{"id":233648,"date":"2025-06-10T18:54:21","date_gmt":"2025-06-10T17:54:21","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=233648"},"modified":"2025-06-10T22:44:01","modified_gmt":"2025-06-10T21:44:01","slug":"live-nation-to-invest-1-billion-in-new-and-renovated-venues-in-the-us-over-the-next-18-months1","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/live-nation-to-invest-1-billion-in-new-and-renovated-venues-in-the-us-over-the-next-18-months1\/","title":{"rendered":"Live Nation to invest $1bn in US music venues over next 18 months; says it ‘invested $14bn in artists’ globally in 2024"},"content":{"rendered":"

Live music giant Live Nation plans to invest $1 billion in 18 new and renovated venues across the US over the next 18 months, stressing the positive impact of the investment on the US economy.<\/p>\n

The new or refurbed venues, ranging in size from intimate clubs to large amphitheaters, are in markets ranging in size from large cities like Denver, Pittsburgh and Seattle, to smaller markets like Allentown, Pennsylvania, Birmingham, Alabama, and Riverside, Missouri.<\/p>\n

It\u2019s part of Live Nation\u2019s ongoing strategy to build a network of owned-and-operated venues, of which the company now owns 150<\/strong> in the US, or about 4%<\/strong> of all music venues across the country.<\/p>\n

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The idea for the venue investment is to bring \u201cmore big shows to smaller cities across America,\u201d Live Nation said in a statement on Tuesday (June 10).<\/p>\n

\u201cOur mission is simple: help artists deliver more unforgettable live experiences \u2013 and in doing so, create jobs, revive cities, and lift up the communities we touch,\u201d CEO Michael Rapino<\/strong> said.<\/p>\n

\u201cAs an American company, we drive impact here at home while also helping elevate and export the very best of what this nation represents: freedom, creativity, grit, and boundless possibility.\u201d<\/p>\n

Live Nation also cited a series of stats in its announcement today (June 10) to support its claim of being “the largest investor in artists globally.”<\/p>\n

According to Live Nation, it “invested $14 billion in artists” in 2024 (i.e., what it spent on putting on artists\u2019 shows), which it reports was “more than triple the $4.4 billion invested<\/a> in 2016″.<\/p>\n

The company said that this investment “supports headliners and rising stars, with a 25% increase in payouts to club and theater acts since 2019 alone”.<\/p>\n

Live Nation also said that it supported over 9,000 developing artists through its On The Road Again<\/a> program, which allows artists to keep 100% of their merchandise revenue. Live Nation said that the program has “returned tens of millions of dollars” back to artists.<\/p>\n

The number of touring artists supported by Live Nation “surged” nearly 60% from 8,200<\/strong> in 2016 to 13,000<\/strong> in 2024, according to the company.<\/p>\n

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Meanwhile, on the venue front, the company\u2019s leadership team has been pointing to what it sees as a dearth of venues in secondary cities in the US, leading to the phenomenon of \u201csemi-residency\u201d \u2013 major artists holding large numbers of shows in a relatively small number of locations, forcing fans to travel long distances to see their favorite acts. Or, as CFO Joe Berchtold<\/strong> recently described it<\/a>: \u201cPick a few cities, do a large number of stadiums.\u201d<\/p>\n

\u201cEvery fan deserves access to unforgettable live music \u2013 without having to drive hours to a major city,\u201d Live Nation said, underscoring its \u201ccommitment to expanding into smaller, underserved music markets.\u201d<\/p>\n

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The company is also stressing the economic impact of its investment, citing research from Oxford Economics<\/strong> that estimates the $1 billion investment will lead to $2.9 billion<\/strong> in economic activity, including spending on engineering, development, and construction. Once the venues are operational, they will represent $1.4 billion<\/strong> in annual economic activity for the 18 communities.<\/p>\n

Additionally, the company said it\u2019s \u201ccontinuing efforts\u201d to deliver 1 million<\/strong> tickets under $30<\/strong> to summer shows, part of an ongoing effort to counter perceptions among consumers that the company, particularly its ticketing division, Ticketmaster<\/strong>, is gouging consumers.<\/p>\n

\u201cOur mission is simple: help artists deliver more unforgettable live experiences \u2013 and in doing so, create jobs, revive cities, and lift up the communities we touch.”<\/p>\n

Michael Rapino, Live Nation<\/span><\/p><\/blockquote>\n

Despite complaints from some fans about high prices for tickets to certain shows, Live Nation says 65%<\/strong> of tickets the company sells are under $100<\/strong>, while just 2%<\/strong> sell for more than $500<\/strong>.<\/p>\n

Live Nation stressed its role as an employer, noting that its venues have hired 37,000<\/strong> people across the US, enforcing a $20<\/strong> minimum wage for most positions, and the new investment in venues will spur the creation of 15,000<\/strong> jobs in construction and related activities.<\/p>\n

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It also noted its role as a driver of US music exports.<\/p>\n

\u201cIn 2024, Live Nation promoted tours for 400<\/strong> American artists on global stages, reaching over 16 million<\/strong> fans \u2013 a 250%<\/strong> increase since 2016. These tours generate significant revenue for the American economy, while also expanding the reach and influence of American music worldwide,\u201d the company said.<\/p>\n

Several elected officials thanked Live Nation for its efforts to bring new venues to their cities, including Memphis Mayor Paul Young<\/strong>, who called Live Nation’s new Satellite Music Hall<\/strong> development \u201creally, really important for our city,\u201d and New York Mayor Eric Adams<\/strong>, who lauded the company for its redevelopment of the iconic Brooklyn Paramount<\/strong>, which opened as a live music venue last year.<\/p>\n

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Source: Live Nation<\/figcaption><\/figure>\n
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\u201cBrooklyn Paramount will bring the best and brightest talent to Brooklyn, serving as both a major tourist attraction and venue for local New Yorkers,\u201d Adams said.<\/p>\n

Speaking about the Riverside Amphitheater<\/strong>, set to open in 2026 in Riverside, Missouri, the city\u2019s mayor, Kathy Rose<\/strong>, said: \u201cWe\u2019re so excited for the arrival of Riverside Amphitheater, which will elevate the area\u2019s concert scene to new heights. Thank you to Live Nation for this investment in our community. These events will draw guests into the venue from both near and far while creating wonderful new memories.\u201d<\/p>\n

Live Nation\u2019s venue investments come as the company continues to defend itself against an antitrust suit brought by the US Department of Justice and dozens of state attorneys general, alleging that the company abused its dominant position in live music to engage in anticompetitive practices. A federal judge in March rejected<\/a> Live Nation\u2019s motion to dismiss two parts of that lawsuit.<\/p>\n

The 18 markets where Live Nation is planning to open venues in the next 18 months are listed below.<\/p>\n