Live Nation goes all-in on Wales with second live music venue
Select language to see a machine translation of this article. The original language of the Article is English and the translation is provided for your convenience.

Live Nation goes all-in on Wales with second live music venue

The Welsh capital, Cardiff, is a kicking city with plenty of music fans and a thriving nightlife and festival scene. So it makes perfect sense that live music promoter Live Nation wants to put on more shows and open another venue in the city. Now, according to local council minutes, its been given the go-ahead. Reported in Wales Online, Live Nation says that it will add the Splott Warehous, which can hold as many as 9,999 people, to its properties. It already operated Cardiff’s 5000 person capacity Motorpoint Arena.

Live Nation’s share price has appreciated by 19% so far this year

graph 0509 live nation

Minutes from the Cardiff city council demonstrate the extent to which Live Nation’s interest in the city is seen as a positive. The company’s president of UK touring, Sam Bush, highlighted his willingness to work “in partnership with local authorities and others to ensure that its activities are sustainable,” and claimed that the company was also willing to “do everything possible to mitigate the impact of any events.

The company’s legal advisor told reporters that Live Nation had signed a five-year agreement with the venue that “would allow for infrastructure to be brought in aimed at minimising impact. That impact would be assessed and mitigated against accordingly.”

In a statement made to Wales Online, Bush added: “There’s a huge demand in the area for music, and we want to try and find a way to satisfy the demand for music in the area, whether that’s rock music or pop or family shows. We’re trying to bring a variety of music to the area. This is the first step and we want to achieve that by doing things the right way.”

Disclosure

Dominion holds Live Nation in its Global Trends Luxury Fund.


If you would you like to receive the Newsfeeds daily, please click here to sign up now!

Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
0.0/5 rating (0 votes)

Disclaimer
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.