SOFIA, Bulgaria (CelebrityAccess) – The Sofia-based Fest team will significantly expand its presence in Eastern Europe, the Balkans, Turkey and the Baltic States through the acquisition of renowned promotion and engagement agency Charmenko. This strategic move will see Fest Team acquire Charmenko’s divisions Charm Music and Charmworks, thereby increasing its presence in the regional music industry. A final contract is expected to be signed later this summer.
Fest Team, Bulgaria’s largest music promoter, is known for organizing major events such as the Sofia Solid concert series, Hills of Rock Festival and Spice Music Festival. The events attract more than 200,000 fans each year and include high-profile acts such as Ed Sheeran “Iron Man” girl, and arctic monkeys.
The acquisition of Charmenko is seen as a transformation opportunity for Fest Team. Stefan Elenkov, Fest Team CEO highlighted the strategic benefits, saying: “The acquisition of Charmenko is a transformative opportunity for the Fest Team. We are honored to partner with such a popular and respected company in the music industry. I believe that by combining the Fest Team with the best in organizing large-scale music events Combining his expertise and professionalism with Charmenko’s strong connections and over 30 years of experience and industry knowledge, we will be able to create a synergy that will redefine the music landscape in Eastern Europe.”
Charmenko has a strong presence in all Eastern European markets and will provide the Fest team with greater access to the region’s diverse musical talent and markets. Elenkov emphasized that the acquisition will enable Fest Team to provide audiences with a more comprehensive music experience and promote cultural exchanges. He pointed out, “This strategic alliance will help us fully connect artists with venues and festivals and provide end-to-end solutions to enhance the performer and audience experience.”
founder: Nick Hobbs, Charmenko has been a key player in the music promotion industry, particularly known for its rapid return to pre-pandemic business levels and expansion since 2021. “I feel it is time to join a larger Eastern European organization that provides promotion, artist engagement and quality services to the entertainment industry across the region, an organization that knows how to combine creativity, synergy and professionalism with long-term strategy. and putting artists, audiences, and customers at the heart of our mission.
With Fest Team’s extensive experience in organizing large-scale music events and Charmenko’s deep industry connections and expertise, this acquisition is sure to have a significant impact on the Eastern European music scene. The combined strengths of both companies are expected to foster better connections between artists and venues, leading to a more prosperous and diverse music experience for audiences across the region.