Spanish soccer giants Atletico Madrid have struck a new commercial partnership with concert promoter LiveNation, which has committed to staging concerts at the club’s 70,692-capacity Metropolitano Stadium for the next 10 years
The deal, which contains an option to extend beyond the initial 10-year term, will reportedly see around 15 to 20 concerts held at the venue each year, with the Metropolitano positioned as the 'preferred' concert space in Spain for LiveNation performances.
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Tickets to gigs organized through the agreement will now be available on the Metropolitano Stadium’s own digital platform, opening up another point of sale for LiveNation, and another revenue stream for the club.
Though not confirmed, Atletico Madrid may be in line to earn as much as € 1 million ($1.1 million) per concert.
This agreement stemmed from a previous partnership among Atletico, LiveNation, and venue management agency Oak View Group, who are collaborating to construct a new, smaller 20,000-capacity concert venue adjacent to the Metropolitano, scheduled to open in 2030.
Together with that proposed venue, this new agreement, the club says, will create “one of the most complete and powerful entertainment ecosystems in Europe.”
Oscar Mayo, chief revenue and operations officer at Atletico Madrid, commented: “It makes us so proud and excited to be part of a great project alongside the world’s largest promoter, all of which will help the city of Madrid to keep positioning itself as a leading cultural destination, thereby generating a positive impact for everyone who is part of the city and community.”
The subsequent expected increase in footfall at the Metropolitano is also a good deal for Riyadh Air, the Saudi flag carrier, which has been the title sponsor of the Metropolitano since October 2024 in what is one of the most lucrative stadium sponsorship agreements in global sport.
It is also a major boon for Atletico Madrid itself in its bid to contend with rivals FC Barcelona, and in particular, city rivals Real Madrid.
The latter, the club’s closest and most powerful rival in the Spanish capital, is especially prescient in this situation, given that Real Madrid's efforts to book concerts at its own revamped home, the Santiago Bernabeu, have faced stiff opposition from locals complaining of noise pollution, who have gone aa far as to take the case to court to try and prevent Real from staging future events at the venue.
If, then, Atletico can gain an edge over Real Madrid on the year-round revenue inherent in the concert space, that will go some way towards ameliorating Real’s considerable revenue head-start over its city rivals.
