Live Nation Entertainment Inc. to construct new venue in Portland
In June of 2022, Live Nation Entertainment Inc. announced that it intends to construct a concert venue in Portland, Maine, with 3,000-person seating capacity. The proposed venue would become the city’s largest event hall, baring Rose Quarter Arenas. The new construction plans to boast open seating in a ballroom-style event hall, which allows it to dwarf competitors of a similar size in total capacity. Overall, Live Nation’s move into construction its own venues plays into the company’s broader revenue generation strategy of booking entertainment acts and selling tickets.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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