Concert and ticketing giant Live Nation’s expansion into South America has marked another milestone with the company’s announcement that it’s set to begin operating a stadium in Cali, Colombia.
The 15,000-seat Arena Cañaveralejo will be operated through Live Nation’s partners OCESA, a Mexico-headquartered concert promoter, and Colombian concert promoter Grupo Páramo.
Live Nation acquired a 51% stake in OCESA in 2021 for USD $416 million, and it took a majority stake in Páramo in 2023.
Arena Cañaveralejo opened in 1957 as a venue for bullfighting. The facility underwent a major renovation in 2021, the result of a “multi-million dollar investment,” Live Nation said in a statement issued on Monday (May 19).
The company acknowledged “the support of the Mayor’s Office and its commitment to positioning Cali as a tourist destination around live entertainment” which “has been crucial in making this partnership possible.”
“This venue will allow us to bring more world-class artists to Cali while also supporting local talent and growing the live music ecosystem in Colombia,” Live Nation CEO Michael Rapino said.
“Live Nation is committed to investing in Latin America’s thriving music scene, and this partnership with Grupo Páramo will help us create unforgettable experiences for fans in the region.”
Rapino added: “This milestone reinforces Live Nation’s mission to deliver unparalleled experiences and strengthen the Latin American market, while Grupo Páramo continues to solidify its leadership in event and festival production in Colombia.”
Grupo Páramo, aka Páramo Presenta, began in 2004 with a group of concert and festival enthusiasts organizing small shows. It has since grown into what it describes as “the leading live entertainment company in Colombia,” with 1 million fans attending its shows in 2024.
“This venue will allow us to bring more world-class artists to Cali while also supporting local talent and growing the live music ecosystem in Colombia.”
Michael Rapino, Live Nation
The company is known for having produced “record-breaking” events such as FEID’s tour, which sold out three stadium shows in Medellín, and a Shakira tour that sold out five stadium shows in three cities across the country. The company has also organized shows by Paul McCartney, Travis Scott, Aventura, and others.
“We are excited to take this step in Cali, a city with great potential for live entertainment,” Grupo Páramo CEO Gabriel García said.
“We are incredibly grateful for the support of Miguel Yusti, Chairman of the Arena’s Board of Directors, who, along with the city of Cali, is joining us in this effort to offer fans world-class experiences and help boost the city’s cultural development and its regional growth, supporting its mission to make Cali a major tourist destination.”
Evolving from its origins as a concert promoter, Live Nation has been pursuing a strategy of building up a network of owned-and-operated venues as part of its efforts to expand internationally.
Its leadership team has often pointed out that one of the challenges of global expansion in the concerts business is a lack of high-quality venues in many markets. To remedy this, Live Nation has been developing or renovating venues in numerous markets, often in partnership with local live events companies and developers.
Among its more recent ventures was participation in a consortium building a 12,000-seat arena in Lagos, Nigeria. The company partnered with Stadium Management South Africa and Gearhouse South Africa to launch The Dome, a 10,500-seat venue in Johannesburg.
Also last year, Live Nation acquired a majority stake in MEO Arena in Lisbon, Portugal, a 20,000 capacity venue formerly known as Altice Arena.
As of 2023, Live Nation counted 373 venues that the company owned and operated, or had a stake in, or where it enjoyed exclusive booking rights.Music Business Worldwide
