fbpx

Live Nation Opens New Venues As Concerts Come Back

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on whatsapp

by Dan Runcie

Every Monday, Trapital's free weekly memo will give you insights on the latest moves in the business of hip-hop. Join 10K+ readers who stay ahead of all the trends:

In the past few weeks, Live Nation announced plans to open three new venues:

– The Terminal: 5,000-person in Houston (Live Nation)

– History: 3,500-capacity in Toronto with Drake

– Performance Venue: 6,000-capacity in Los Angeles

These venues emerge as demand for live events is higher, but supply is lower since the pandemic forced many independent venues to shut down.

In December, the SBA launched the $16B Shuttered Music Venues Operators Grant, but it took six months for funds to be distributed to just . In January, in the U.S. that have shut down since the pandemic started, and more have likely shut down since.

Both Live Nation and AEG have made the right call to step in and meet demand with new venues. But it’s still bittersweet to think about the smaller businesses that didn’t make it.

The next level up. Major promoters already control most 10,000+ capacity arenas, amphitheaters, and stadiums. Very few of those have shut down since they are owned or co-operated by the major promoters. But smaller music halls, ballrooms, and auditoriums were next up.

This venue size is perfect for rising stars to reach their audience, or smaller acts to perform for a smaller audience. Personally, this is my favorite venue size: big enough to feel the energy, small enough to feel intimate.

Read more about the struggle for indie music venues in

Dan Runcie

Dan Runcie

Founder of Trapital

Want more? Trapital's free Monday memo will keep you posted on the latest trends in the business of hip-hop:

Like this memo? Share it!

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
"The stuff that Trapital puts out is fantastic. Really interesting insights into the industry, artists trends, and market trends."
Mike Weissman
CEO, SoundCloud
“You tell the true stories. Not just the end product, but how you get to the end product. Your point of view on it is dope.”
Steve Stoute
CEO, UnitedMasters and Translation