Pollstar (08/15/24) Lind, J.R.

As interest rates have climbed amid the Federal Reserve's campaign to tame inflation, Live Nation and other venue operators have taken a more cautious approach to venue renovation. Looking ahead, though, cheaper money may "goose" a live entertainment building boom that may already be gaining steam. In its last quarterly earnings report, Live Nation's Venue Nation arm planned to open 14 new buildings before the end of next year. Live Nation President and CEO Michael Rapino remarks, "We think there's still a great whitespace on a global venue basis." Live Nation executives further hinted that concerns regarding a softening touring market may be misplaced and are likely more of a reflection of a come down from the highs previously enjoyed post-pandemic. Live Nation CFO Joe Berchtold further emphasized that while the recent round of high-profile cancellations — everyone from Jennifer Lopez to The Fugees to Aerosmith — stoke worry, on a macro basis, cancellations are not a major worry.

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