No. 2 Los Angeles
City Of (Super) Stars Shining As Bright As Ever
Reported Market Gross | $718,430,010
Reported Ticket Sales | 5,819,641
Average Ticket Price | $123.45
New York may have the top ranking when it comes to the concert market, but the glitz and glamor usually associated with the entertainment industry, especially live music, still reside in Los Angeles.
With a gross of $718,430,010, LA moved up to No. 2 on the Concert Market Rankings from No. 3 last year – an increase of 39.48%, based on Pollstar Boxoffice reports. Ticket prices increased 6.86% from $115.52 to $123.45.
SoFi Stadium, nestled in the L.A. County city of Inglewood, was a box-office juggernaut in the past year and has served as a beacon for superstars from all music genres. The venue has even become somewhat of a co-star as it is heavily featured in “Taylor Swift: The Eras Tour,” which became the highest-grossing concert film by hauling nearly $250 million worldwide, and the NFL stadium doesn’t take that role lightly.
“We consider SoFi Stadium, YouTube Theater and Hollywood Park to be another character in an artist’s film,” Christy Castillo Butcher, senior vice president of programming and booking for SoFi Stadium and Hollywood Park, told Pollstar. “ … It was Stan Kroenke’s vision to create a sports and entertainment destination that was inspired by Southern California but made for a global audience. Being in Los Angeles, we are in the entertainment capital of the world, where there are a lot of creatives and resources that tours can tap into. Our cutting-edge technology and the modern, sleek design of the stadium are visually appealing backdrops for filmmakers.”
SoFi Stadium ranked No. 1 on Pollstar’s Year End Worldwide Top 100 Stadiums based on gross, with a whopping $171,959,699, including Beyoncé’s three September concerts that grossed a total of $45.54 million, and neighboring venue YouTube Theater was No. 10 on the Worldwide Theatres chart, grossing $33,698,278.
If one wanted to make a case for 2023 being the true “Year of the Stadium,” then L.A. is the perfect supporting argument. On top of SoFi’s remarkable year, Rose Bowl Stadium also had some major events, with Karol G’s two August shows grossing $25.44 million and two Coldplay concerts raking in more than $19 million in grosses. BMO Stadium also had a standout 2023 that included RBD’s sold-out four-night run in October that grossed $21.47 million. The home of Major League Soccer club LAFC was No. 5 on Pollstar’s Year End Top 100 Stadiums with $109.13 million, a stellar showing for a venue with a capacity of 22,000.
But stadiums aren’t the only buildings thriving in what is a record year for live music. Kia Forum was No. 2 on the Top 100 Arenas chart, grossing $145.33 million — which includes a sold-out Luis Miguel concert that grossed $3.13 million— and the historic Hollywood Bowl was also runner-up on the year-end list for amphitheatres with a total of $32.38 million grossed.
Industry execs expect more of the same business, if not better, in 2024, and L.A. will certainly be ready to accommodate all artists, big, small and in between, not only with historic and established locations including The Wiltern and Greek Theatre but also with recently opened venues such as Michael Swier and Another Planet Entertainment’s The Bellwether and UCLA’s Nimoy Theater, as well as the soon-to-be-open Intuit Dome — the new $2 billion home of the L.A. Clippers courtesy of Steve Ballmer that will surely be a technical marvel and perfectly complement neighboring venues SoFi Stadium and Kia Forum.