Dwell Nation plans to take a position $1 billion in new and renovated venues throughout the US over the subsequent 18 months

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Dwell music big Dwell Nation plans to take a position $1 billion in 18 new and renovated venues throughout the US over the subsequent 18 months, stressing the optimistic impression of the funding on the US economic system.

The brand new or refurbed venues, ranging in measurement from intimate golf equipment to massive amphitheaters, are in markets ranging in measurement from massive cities like Denver, Pittsburgh and Seattle, to smaller markets like Allentown, Pennsylvania, Birmingham, Alabama, and Riverside, Missouri.

It’s a part of Dwell Nation’s ongoing technique to construct a community of owned-and-operated venues, of which the corporate now owns 150 within the US, or about 4% of all music venues throughout the nation.

The thought is to convey “extra massive reveals to smaller cities throughout America,” Dwell Nation stated in a press release on Tuesday (June 10).

“Our mission is easy: assist artists ship extra unforgettable reside experiences – and in doing so, create jobs, revive cities, and carry up the communities we contact,” CEO Michael Rapino stated.

“As an American firm, we drive impression right here at residence whereas additionally serving to elevate and export the easiest of what this nation represents: freedom, creativity, grit, and boundless risk.”

The corporate’s management group has been pointing to what it sees as a dearth of venues in secondary cities within the US, resulting in the phenomenon of “semi-residency” – main artists holding massive numbers of reveals in a comparatively small variety of places, forcing followers to journey lengthy distances to see their favourite acts. Or, as CFO Joe Berchtold lately described it: “Decide a number of cities, do a lot of stadiums.”

“Each fan deserves entry to unforgettable reside music – with out having to drive hours to a significant metropolis,” Dwell Nation stated, underscoring its “dedication to increasing into smaller, underserved music markets.”

The corporate can be stressing the financial impression of its funding, citing analysis from Oxford Economics that estimates the $1 billion funding will result in $2.9 billion in financial exercise, together with spending on engineering, growth, and building. As soon as the venues are operational, they may symbolize $1.4 billion in annual financial exercise for the 18 communities.

Moreover, the corporate stated it’s “persevering with efforts” to ship 1 million tickets underneath $30 to summer time reveals, a part of an ongoing effort to counter perceptions amongst customers that the corporate, notably its ticketing division, Ticketmaster, is gouging customers.

“Our mission is easy: assist artists ship extra unforgettable reside experiences – and in doing so, create jobs, revive cities, and carry up the communities we contact.”

Michael Rapino, Dwell Nation

Regardless of complaints from some followers about excessive costs for tickets to sure reveals, Dwell Nation says 65% of tickets the corporate sells are underneath $100, whereas simply 2% promote for greater than $500.

Dwell Nation harassed its position as an employer, noting that its venues have employed 37,000 individuals throughout the US, imposing a $20 minimal wage for many positions, and the brand new funding in venues will spur the creation of 15,000 jobs in building and associated actions.

It additionally famous its position as a driver of US music exports.

“In 2024, Dwell Nation promoted excursions for 400 American artists on international levels, reaching over 16 million followers – a 250% enhance since 2016. These excursions generate important income for the American economic system, whereas additionally increasing the attain and affect of American music worldwide,” the corporate stated.

A number of elected officers thanked Dwell Nation for its efforts to convey new venues to their cities, together with Memphis Mayor Paul Younger, who known as Dwell Nation’s new Satellite tv for pc Music Corridor growth “actually, actually necessary for our metropolis,” and New York Mayor Eric Adams, who lauded the corporate for its redevelopment of the long-lasting Brooklyn Paramount, which opened as a reside music venue final 12 months.

“Brooklyn Paramount will convey the very best and brightest expertise to Brooklyn, serving as each a significant vacationer attraction and venue for native New Yorkers,” Adams stated.

Talking in regards to the Riverside Amphitheater, set to open in 2026 in Riverside, Missouri, the town’s mayor, Kathy Rose, stated: “We’re so excited for the arrival of Riverside Amphitheater, which can elevate the realm’s live performance scene to new heights. Thanks to Dwell Nation for this funding in our neighborhood. These occasions will draw friends into the venue from each close to and much whereas creating great new reminiscences.”

Dwell Nation’s venue investments come as the corporate continues to defend itself towards an antitrust swimsuit introduced by the US Division of Justice and dozens of state attorneys normal, alleging that the corporate abused its dominant place in reside music to have interaction in anticompetitive practices. A federal decide in March rejected Dwell Nation’s movement to dismiss two components of that lawsuit.

The 18 markets the place Dwell Nation is planning to open venues within the subsequent 18 months are listed beneath.