the festival and added its founders, Marcus Allen and Brandon McEachern, to executive roles within the company.
“We are not simply investing in a festival; we are investing in these amazing founders,” Live Nation Urban President Shawn Gee said in a press release.
Broccoli City Festival has been occurring in Washington, D.C., since 2013 to benefit and inspire local youth and communities to create a “racially equitable” world and aid the D.C. community.
According to the website, the festival is “a Black-owned social enterprise rooted in a double bottom line strategy that focuses on people and progress,” which often includes events such as a career fair and 5K fitness run, as well as heavy-hitting headliners, with last year featuring 21 Savage, Ari Lennox, and Gunna, among others.
Now, Live Nation Urban is aiming to expand and grow the festival to reach and aid more people than it ever has before.
“We believe this will be the first of many brands that we will build together with Marcus and Brandon as they have an insatiable entrepreneurial spirit,” Gee said. “One of the core tenants of Live Nation Urban is identifying young black entrepreneurs in the live space and investing in their vision.”