Live Nation Entertainment is expanding its presence in two markets, announcing major venue investments in South Africa and Portugal.
In South Africa, Live Nation and South African Stadium Management and south african gear factory start up domea new venue will open in January 2025. FNB StadiumLive Nation said the venue will be its first permanent venue in Africa and the “largest purpose-built live entertainment space” in South Africa.
Capacity exceeds 10,500the dome will be a multi-purpose venue spanning 6,000 m2 and is designed to host concerts, conferences, exhibitions and product launches. The venue will focus on genres such as Afrobeats, Appiano, Dance, Pop, Hip-Hop and R&B and feature Nigerian stars tems Confirmed to headline the show on March 20, 2025.
“The Dome fills a critical gap in South Africa’s live entertainment scene, creating a unique space that supports pan-African talent. The venue will provide new opportunities to connect emerging and established artists with new South African fan bases. justin truck VicCEO of Live Nation South Africa.
Bertie GrobbelaarThe CEO of Stadium Management South Africa, which oversees the venue’s management, said: “Partnering with Live Nation and Gearhouse South Africa embodies our shared vision to not only deliver world-class events, but also empower local talent, drive economic growth and create opportunities in Johannesburg and Gauteng creates a vibrant cultural hub.
“The Dome fills a critical gap in South Africa’s live entertainment scene, creating a unique space that supports pan-African talent.”
Justin Van Wyk, Live Nation South Africa
Live Nation, meanwhile, is expanding its European footprint by acquiring a majority stake in Lisbon. MEO Arenaone 20,000– Capacity Venue, formerly known as Altis Arena. Since opening in 1998 during the Expo 98 world trade fair, the venue has hosted international stars such as Harry Styles, Dua Lipa, Adele, Andre Rieu, and Travis Scott.
The investment includes planned renovations to upgrade premium seating, skyboxes, locker rooms and concessions facilities. Live Nation said it will also strengthen its sustainability efforts at venues to fulfill its “Green Nation” commitment.
Live Nation cites a Deloitte report highlighting the economic potential of MEO Arena, estimating that arena performances contribute nearly 400 million euros ($422 million) to the Lisbon economy in 2018 and 2019 alone.
john reedLive Nation President EMEA said: “Lisbon is one of the most exciting capitals in Europe and we are honored to be part of its cultural fabric. With this investment, we are committed to bringing more shows to Portugal , supporting the local economy and creating incredible experiences for fans.
“Through this deal we hope to cement the venue’s reputation as a cultural destination and we believe Live Nation is the right strategic partner to achieve this.”
Jorge Viña da SilvaMEO Arena
Jorge Viña da SilvaMEO Arena CEO added: “MEO Arena is well-known both nationally and internationally for hosting Portugal’s biggest shows and events. Through this deal we hope to solidify the venue’s reputation as a cultural destination and we believe Live Nation is well placed to achieve this goal The right strategic partner. I am very happy to enter this new era, not only for MEO Arena but also for Portugal.
The acquisition of a majority stake in MEO Arena is expected to be completed by the end of 2024/early 2025. Portugal’s competition authority has given the green light to the deal.
The development comes as Live Nation continues to expand its global reach. In South Africa, Live Nation acquires a controlling stake in the region’s leading concert promoter, large concert2016.
this Ticket Master In recent years, the parent company has continued to expand in size. Last year it acquired a majority stake in paramo giftswhich has been called Colombia’s “leading music promoter.” It has also stepped up investment in Asia, acquiring Dixcraft launched in Taiwan Singapore Ticketmaster.
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