Sports activities and music followers, flocking to a once-questionable nook of downtown, had been the springboard for an L.A.-born multibillion-dollar empire of venues and occasions for screaming fans across the globe.
AEG, the corporate behind Crypto.com Area and the L.A. Reside district, has turned its know-how about internet hosting and selling massive exhibits right into a method it has rolled out on 5 continents. It’s actually setting the levels for the world’s largest pop stars, sports activities groups and even — most lately — sumo wrestlers.
It is among the metropolis’s lesser-known international success tales. With greater than 20,000 workers and billions of {dollars} of initiatives operating at anyone time, AEG is among the planet’s largest venue and occasion firms. L.A.’s excessive focus of sports activities groups and musical expertise pressured it to develop a system that makes use of its areas for as much as 5 completely different occasions in a day.
“We realized be nimble in transferring from one to the opposite to essentially maximize,” AEG Chief Government Dan Beckerman informed The Los Angeles Instances.
AEG is prospering by executing a reasonably easy marketing strategy, stated Andrew Zimbalist, professor emeritus of economics at Smith School. Its business is pretty easy — and extra use of every seat provides the corporate extra capital to construct extra venues.
“You need to decide your area of interest, have capital, have tenacity,” he stated. “And keep it up.”
Sumo wrestlers bashed bellies this month in AEG’s latest venue on the grounds of a legendary citadel. The lately opened IG Area stands within the outer citadel of Nagoya Fort in Nagoya, Japan, which was constructed within the early 1600s, when samurai battles raged within the area.
Whereas the summer time sumo event required a conventional ring of sand, clay and rice straw bales, the sector can be quickly be reworked to host such numerous occasions as a basketball clinic hosted by the L.A. Lakers’ Rui Hachimura, an expert boxing match and a live performance by English musician Sting.
The brand new IG Area in Nagoya, Japan stands within the outer citadel of Nagoya Fort.
(AEG)
In Nagoya and more and more throughout East and Southeast Asia, AEG is doing what it does higher than most — construct arenas that may host professional sports activities and exhibits by big-name artists, with the venues typically constructed inside an ecosystem of bars, eating places and resorts additionally constructed by the corporate and its companions.
The corporate was based in 1995 when Denver billionaire investor Philip Anschutz purchased the Los Angeles Kings and in 1999 opened the downtown area then often known as the Staples Middle, which was constructed by Anschutz and Kings co-owner Ed Roski.
It was thought of a dangerous venture on the time, when the gritty blocks close to the Los Angeles Conference Middle had been deemed undesirable by most actual property builders. AEG added the $3 billion L.A. Reside advanced in 2007, and different builders additionally moved into the South Park district, constructing resorts, eating places and hundreds of residential items.
The favored venues have now hosted 22 Grammy Awards exhibits, a Democratic Nationwide Conference, two Stanley Cup championships, six NBA championships and All-Star hockey and basketball weekends.
That prime-profile success gave it an edge when competing to construct or purchase around the globe. AEG has expanded to personal and function greater than 100 venues serving 100 million visitors yearly. Amongst its holdings are the Los Angeles Galaxy soccer workforce and German professional ice hockey workforce Eisbären Berlin. Because the second largest occasion promoter on the planet, it places on massive festivals together with the annual Coachella Valley Music & Arts Competition and American Specific Presents BST Hyde Park music competition in London.
It has confronted slowdowns and different robust intervals as effectively.
Its London area was the location of Michael Jackson’s deliberate comeback introduced in 2009. Throughout a interval when he was rehearsing for the bodily demanding exhibits, Jackson died.
His mom and three kids sued AEG Reside in 2010. The lawsuit alleged that AEG was negligent in its hiring of the doctor who administered the deadly dose of propofol that led to Jackson’s loss of life. A Los Angeles jury unanimously determined that the live performance promoter wasn’t liable within the singer’s loss of life.
“Individuals heard of AEG due to Michael Jackson and the next lawsuit from the household,” stated Randy Phillips, former supervisor of music promotions at AEG. “They’d by no means have even recognized what it’s.”
The corporate was laid low in the course of the pandemic, when reside occasions had been canceled beginning in March 2020. Venues stayed darkish till effectively into 2021, when AEG began placing on sports activities occasions with no audiences and later with restricted seating. Instances modified in 2022 when revenues reached new data as followers stormed again, Beckerman stated.
“We had been all very pleasantly stunned,” he stated. “I feel folks realized in the course of the pandemic that there actually is not any substitute for reside occasions.”
AEG additionally misplaced a longtime area tenant when the Los Angeles Clippers moved to a brand new area in Inglewood after the workforce’s lease at Crypto.com Area expired in 2024. Proprietor Steve Ballmer stated he wished the Clippers to have their very own residence that they didn’t share with different groups.
AEG’s touring enterprise lifted off with a 2001 live performance with Britney Spears at Staples Middle.
“The Britney Spears tour is what broke the corporate broad open,” stated Phillips, who turned head of music promotions for AEG after touchdown Spears. “That’s once we turned gamers.”
Large acts adopted together with Tom Petty, Paul McCartney, Tina Turner and Pink.
AEG expanded its U.S. live performance touring empire by constructing massive multipurpose arenas in Las Vegas and Kansas Metropolis. It is also establishing a community of smaller venues such because the El Rey Theatre in Los Angeles and the Showbox in Seattle. It lately opened the Pinnacle at Nashville Yards, a live performance corridor that’s a part of a mixed-use district together with housing and workplaces that AEG and an area accomplice are growing in downtown Nashville.
Its highest-profile property exterior of Los Angeles is in London, the place the corporate resurrected a big dome-shaped constructing constructed to accommodate an exhibition celebrating the flip of the millennium in 2000. After AEG’s redevelopment of the location, the O2 Area turned one of many world’s busiest venues for leisure and sports activities with 10 million guests a yr.
In Berlin, the corporate constructed the Uber Area, one of many highest-grossing arenas on the planet and a part of an leisure district with eating places and theaters.
The Nagoya venture is a part of the corporate’s pan-Asian technique to develop its actual property empire and create extra venues for artists like Taylor Swift and Ed Sheeran.
The USA and Europe, the place AEG has lengthy been energetic, are largely built-out with fashionable arenas for sports activities and leisure, however many Asian nations are able to improve their outdated amenities.
“Japan is on the prime of the listing” for AEG, stated Ted Fikre, head of growth on the firm.
The nation’s venues are sometimes a long time outdated and pale compared to fashionable multi-use arenas sometimes discovered within the U.S. and Europe.
The IG Area in Nagoya, with a capability of 17,000, is anticipated to yearly host 150 occasions for 1.4 million attendees at concert events, basketball video games and different reside leisure.
AEG has an excellent bigger growth within the works in Osaka. Plans name for an 18,000-seat area that can anchor an leisure district with resorts, workplaces, retailers and eating places together with housing. Valued at greater than $1 billion, Fikre in contrast the Osaka venture to its largest mixed-use districts — L.A. Reside in Los Angeles and the O2 in London. The venture is ready to interrupt floor in 2027.
In partnership with the NBA, the corporate constructed Mercedes-Benz Area in Shanghai in 2010. It’s also concerned in plans for South Korea, Singapore and Thailand.
“The ambition for us is to determine a robust presence all through the Asia area, and we’ve bought a very good head begin,” Fikre stated.
A panoramic view of L.A. Reside in Los Angeles, CA on Friday, July 18, 2025.
(Myung J. Chun / Los Angeles Instances)
AEG opened a 4,500-capacity venue in Bangkok final yr with a live performance by Ed Sheeran. The corporate can also be working with one in all Thailand’s largest mall operators to construct an 18,000-seat area in a sprawling regional mall simply east of Bangkok, set to open in 2028.
AEG’s community of venues all through Asia makes it simpler to ebook big-name artists.
“It’s a bit tough to tour in Asia due to the expense of touring across the area,” Fikre stated. “It’s not such as you’re within the U.S., the place you simply take a bunch of vehicles” from metropolis to metropolis.
Aerial view of Crypto.com Area and the L.A. Reside sports activities and leisure district of Los Angeles.
(AEG)
Swift accomplished the worldwide leg of her most up-to-date tour final yr that included six nights in Singapore and 4 nights in Tokyo to sold-out audiences booked by AEG Presents as her worldwide promoter. Sheeran performed in Bhutan, India and different Asian nations he hadn’t beforehand visited in venues booked by AEG.
The worldwide development now works in each instructions for AEG, with Okay-pop acts corresponding to BTS, Blackpink and different international stars packing AEG venues within the West.
