AEG
Page: 2
AEG Presents, a global leader in live music and events, announced Friday (May 10) that Brent Fedrizzi, who currently serves as co-president and COO of AEG Presents’ Rocky Mountains and Pacific Northwest regions, has been named president, North American regional offices.
Fedrizzi’s promotion follows Rick Mueller’s exit from the company, which the former AEG Presents president for North America announced earlier this week.
Fedrizzi, who will continue to be based out of Denver, is set to guide the company’s 100 U.S. venues – including the 50 owned and operated clubs and theaters in the AEG Presents portfolio – in all aspects of talent buying and promotion, as well as overseeing its 12 regional offices. He will report to AEG Presents chairman and CEO Jay Marciano and will join the company’s executive committee.
“I’ve known Brent for close to 30 years and have worked with him almost as long, so it’s especially gratifying to make this announcement,” said Marciano in a release. “He has a vision, a drive, and an insight into our business that’s been forged over his many years promoting events in every type of venue across the western United States. As co-president of our Rocky Mountain region, his feel for the business is a key reason AEG Presents is the dominant promoter in the market and the Denver office is one of our top performers. Simply put, he’s the right person for the job.”
Trending on Billboard
“When Jay and I first spoke about this opportunity, I jumped at the chance to work more closely with him, the regional team, and the company as a whole,” Fedrizzi said. “I’m excited for the challenge ahead, and I can’t wait to dive in; there’s never been a more exhilarating time in live events. I’m grateful for the trust Jay has put in me to guide the business into the future; the ability to do so with the people and the company I love is icing on the cake.”
A Colorado native, Fedrizzi began his career in 1991 at the Fey Concert Company in Denver, booking artists at various venues across the Rockies and the Southwest. In 1998, he joined forces with Chuck Morris and Don Strasburg to launch Bill Graham Presents/Chuck Morris Presents in the market. Through a series of acquisitions including SFX and Clear Channel Entertainment, that company would eventually become Live Nation in 2005. Fedrizzi remained there for nine years before leaving with Morris and Strasburg to join AEG Live as COO of the Rocky Mountain region. They quickly established themselves as the dominant force in one of the most competitive and active live music markets in the country and now promote more than 1,100 events annually at a variety of venues including Mission Ballroom, Red Rocks Amphitheatre, Fiddlers Green Amphitheatre and Ball Arena, among many others.
In addition to his work at AEG Presents, Fedrizzi is a board member and four-time president of the North American Concert Promoters Association, a four-time Academy of Country Music award nominee, and a nominee for International Entertainment Buyers Association’s promoter of the year. He currently serves as chairman of the board for Visit Denver and sits on the board of the Colorado Music Hall of Fame.
Making live music events as environmentally friendly as possible is a task executed by thousands of workers who install solar panels, transport waste, collect reusable cups, measure energy use and execute other operational tasks. But every employee doing this work ultimately falls under the purview of any given live event company’s head of sustainability. Erik Distler is one of them.
As vp of sustainability at AEG, Distler leads the company’s corporate sustainability program. There are executives in similar roles at Live Nation, ASM Global and Oak View Group – and together, this group is responsible for greening a significant percentage of global events and venues. In February, the group – who Distler says all know each other given that the sustainability space is relatively small — appeared together in public for the first time during a panel at the inaugural Music Sustainability Summit in Los Angeles.
“The symbolism of us being together on that stage is powerful and hopefully inspiring to the industry that we’re cheering each other on and perhaps exploring what we can do together,” says Distler. With the stakes being so high, there’s an incentive to share information, he says, particularly given that “this work is really replicable. What you do in one venue or festival can, barring local infrastructure, be done anywhere else.”
Trending on Billboard
Distler came to his role after working in sports and entertainment sustainability for more than a decade. At AEG, he and his five-person team design and direct sustainability initiatives across the company’s more than 25 festivals, as well as over 50 music venues; nine arenas and similarly sized venues; four entertainment districts; and more than 15 tours to date.
AEG has had a sustainability program for 15 years, but when Distler joined in October 2021, his task was to “take our program to its next phase” amid the worsening climate crisis, the increasing demand for sustainable events among consumers, and new sustainable technologies and regulations.
“The external forces are louder and more influential than they’ve ever been,” he says. “That’s really pushing the industry forward in a way that’s making the case for companies to prioritize and devote internal teams to understand this work, build resources and take action in a meaningful way.”
Distler spent his first three months on the job meeting with 50 internal stakeholders to better understand the business, how to make it more sustainable and get senior executive buy-in, which he says “was fundamental and really paved the way to get more granular with other colleagues.”
From the information collected, he created a strategic framework around sustainability, along with an official vision statement — “Inspire the world’s many voices to protect our planet” — and a mission statement declaring that the company is “committed to operating responsibly and to catalyzing the influence of live entertainment to preserve the planet for future generations.”
“It’s important to have a strategy on a page,” Distler says, “and ultimately a framework that can be used to guide us moving forward.”
This framework also includes a set of focus areas including carbon and energy, waste and materials water, and stewardship and engagement, along with six guiding principles (“collaboration over competition” and “communicate with transparency and often” among them) and seven pillars: operations, suppliers, employees, fans, communities and partnerships.
These partners include Schneider Electric, a French multinational energy management company that AEG has worked with for 14 years for support with target setting, strategy, energy sourcing, market intelligence and risk management. A Greener Future in the U.K. and Three Squares Inc. in the United States are sustainability consultants, while r.World provides reusable cups in all of AEG’s Denver music venues, along with select venues in Seattle, San Francisco and Los Angeles, along with six Goldenvoice festivals. For Coachella and Stagecoach, AEG has donated 44.2 tons of food to its partner Coachella Valley Rescue Mission and 34.6 tons of material to the Galilee Center, which provides clothing and other basics to families in the Coachella Valley.
Distler has also sought additional help. Last year, he worked to get four people hired into three newly created sustainability roles. “It’s not uncommon that a sustainability team is small in count and under resourced,” he says. “ What I see as a large part of my responsibility is ensuring our department is sound economically and building and making the case for staff and resources.”
In addition to Distler and his new hires, the team also includes a data and analytics lead responsible for measuring the impact of AEG events and “all the other people that have jobs like those in festival operations that eat, sleep and breathe this.” Additionally, AEG’s employee-led People For The Planet group is composed of employees from other parts of the company who want to contribute to sustainability projects.
Altogether, this group is “probably pretty emblematic of a sustainability department,” Distler says. “You may have a small core team, but you’ve got external and internal partners that help get the work done.”
Given that Europe has tighter sustainability regulations that the U.S., the industry there offers good examples of initiatives that might eventually be adopted in the States. Last November, AEG’s O2 Arena in London launched a green rider: a best practice guide for sustainable touring and events that outlines what the venue is doing in key areas.
“It’s a great way to sit with an artist and their management team and figure out what we can do while they’re [at the O2] that’s truly sustainable and ultimately communicated to fans,” Distler says of the guide, which was produced in collaboration with U.K. based sustainability consultancy A Greener Future.
Distler says his team is “constantly” collaborating with artists including Billie Eilish, who in June 2022 hosted an event at The O2 called Overheated that featured vegan food and water refill stations along with climate-minded programming. Last April, after learning that rock band Muse “was passionate about climate issues,” he says, AEG’s Crypto.com Arena made a donation on behalf of the and to the Los Angeles Cleantech Incubator, which works to further clean tech, climate action and the green economy in the city.
Distler on site at Cali Vibes
Courtesy of AEG
AEG made a donation to the L.A. Clean Tech Incubator, which works to further clean technology in the city, from AEG’s Crypto.com Arena on behalf of the band. Last year, the team also worked with Maggie Rogers to measure the carbon footprint associated with one of her U.S. tour stops and provided that info to Rogers’ team, along with mitigation suggestions.
In the U.S., AEG has launched a comprehensive sustainability program for its Goldenvoice festivals — including Coachella, Stagecoach, Cruel World and Just Like Heaven. In particular, Goldenvoice’s Cali Vibes functions as a testing ground for sustainability initiatives, including solar panels that light parking lots and the transformation of unpurchased merch into staff uniforms, with these projects be studied for possible use at other events.
“I always say that sustainability doesn’t happen within our team,” says Distler. “Things like waste avoidance or diversion at a festival happen in collaboration with our operation teams, partners and haulers. That requires work that doesn’t ultimately get done in the corporate office.”
While the music industry is ultimately responsible for a tiny fraction of global emissions and waste, Distler is resolute about its impact. He recalls being on a panel in New York last fall alongside sustainability heads from major corporations with, he says, “huge footprints, like millions of metric tons of emissions.”
And yet when it came to the audience Q&A, “everybody had questions for me, and no one had questions for them.” Given its “influence [on] the heart and mind,” the music industry has a responsibility to focus on sustainability, share these initiatives with fans and “create the setting for positive, inspiring and uplifting work.”
It helps that Distler “absolutely” sees real progress being made, with fans, partners, artists and athletes “putting the right level of pressure on the businesses to take on meaningful action.” He says many of the major corporations AEG works with are also taking on sustainability in a more focused way.
“It’s sitting down with partners and saying, ‘What are your focus areas? Your goals? Your aspirations?’” he says. “Then sharing ours and seeing what lines up…seeing the eagerness and willingness of our partners to ideate and brainstorm is really encouraging, and is signaling that the industry is moving in the right direction.”
The concert business has had a record year in 2023 — tours by Taylor Swift and Beyoncé were pop culture moments, festivals roared back to life and consumers’ splurging on tickets seemed to defy gravity. There’s likely more good news on the horizon, too. By all forecasts, next year is shaping up for continued success, even as consumers still feel pinched by inflation.
Among the big names to announce stadium tours next year are The Rolling Stones, Foo Fighters, Green Day and a pairing of Journey and Def Leppard. Chris Stapleton, Zach Bryan and Luke Combs will hit both stadiums and arenas. Drake, Bad Bunny, Thirty Seconds to Mars, Hootie & the Blowfish, New Kids on the Block, Alanis Morissette and The Trilogy Tour featuring Enrique Iglesias, Ricky Martin and Pitbull will play arenas and amphitheaters. Taylor Swift’s The Eras Tour continues in 2024, too, with 85 shows announced for Asia, Australia and North America.
Advanced ticket sales suggest consumers remain eager to see their favorite artists perform live. Through mid-October, Live Nation’s event-related deferred revenue — from ticket sales to events that had not yet occurred — was up 39% year over year, according to the company’s third-quarter earnings release.
AEG Presents, the second-largest promoter, is “feeling really positive” about 2024 tours across all venue sizes and genres, says Rich Schaefer, president of global touring. “I think people are discovering new artists and want to see big shows — and they’re willing to pay for it.” They’re buying well in advance, too: AEG put tickets on sale for 76 Zach Bryan shows in 2024 — some won’t happen until December — and has “largely sold everything out,” says Schaeffer. “That artist especially has a crazy connection with his fans. They’ve seen videos of what his shows are like, and I think everybody wants to experience it.”
Those big tours — and thousands of others — are counting on consumers to continue to open their wallets despite continued high prices for staples and living expenses, rising debt delinquencies and Americans’ credit card debt reaching a record level in the third quarter. The holidays are presenting mixed signals: Black Friday spending was up 2.5% compared to 2022, but numerous surveys have found consumers plan to spend less on gifts this year.
Consumers may feel beleaguered, but they continue to spend to see their favorite artists perform live. “I have weekly booking calls with the over 40 presidents around the world and we talk booking clubs up to stadiums and festivals, and we have not seen anything taper off in any sense,” said Live Nation CEO Michael Rapino during the company’s Nov. 2 earnings call. The company is “not seeing any pullback in any way” in consumer demand regardless of the region or venue size, he added.
A big question, though, is whether consumers will be in a spending mood throughout 2024. A new Goldman Sachs economic outlook report says the U.S. economy today is better than was expected a year ago, inflation will continue to subside and the likelihood of a recession in 2024 is “limited.” The latest data from the University of Michigan is encouraging: U.S. consumer sentiment soared in December and people’s expectations for year-ahead inflation dropped to 3.1% from 4.5% last month.
Whatever uncertainties exist — including falling savings rates and weakening credit conditions — have not materialized in ticket sales thus far. “We certainly see the headlines [about macroeconomic conditions], but it’s not flowing through to numbers that we can see,” Lawrence Fey, CFO of secondary ticket marketplace Vivid Seats, said during a Nov. 7 earnings call.
One could simply look at who’s touring in 2024 to get a sense of where ticket buyers are thinking. “You got The Stones going on the road in parts in North America,” says Doug Arthur of Huber Research Partners. “They’re always a pretty big draw. The Stones are pretty savvy historically about touring when they think the economics support it.”
Consumers’ willingness to spend increasing amounts on live music isn’t a new trend — although some of 2023’s record-setting box office numbers appear to be the result of music fans may be clamoring for live events in after suffering through pandemic-era restrictions. The concert industry has benefited from a lasting shift among consumers from goods to experiences over the last 10 to 15 years, says Brandon Ross, an analyst with LightShed Partners.
This year’s boffo box office numbers weren’t outliers, and Ross expects to see “outsized performance on a global basis” in 2024. “There has been a year-and-a-half long concern for a broader pullback in consumer spending,” says Ross. “I don’t think will not impact growth, but I think there’s substantial tailwind supporting this industry.”
Those tailwinds probably won’t be strong enough for next year’s touring business to duplicate 2023’s stellar growth rate — but no one seems to be expecting that. “I don’t think you’re talking about another up 30% type of year, and I don’t think [Live Nation is] talking about that either,” says Arthur. “But can the concert revenues be up high single digits between volume, fans per show, price per ticket and spending per fan? Yeah, I think that’s not unreasonable at all.”
Artists and promoters will continue to encounter high costs in 2024 — labor, catering, buses and staging are stretched thin with a high number of big tours on the road. That’ll continue to push ticket prices up. Even so, AEG hasn’t seen resistance to higher prices, says Schaefer. “There’s very few instances where we think that pricing is responsible for tickets not selling.”
Crypto.com Arena in Los Angeles is pilot testing a new waste diversion initiative at the arena’s upcoming two-night run for Depeche Mode on Dec. 15 and 17.
The program, held in conjunction with reusable cup manufacturer r.World, could help divert hundreds of thousands of single-use cups out of local landfills and eventually serve as a staple sustainability initiative at the AEG-owned facility, which is widely recognized as a leader in the live entertainment business’ efforts toward long-term sustainability.
As part of the program, Crypto.com Arena and its janitorial servicer, ABM, will work with r.World to receive and distribute 13,000 beer, cocktail and soft drink cups around the arena. On the nights of the Depeche Mode performances, the cups will be utilized by the arena’s bar, beverage and concessionaires to serve drinks to attendees, who will then dispose of the cups in specially marked bins staged around the arena. At the end of the first show, the cups will be collected by r.World staff and taken to a nearby cleaning facility where they will be washed and returned to the arena for the second night. Both shows are being promoted by Live Nation.
The program, explains Crypto.com Arena president Lee Zeidman, was inspired by Depeche Mode’s long-running commitment to environmental and sustainability initiatives. “Commencing with the electrifying Depeche Mode concerts, our aim is to ignite a wave of positive change and rally our audience and partners to actively participate in shaping a more eco-conscious future,” he tells Billboard.
Last year, a similar pilot program was launched by AEG-owned Goldenvoice with r.World to eliminate plastic cups from its Cali Vibes festival in Long Beach, Calif. Following the pilot, Crypto.com Arena will evaluate the data from the two concerts and, if the program is successful, will look to collaborate with current or future partners to make r.World a full-time option to guests and fans in the future.
“We believe that there’s going to be less labor needed in terms of cleanup and the cleanup crew, and we believe we’re going to have lower waste disposal fees,” Zeidman says. “We also believe that people will embrace this opportunity to keep single plastic waste out of the stream and perhaps buy more beers or Cokes.”
In addition to Los Angeles, r.World boasts industrial “Wash Hub” facilities that also service Denver, Las Vegas, Minneapolis, San Francisco, Seattle and Washington, D.C. To meet market demand for reuse, the company plans to expand the program to eight to 12 more cities in the next 24 months.
“We’re excited to work with Crypto.com Arena — as one of the busiest venues in the world, the positive environmental impact potential of reuse is massive,” said Michael Martin, r.World founder/CEO. “They’ve led the industry and operated in the most environmentally innovative ways since opening in 1999, and so it’s no surprise they’re launching the pilot reuse program in the LA market and ultimately, driving change across the live events industry.”
AEG Presents is the latest music-related company to announce a move to the Nashville mixed-use district Nashville Yards, which is being co-developed by AEG and Southwest Value Partners.
Explore
Explore
See latest videos, charts and news
See latest videos, charts and news
AEG Presents will relocate its regional office to Nashville Yards in 2025. The company’s new location will be comprised of the company’s regional office, members of its global touring division and the Nashville outpost of AEG Presents partner Messina Touring Group. Combined, these three entities oversee everything from bookings at intimate clubs to stadium tour dates, having promoted tours for artists including Kelsea Ballerini, Zach Bryan, Kenny Chesney, Eric Church and more.
AEG will also book and operate the upcoming 4,500-capacity music venue that’s slated to open in Nashville Yards in 2025.
Rick Mueller, president of AEG Presents North America, said in a statement: “We’ve been hyper-focused on expanding our presence in Nashville for a few years now. It’s a big opportunity for us to be consolidating all our operations under one roof at what’s soon to be one of the most popular destinations in the city, and to be booking and operating a new, state-of-the-art music venue on-site makes it that much more exciting.”
“We have an exceptional partnership with AEG, and together we believe we are constructing one of the most uniquely attractive music, retail and creative workplace environments in the world,” added Cary Mack, managing partner of Southwest Value Partners. “Independent of that, AEG Presents is a preeminent entertainment brand and operator of world class entertainment venues, and we are very excited to have their extended presence at Nashville Yards.”
In November, booking agency CAA announced that its Nashville office will also relocate to Nashville Yards in 2025. Upon completion, the 19-acre mixed-used development will feature pedestrian pathways, open green spaces, plazas and Class A+ office, residential, hospitality, entertainment, retail and culinary offerings.
Last spring, executives at Onex, AEG’s private equity partner in facility management company ASM Global, notified AEG leadership of their plans to trigger a clause in their agreement that allowed Onex to sell its 35% stake in ASM. Under the terms of the deal, AEG could either buy out Onex or match competing offers.
AEG officials instead elected to get out too, and over about half a year worked with Onex to identify a buyer for all ASM Global. On Nov. 3, Onex and AEG jointly announced that Legends Hospitality was buying ASM, the country’s leading venue management company.
Onex CEO Bobby Le Blanc told investors on a Nov. 10 earnings call that the decision to sell its ASM ownership stake for $2.3 billion was prompted by the company’s rebound in value, quickly recovering in the post-pandemic period after seeing its value dramatically drop when concerts shut down from 2020-2021 due to COVID-19.
The final sale price would double what ASM Global was worth in 2019 when AEG and Onex merged their SMG facility management holdings to create the world’s largest facility manager, Le Blanc confirmed.
Still, AEG’s decision to sell surprised many in the touring industry who had followed the company’s growth in that space.
For one, the sale made AEG a much smaller company, reducing its global footprint from 350 facilities under management to just nine — all of which AEG either owns or partially owns. And unlike Onex, as the world’s second largest concert promoter, AEG was able to enjoy significant synergies from owning ASM that other companies could not. AEG could more easily book its touring shows at ASM-managed facilities, expand its AXS ticketing platform to ASM-managed venues and sell sponsorships through its global partnerships division.
AEG and Onex merged their facilities holdings 14 months after Onex acquired SMG, AEG’s longtime facilities rival. In so doing, ASM Global became the world’s largest venue management company, with little to no competition for potentially large lucrative government contracts. Facility management has long been a predictable contracts business, in which city and county governments would pay SMG or AEG a fee to manage publicly owned venues and split any profits the private companies helped generate.
Merging the industry’s two largest competitors into ASM Global gave Onex and AEG unprecedented scale in the capital-intensive space and access to lucrative contracts. But the honeymoon didn’t last long. Oak View Group, which was founded in 2015 by former AEG CEO Tim Leiweke — who made his own failed bid to buy SMG — began growing as a serious competitor, and peeled away a number of big-name management clients away including PPG Paints Arena in Pittsburgh, the BOK Center in Tulsa and the sprawling McCormick Place convention center in Chicago. While the concert business’ post-pandemic boom has brought impressive profits, a source in facility management says that increased competition and inflation have been eating up ASM’s margins. Additionally, rising interest rates have made it difficult for firms like ASM to offer up capital investments in return for long-term management contracts, and much of the business’ growth was coming from new international venue projects, which were more costly to service.
Most recently, the bulk of AEG’s growth has been in its tour promotion business globally and through its theaters and clubs division. Since the end of the pandemic, both AEG and Live Nation have been looking to expand their network of smaller venues that they manage exclusively.
The company’s sweet spot is “locations with capacities of 1,500 to 5,000,” Rick Mueller, president of AEG Present North America, told Billboard last month. While most arena management deals do not include exclusive booking agreements because no single promoter can provide arenas enough content on their own to sustain a large facility, exclusively programming a club or theater can be much more profitable due to the leverage the contract holder has over other promoters wanting to book the venue, requiring promoters to cut them in on show deals. Now, AEG likely has more than an extra billion dollars to invest in this strategy, should it choose to do so.
Last spring, executives at Onex, AEG’s private equity partner in facility management company ASM Global, notified AEG leadership of their plans to trigger a clause in their agreement that allowed Onex to sell its 35% stake in ASM. Under the terms of the deal, AEG could either buy out Onex or match competing offers.
AEG officials instead elected to get out too, and over about half a year worked with Onex to identify a buyer for all ASM Global. On Nov. 3, Onex and AEG jointly announced that Legends Hospitality was buying ASM, the country’s leading venue management company.
Onex CEO Bobby Le Blanc told investors on a Nov. 10 earnings call that the decision to sell its ASM ownership stake for $2.3 billion was prompted by the company’s rebound in value, quickly recovering in the post-pandemic period after seeing its value dramatically drop when concerts shut down from 2020-2021 due to COVID-19.
The final sale price would double what ASM Global was worth in 2019 when AEG and Onex merged their SMG facility management holdings to create the world’s largest facility manager, Le Blanc confirmed.
Still, AEG’s decision to sell surprised many in the touring industry who had followed the company’s growth in that space.
For one, the sale made AEG a much smaller company, reducing its global footprint from 350 facilities under management to just nine — all of which AEG either owns or partially owns. And unlike Onex, as the world’s second largest concert promoter, AEG was able to enjoy significant synergies from owning ASM that other companies could not. AEG could more easily book its touring shows at ASM-managed facilities, expand its AXS ticketing platform to ASM-managed venues and sell sponsorships through its global partnerships division.
AEG and Onex merged their facilities holdings 14 months after Onex acquired SMG, AEG’s longtime facilities rival. In so doing, ASM Global became the world’s largest venue management company, with little to no competition for potentially large lucrative government contracts. Facility management has long been a predictable contracts business, in which city and county governments would pay SMG or AEG a fee to manage publicly owned venues and split any profits the private companies helped generate.
Merging the industry’s two largest competitors into ASM Global gave Onex and AEG unprecedented scale in the capital-intensive space and access to lucrative contracts. But the honeymoon didn’t last long. Oak View Group, which was founded in 2015 by former AEG CEO Tim Leiweke — who made his own failed bid to buy SMG — began growing as a serious competitor, and peeled away a number of big-name management clients away including PPG Paints Arena in Pittsburgh, the BOK Center in Tulsa and the sprawling McCormick Place convention center in Chicago. While the concert business’ post-pandemic boom has brought impressive profits, a source in facility management says that increased competition and inflation have been eating up ASM’s margins. Additionally, rising interest rates have made it difficult for firms like ASM to offer up capital investments in return for long-term management contracts, and much of the business’ growth was coming from new international venue projects, which were more costly to service.
Most recently, the bulk of AEG’s growth has been in its tour promotion business globally and through its theaters and clubs division. Since the end of the pandemic, both AEG and Live Nation have been looking to expand their network of smaller venues that they manage exclusively.
The company’s sweet spot is “locations with capacities of 1,500 to 5,000,” Rick Mueller, president of AEG Present North America, told Billboard last month. While most arena management deals do not include exclusive booking agreements because no single promoter can provide arenas enough content on their own to sustain a large facility, exclusively programming a club or theater can be much more profitable due to the leverage the contract holder has over other promoters wanting to book the venue, requiring promoters to cut them in on show deals. Now, AEG likely has more than an extra billion dollars to invest in this strategy, should it choose to do so.
Veteran touring specialist Rich Schaefer has been officially promoted to president of global touring at AEG Presents. Schaefer takes over the role from Gary Gersh, who announced he would be stepping down last month. In his new role, Schaefer will oversee all aspects of the concert promotion company’s worldwide touring deals, operations and talent relations. […]
Crypto.com Arena in Los Angeles is opening the first ever Coke Studio — a 3,300 square-foot music studio and event space that will feature exclusive branded merchandise and product offerings along with podcast recordings, live performances, artist appearances and more. The Coke Studio is part of a renewed partnership with arena owner AEG, Coca-Cola North […]
L.A. Live’s 7,100-seat venue will no longer be called the Microsoft Theater, officially changing its name to Peacock Theater after NBCUniversal’s premium streaming service as part of a multi-year naming rights agreement with property owner AEG.
The entertainment district’s 40,000 square foot open-air plaza, formerly known as XBOX Plaza, will now be known as Peacock Place. The agreement, brokered by AEG Global Partnerships, establishes Peacock as the exclusive streaming partner of L.A. Live.
The name change comes a year and a half after anchor arena Staples Center changed its name to Crypto.com Arena in a landmark deal valued at $700 million over 20 years.
Kelly Campbell, president of Peacock at NBCUniversal, commented that the agreement brought “all the elements of our brand to life with the millions of fans who visit L.A. Live each year.” Nick Baker, chief operating officer of AEG Global Partnerships, noted the “content within the Peacock platform is ideal for our audiences and the synergies between both organizations around our variety of events is limitless.”
Lee Zeidman, president of Crypto.com Arena, Peacock Theater and L.A. Live, added, “We are looking forward to the opportunity to collaborate with Peacock to create new content and programming to complement our existing roster of amazing concerts, awards shows and special events we are known for at all of our iconic L.A. Live venues.”
With the comprehensive new agreement, Peacock will have an enhanced brand presence across L.A. Live, including significant interior and exterior signage at Peacock Theater, fixed signage at Peacock Place, a branded content studio and customized fan activations and brand integrations throughout select premium locations of the sports and entertainment district.
Peacock will also engage fans via signature digital signage elements, including a brand-new, dedicated LED marquee at the corner of Figueroa and Olympic Blvds., one of downtown L.A.’s busiest intersections. With this new signage, Peacock can highlight its latest content including key series premieres, promotions and special events taking place at L.A. Live over the course of the partnership. Once complete, the largest of the two new signs will measure more than 29 feet high and 56 feet wide. The second will stand at more than 29 feet high and 88 feet wide, providing Peacock with premium exposure to millions of people each year. The signs will connect at the corner, with one facing Figueroa and the other facing Olympic and will remain a permanent fixture at L.A. Live for the length of the partnership.