Entertainment agency WME is spearheading a $20 million funding round in Palm Tree Crew, a company co-founded by DJ and record producer Kygo. The investment aims to support the company’s expansion into new locations and to bolster its consumer products division.
Palm Tree Crew is known for its involvement in the festival and entertainment sectors, creating events that blend music, entertainment, and lifestyle brands. The new funding will enable the company to enhance its event offerings and develop additional consumer products tied to its brand.
The funding round highlights the growing interest in the festival and experiential entertainment markets, as companies look to expand their reach beyond live events into broader lifestyle and consumer engagement. WME’s involvement indicates a strategic move to strengthen Palm Tree Crew’s position within this competitive industry.
Kygo, a prominent figure in electronic music, co-founded the company to leverage his brand and influence in the entertainment space. With the new capital infusion, Palm Tree Crew aims to accelerate its growth and diversify its portfolio, aligning with industry trends toward integrated entertainment experiences.