Finally, an answer to one of life’s great questions: can $45 million fit in the waistband of a man’s G-string?
That would be a yes, as Channing Tatum’s experiential business Free Association Live has pulled off a significant capital raise to fund the global expansion of “Magic Mike Live” – a theatrical revue of skilled and sexy male dancers adapted from Tatum’s film franchise “Magic Mike.”
FA Live, co-founded by Tatum, Peter Kiernan, Reid Carolin, and Vincent Marini, has raised $45 million in debt and equity financing to mount more “Magic Mike” shows around the world. The experience has already staged sold-out runs in London and Las Vegas, with New York and Australia up next. A multi-year tour across Asia and Europe is also in the works.
The fundraise includes a strategic investment from Jeff Bewkes and Kevin Tsujihara’s consistency Growth, a media and entertainment investor, and debt financing from East West Bank.
“Our incredibly successful and beloved London and Las Vegas experiences have made it clear that ‘Magic Mike Live’ has tapped into something powerful,” said Kiernan, CEO of FA Live. “This investment comes at a pivotal moment for the company — it enables us not only to expand the IP globally, but also to think more ambitiously about how we leverage our track record and infrastructure in live entertainment to develop new IP, new formats, and bold new ways of engaging audiences worldwide.”
Since its debut in 2017, the live show has entertained over 2 million guests from 70+ countries with over 6,000 performances across engagements in Miami, Dallas and Berlin. Earlier this year, Tatum appeared on “Today’ to announce the NYC residency, which counts strong pre-sales for its October debut. Tatum has also personally invested in this latest raise for FA Live, which operates independently from his film and TV production company. FA Live also counts COO Kosha Shah Eisenberg and chief brand officer Cody Carolin.
“Experiential entertainment continues to be one of our highest-conviction investment themes, fueled by a sustained shift toward immersive, memorable experiences over material goods,” said Tsujihara, managing partner at consistency Growth. “FA Live has built one of the most successful live entertainment franchises of the past decade.”
East West Bank managing director Todd Steiner said the institution was “excited to partner with FA Live as they expand. As the largest independent bank headquartered in Southern California, East West Bank brings decades of experience in developing financing strategies tailored to the unique creative and operational complexities of the entertainment industry.
Next in development is a collaboration with Lionsgate on a live show inspired by the “Step Up” film franchise, set to debut in 2027.
The Raine Group, Eisner Law, and VirtuGlobal served as advisors to FA Live, which is repped by CAA. Granderson De Rochers served as advisor for consistency Growth and Loeb & Loeb served as advisor to East West Bank.
Source: variety.com
