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Live Nation to Spend $1B on Venues for Underserved Markets
Live Nation Entertainment said it would invest $1 billion to build 18 new and revitalized live music venues with the goal of bringing more big shows to smaller cities across the U.S. Citing data from Oxford Economics, Live Nation said the investment will spur $2.9 billion in total economic impact, including spending on engineering, development and construction, along with $1.4 billion in annual economic impact for local communities once the venues begin operating.
Over the next 18 months, the Los Angeles-based company will break ground on venues ranging from intimate clubs to outdoor amphitheaters. On the development roster are venues in Birmingham, AL; Denver, CO; Orlando, FL; Atlanta, GA; Indianapolis, IN; Portland, ME; Shakopee; MN; Riverside, MO; Raleigh, NC; Portland, OR; Allentown and Pittsburgh, PA; Memphis and Nashville, TN; Richmond and Virginia Beach, VA; Seattle, WA; and Milwaukee, WI.
“Our mission is simple: help artists deliver more unforgettable live experiences – and in doing so, create jobs, revive cities and lift the communities we touch,” said Live Nation CEO Michael Rapino.
Rendering of Live Nation Riverside Amphitheater courtesy of Arco Construction.
- ◦Development
