The $800 million redevelopment aims to revitalize the District’s sports and entertainment footprint.
Monumental Sports & Entertainment (MSE) on Wednesday named Ticketmaster, a subsidiary of Live Nation Entertainment (LYV), as the newest Founding Partner for its forthcoming arena in downtown Washington, D.C.
Ticketmaster joins United Airlines (UAL) and Vanda Pharmaceuticals (VNDA) as the third Founding Partner in MSE’s arena transformation initiative. The overhaul is an $800 million-plus redevelopment aimed at revitalizing the city’s downtown core.
Under the agreement, Ticketmaster will be integrated across MSE’s ecosystem, including its professional sports franchises, the new arena’s design and technology infrastructure, and Monumental Sports Network (MNMT), the company’s broadcast and digital media platform. The company stated that the partnership will support MSE’s efforts to create a data-driven, seamless fan experience across live events.
Earlier on Wednesday, Live Nation reported that Ticketmaster processed 89 million fee-bearing tickets in the third quarter, a 4% increase from the same period last year, while the fee-bearing gross transaction value rose 12%.
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