Live Nation to bring ‘alive’ Argentina arena

Article posted by Coliseum, November 28^th, 2024

Image: Estadio Luna Park, Jrivell, CC BY-SA 3.0

The American entertainment company Live Nation (American events promoter and venue operator based in Beverly Hills, California, US) and their Argentinian partner, DF Entertainment, have struck a deal to manage the Estadio Luna Park, a multipurpose arena in Buenos Aires, Argentina.

‘CELEBRITY ACCESS’ stated that the deal will see the Live Nation and the DF Entertainment manage the venue for 20 years with room to extend the agreement for another two decades.

The DF Entertainment is a live entertainment company based in Buenos Aires, Argentina, that specializes in hosting live music concerts and events. They are a leader in the entertainment industry in Argentina and are associated with the Live Nation, a global leader in the industry.

The 8,400-capacity Estadio Luna Park is a multipurpose arena in Buenos Aires, Argentina. Located at the corner of Avenida Corrientes and Avenida Bouchard in the San Nicolás neighborhood, initially the arena primarily hosted boxing and other sporting events. In the 1950s, it was expanded to host stage shows and concerts.

‘CELEBRITY ACCESS’ further stated that as part of the above deal, the Live Nation and DF Entertainment will invest $34 million into the arena starting in January 2025 and will help to expand the arena’s capacity to 13,000.

Additionally, the two companies will pay the arena’s owners $1 million premium and guarantee a minimum of $1 million in annual profit as well as a fee per show.

The above agreement will bring the Live Nation and DF Entertainment in direct competition with the Anschutz Entertainment Group (AEG) which calls the shots of the 15,000-capacity Movistar Arena in Buenos Aires.

Los Angeles (US)-based the Anschutz Entertainment Group, Inc. (AEG), also known as the AEG Worldwide, is an American global sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. It is the world’s largest owner of sports teams and sports events. Under the AEG Presents brand, it is the world’s second-largest presenter of live music and entertainment events after the Live Nation. The AEG Presents was founded in 2002 as the AEG Live.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Become a member of the only Global Sports Venue Alliance and connect with stadiums, arenas and experts from around the world. Apply for membership at www.coliseum-online.com/alliance and make use of the 365Coliseum Business.