Friday, September 28, 2018

AEG expands into Southeast Asia, two new Bangkok arenas to open in Q4 2022 | Music Business Worldwide

AEG has entered into a partnership with Thailand-based retail and entertainment developer The Mall Group, which will see a 10 billion baht ($309 million) investment in two new arenas in Bangkok.

The two venues, the EM Live at The Emsphere and The Bangkok Arena at the Bangkok Mall, will have capacities of 6,000 and 16,000 respectively.

Both arenas are scheduled to open by the end of Q4 2022.

The deal marks AEG’s first major investment in Thailand and Bangkok, which has recently been named the world’s most visited city for the third consecutive year.

AEG will be responsible for the management and operation of the two venues and will work in collaboration with The Mall Group and its partners in offering and marketing a wide range of events.

Over the past decade, AEG has brought artists such as Justin Bieber, Celine Dion, Katy Perry, Ed Sheeran, Taylor Swift, Metallica and The Rolling Stones to Asia.

“Consumers in the region are demanding more sophisticated entertainment experiences.”

Adam Wilkes, AEG Asia

“Southeast Asia is going through a transformation. As incomes rise and spending power increases, consumers in the region are demanding more sophisticated entertainment experiences,” said Adam Wilkes, President and Chief Executive Officer, AEG Asia.

“In The Mall Group, we have not only found an outstanding partner but also an innovative company that is led by an insightful and forward-thinking leader, Khun Supaluck. The company shares our vision for creating best-in-class destination experiences and our partnership will bring unique entertainment districts to the city that will redefine and revolutionize Bangkok’s leisure and entertainment scene.

“We are thankful to have a long-term partner that shares our vision and goals. These two significant developments will be a game-changer, giving Bangkok and Thailand the opportunity to become the most important retail and entertainment hub in Southeast Asia.”

Supaluck Umpujh, Chairwoman of The Mall Group, added: “The company’s mission and goal is to elevate Bangkok and Thailand to the leading Retail and Entertainment Hub in Asia.

“Following the company’s success in developing multiple world-class shopping and entertainment complexes, including Siam Paragon, the world-class retail & entertainment phenomenon, The Emporium, The EmQuartier and the upcoming EmSphere – the luxury and lifestyle retail and entertainment district at the epicenter of Sukhumvit, The Mall Group is now ready to create new mega projects.

“This will lead the way to even greater success in what it sees as a bold and pioneering step into a new era for retail and entertainment experiences.”

In January, the live entertainment division of AEG, AEG Presents, expanded into France, with the new Paris-based office headed up by Arnaud Meersseman.Music Business Worldwide


No comments: