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
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.”
Dominion holds Live Nation in its Global Trends Luxury Fund.
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