Live Nation to build 50,000-capacity dedicated concert venue in north Toronto [Globe and Mail, The (Toronto, Canada)]
Live Nation Entertainment, Inc. (LYV)
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Source: Globe and Mail, The
Log in or create a free account to listen to this article. Global events conglomerate Live Nation Entertainment Inc. says it will open a new 50,000-capacity outdoor stadium at Toronto's Downsview Park as soon as next summer, creating what would be the country's biggest purpose-built concert venue. To be named Rogers Stadium, it will be built on lands owned by the Public Sector Pension Investment Board's Northcrest Developments, which is leading a decades-long redevelopment of the 520-acre Downsview site with a neighbouring landowner, the federal crown corporation Canada Lands Co. The massive, open-air seasonal stadium, announced Thursday, is a bet on the successful side of the bifurcated post-pandemic concert industry. Overhead costs for the vast majority of touring artists and concert venues have surged, with ticket prices often rising in tandem, prompting tour cancellations for artists as prominent as Jennifer Lopez. But today's biggest artists, such as Taylor Swift and Beyon
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