| Type | Private |
|---|---|
| Industry | Music |
| Founded | 1968 |
| Headquarters | Philadelphia, Pennsylvania |
| Key people | Larry Magid |
| Products | Concerts |
Electric Factory Concerts is the name of a longtime Philadelphia-based concert promotion firm, affiliated with the Electric Factory venue in that city and also owned by Larry Magid.
Its first concert staging was on February 2, 1968, at the old Electric Factory and featured The Chambers Brothers.[1] It survived the closing of the original Electory Factory venue and went on to prosper.[2] It became prominent in promoting concerts at all venues in the Philadelphia area,[3] including many at the Philadelphia Spectrum.[4]
In late 1975, Electric Factory Concerts bought the Tower Theater from its owner Midnight Sun. About a year later, Midnight Sun commenced an anti-trust action against Electric Factory and its secret concert partner, Spectrum Corporation, in the United States District Court for the Eastern District of Pennsylvania. The suit dragged on for several years and was eventually settled for approximately $1 million, as reported in Rolling Stone and the Philadelphia newspapers. A later anti-trust suit by rock promoter Stephen Starr against Electric Factory Concerts was also settled for the same amount in 1990, which then financed Starr's rise as a star in the restaurant industry.
The firm gained national renown.[1] It played a role in staging 1985's Live Aid[1] and 2005's Live 8 concert, Philadelphia.
Electric Factory Concerts was subsequently purchased by Clear Channel and now operates as Live Nation/Electric Factory Concerts. They remain the dominant Philadelphia concert promoter.