Spotlight On Latin America (VenuesNow Conference Recap)

It’s an exciting time for live industry executives in Latin America as the region continues to see exponential growth not only at the box office but also in the venue sector, with some markets working toward developing new venues to meet the demands of the touring business.

Wesley Cullen, managing director of Latin America for Oak View Group, has seen this growth firsthand, having managed the popular Coliseo de Puerto Rico for a decade before helping OVG expand into Latin America.

“It’s really exciting to see all the growth in the region happening,” Cullen said as she began moderating the Spotlight on Latin America panel at the VenuesNow Conference on Sept. 11. “On Pollstar’s 2024 Top 100 Promoters [chart], four of the top 40 are in Latin America. That keeps growing and growing, and they’re not small figures.”

It’s a major reason why entertainment companies are heavily investing in the region, and one of those recent developments comes from OCESA Colombia, which is mostly owned by Live Nation. OCESA recently launched Vive Claro, a 40,000-capacity stadium built in Bogotá in a park that is capable of hosting productions of any size. It’s a remarkable feat for the major promoter because of the barriers placed by government officials when it comes to development, especially large structures.

“It’s an amazing project because it’s the first venue built for the music industry without any sports,” said OCESA Colombia General Director Luz Ángela Castro, who worked closely with local officials to develop a project that would not only draw major acts but also minimize its carbon footprint as much as possible. “It’s a very good exercise to show that it’s possible to …introduce sustainability messages and practices.”

What’s more remarkable about the venue is that it was built in one year, drawing inspiration from Mexico City’s Estadio GNP Seguros and Adele’s residency in Munich, and it could very well be the type of project that inspires others in South America.

Claudio Macedo, SVP of venues, expansion and partnerships for promoter 30e, was also bullish on business in the region, especially Brazil, where his company is based. 30e was born during the pandemic and quickly grew as live music boomed in Brazil.

“We’ve been growing 50% every year, and it’s a very young company,” he said. “It’s 6 years old. We’re doing over 200 concerts per year. So, just by our demand, we already need more venues.”

There is a lack of infrastructure for many LATAM countries when it comes to music venues, but that is starting to change in some countries, including those in Central America. Juan Pablo García Castro, a developer and CEO of FACTOR, the economic growth in countries like Guatemala has allowed people to spend more on entertainment, and he presented a shocking fact during the panel: “From Mexico City to Bogotá, Colombia, there is no arena.”

He is helping develop a new arena in Guatemala with support from investors and government officials “to show Latin America to the world” and show artist the region is worth a visit.

“You never know. In a few years, we might be having number one artists coming out of Guatemala that we’re not thinking about because of the stage that this creates and the aspiration that it brings,” Cullen added about the impact of such a venue in a country.

Developers aren’t just focused on building new venues. Part of the growth in LATAM is in the modernization of buildings. Sabrina Galante, associate principal of business development in LATAM at Populous, said that the firm was intrigued by the region several years ago, and they quickly saw “so much opportunity.”

“This market is being transformed,” she said. “Venues from Mexico are being repurposed [for multiuse], and they’re being renovated and upgraded to meet standards for upcoming global events. In Brazil, stadiums are realizing how to maximize usage and revenue and activate it more days besides soccer. We’re seeing a lot of demand in renovations and upgrades in stadiums in Brazil.”

Live music is obviously driving this demand for renovations, but many of the trends in the States are also in the Americas, especially the uptick in premium experiences. Macedo said that they try to give consumers multiple options, but don’t want to lose fans because of high prices. Adding more premium experiences and pricing them appropriately allows 30e to manage the lower-priced tickets, and that model encourages arena acts to jump into stadiums in the region.

With that kind of innovation, creativity and an ability to adapt, it’s no wonder Latin America is poised to become a dominant force in live entertainment.