CrowdSource purchases majority ownership of untapped festivals

Among the goals we had when we formed CrowdSource was to extend our reach into certain consumer segments like millennials and to create or acquire events that could scale. With Untapped, we accomplish both.”

Jim Moroney, The Morning Morning News

CrowdSource, the event marketing company of The Dallas Morning News, has  purchased majority ownership of Untapped, the Indie Music and Craft Beer festival. Untapped festivals, which focus on providing attendees with quality music and a large craft beer selection, are held in Dallas, Fort Worth and Houston, and also include the Canned Festival held in Denton, Texas.

The acquisition of Untapped provides CrowdSource a cornerstone event to build from in the entertainment industry. CrowdSource believes this relationship will open the door for future joint ventures.

"With the purchase of Untapped, we've gained a tremendous series of events, said Alison Draper, general manager of CrowdSource. "While we have no intention of changing these popular festivals, we are eager to get to work with the team at Untapped to grow the brand and further enhance the attendee experience."

CrowdSource will partner with the founders of Untapped, Spune Productions, a music production and entertainment promotions company, and Corey Pond, owner of The Common Table, a Dallas-based restaurant and bar that supports live music and the growth of craft beer, to produce the Untapped festivals.

"Untapped started as something selfish for its founders. While we created the event for ourselves and based it on our personal interests, we quickly discovered it was something much more significant. Untapped was, and continues to be, cultural by nature and deeply meaningful for attendees," said Matthew Harber, chief executive officer of Spune. "Partnering with CrowdSource will provide us with the resources to realize our dream of growing this event regionally and nationally. We could not be more excited."

Since its founding, Untapped has been designed to attract attendees with great bands and exceptional craft beer, an uncommon balance not typically found at other regional events. With more than 4,500 people in attendance, the 2013 Untapped Festival in Dallas featured more than 70 breweries and performances from eight bands. Many local vendors and food trucks also participated.

"Among the goals we had when we formed CrowdSource was to extend our reach into certain consumer segments like millennials and to create or acquire events that could scale. With Untapped, we accomplish both," said Jim Moroney, publisher and chief executive officer of the Morning News. "We are looking forward to growing this event in markets where it already exists and into new markets, as well."

The 2014 Untapped Festival in Dallas will be held on Nov. 1 and coincides with North Texas Craft Beer Week. In addition to the Morning News' recently-launched craft beer blog, the largest newsroom in North Texas also plans to create a guide to the more than 300 events in the Metroplex that week.