Pinnacle Bank Arena pinnacle profit

Article posted by Coliseum, October 19^th, 2023

Image: ASM Global

The Pinnacle Bank Arena, Lincoln, Nebraska’s (US) state-of-the-art multipurpose facility and arena, celebrated its 10^th anniversary in August 2023.

‘ASM Global’ stated that on the heels of this milestone, the sports and entertainment venue also welcomed its six millionth guest and posted a record financial year since opening one decade ago.

The ASM Global-managed Pinnacle Bank Arena, located in Lincoln, Nebraska (US), opened in September 2013. The $179 million state-of-the-art multipurpose facility features a 15,200-seat multiuse arena, 36 suites, 20 loge boxes, and 832 club seats. Distributed over approximately 450,000 square feet on four concourse levels, the Pinnacle Bank Arena features the University of Nebraska-Lincoln men’s and women’s basketball teams as the anchor tenants and offers year-round entertainment, including concerts, family shows and other sporting events.

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The University of Nebraska-Lincoln is a public land-grant research university in Lincoln, Nebraska, United States.

The University of Nebraska-Lincoln’s men’s and women’s basketball teams are called the Nebraska Cornhuskers. The Cornhuskers compete in the National Collegiate Athletic Association (NCAA) Division I. The men’s team plays in the Big Ten Conference.

Indianapolis (US)-based the National Collegiate Athletic Association (NCAA) is a nonprofit organization that regulates student-athletics among about 1,100 schools in the United States and Canada. It also organizes the athletic programs of colleges and helps over 500,000 college student-athletes who compete annually in college sports.

The NCAA Division I is the highest level of college sports competition in the United States and include many of the largest and most well-known universities and athletic programs.

The Big Ten Conference is the oldest Division I collegiate athletic Conference in the United States. Founded as the Intercollegiate Conference of Faculty Representatives in 1896, it predates the founding of its regulating organization, the NCAA. It is based in the Chicago area in Rosemont, Illinois.

Los Angeles (US)-based ASM Global is the world’s leading producer of entertainment experiences. It is the global leader in venue and event strategy and management – delivering locally tailored solutions and cutting-edge technologies to achieve maximum results for venue owners. The company’s elite venue network spans five continents, with a portfolio of more than 350 of the world’s most prestigious arenas, stadiums, convention and exhibition centers, and performing arts venues.

‘ASM Global’ further stated that concerts by some of today’s most high-profile artistes in 2023, like Morgan Wallen (American singer and songwriter), Kenny Chesney (American singer-songwriter and guitarist), Shania Twain (Canadian singer-songwriter), and more, led to increased ticket purchases and gross sales for the venue.

A major highlight this year for the Pinnacle Bank Arena included a performance by the country star Zach Bryan (American singer-songwriter) who took the stage on his ‘Burn, Burn, Burn’ tour in front of a soldout crowd during the venue’s 10^th anniversary celebration on August 29^th, 2023, making it the bestselling concert at the arena year to date.

Responsible for millions in economic impact each year, the Pinnacle Bank Arena remains one of the region’s most significant forces in driving economic growth. The arena rebounded successfully from the pandemic-shuttered 2020, gradually increasing its lineup of events each year. The venue has been experiencing a steady incline in ticket sales year after year, including a 268 percent jump in gross ticket sales from 2021 to 2022.

Managed by ASM Global, the world’s leading venue management company and producer of live events and experiences, the 15,500-seat arena has hosted up to 200 events per year, ranging from national concert tours with topselling artistes, major sporting events and University of Nebraska basketball games to graduations, conventions and more.

Notable events over the past decade include George Strait’s (American singer and songwriter) concert in April 2022, which posted the venue’s largest gross ticket sales ever, as well as soldout shows featuring acts like Garth Brooks (American singer-songwriter), Elton John (British singer and pianist), Michael Bublé (Canadian singer and songwriter), Justin Bieber (Canadian singer), P!NK (American singer-songwriter and actor), and many more.

Exciting sporting events such as the Nebraska School Activities Association (NSAA) Boys and Girls State Basketball and Volleyball Championships, Light Welterweight Championship Boxing Match between Terence Crawford (American professional boxer) vs. Julius Indongo (Namibian professional boxer) and B1G Wrestling Championships also drove attendance and revenue at the arena.

Part of ASM Global’s corporate social responsibility (CSR) platform, the ASM Global Acts, the Pinnacle Bank Arena has been committed to its community through partnerships with local philanthropic organizations. Throughout the past decade, the venue has partnered for various charitable initiatives, including donating $15,000 of food items to the local charities, contributing hundreds of tickets to the local organizations as well as acting as a mass vaccination clinic site in 2021, and more.

Said Tim Savona, General Manager, Pinnacle Bank Arena, “Basketball attendance has made the Nebraska’s men’s team one of the top-supported programs in the United States, and we’ve grabbed the attention of the top promoters and agents nationwide allowing us to host high-caliber concerts and events regularly. We have no doubt that our events have helped to put Lincoln on the sports and entertainment industry map and, at the same time, we also are fully committed to the local community and the surrounding region, hosting events from graduation ceremonies to charity benefits. We are incredibly proud of our team’s efforts over the past 10 years and are excited for what we will be able to accomplish over the next decade and beyond.”

The ASM Global Acts is a corporate social responsibility (CSR) program that aims to create better communities and a better world. The program was established in October 2021.

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