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 fanatics across the globe.
AEG, the corporate behind Crypto.com Enviornment and the L.A. Dwell district, has turned its know-how about internet hosting and selling huge exhibits right into a components 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 world success tales. With greater than 20,000 workers and billions of {dollars} of tasks working at anybody 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 totally different occasions in a day.
“We learned how to be nimble in moving from one to the other to really 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 Faculty. Its business is pretty simple — and extra use of every seat means provides the corporate extra capital to construct extra venues.
“You have to pick your niche, have capital, have tenacity,” he stated. “And stick with it.”
Sumo wrestlers bashed bellies this month in AEG’s latest venue on the grounds of a legendary fort. The lately opened IG Enviornment stands within the outer citadel of Nagoya Fortress in Nagoya, Japan, which was constructed within the early 1600s, when samurai battles raged within the area.
Whereas the summer season 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 Enviornment in Nagoya, Japan stands within the outer citadel of Nagoya Fortress.
(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 inns 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 referred to as the Staples Heart, which was constructed by Anschutz and Kings co-owner Ed Roski.
It was thought of a dangerous mission on the time, when the gritty blocks close to the Los Angeles Conference Heart had been deemed undesirable by most actual property builders. AEG added the $3 billion L.A. Dwell advanced in 2007, and different builders additionally moved into the South Park district, constructing inns, eating places and 1000’s 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 crew and German professional ice hockey crew Eisbären Berlin. Because the second largest occasion promoter on the planet, it places on giant festivals together with the annual Coachella Valley Music & Arts Pageant and American Specific Presents BST Hyde Park music competition in London.
It has confronted slowdowns and different powerful durations as effectively.
Its London area was the positioning 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 youngsters sued AEG Dwell 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.
“People heard of AEG because of Michael Jackson and the and the subsequent lawsuit from the family,” stated Randy Phillips, former supervisor of music promotions at AEG. “They would never have even known what it is.”
The corporate was laid low through 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 were all very pleasantly surprised,” he stated. “I think people learned during the pandemic that there really is no substitute for live events.”
AEG additionally misplaced a longtime area tenant when the Los Angeles Clippers moved to a brand new area in Inglewood after the crew’s lease at Crypto.com Enviornment expired in 2024. Proprietor Steve Ballmer stated he wished the Clippers to have their very own dwelling that they didn’t share with different groups.
AEG’s touring enterprise lifted off with a 2001 live performance with Britney Spears at Staples Heart.
“The Britney Spears tour is what broke the company wide open,” stated Phillips, who turned head of music promotions for AEG after touchdown Spears. “That’s when we became players.”
Huge acts adopted together with Tom Petty, Paul McCartney, Tina Turner and Pink.
AEG expanded its U.S. live performance touring empire by constructing giant 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 places of work that AEG and an area companion are creating 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 positioning, the O2 Enviornment turned one of many world’s busiest venues for leisure and sports activities with 10 million guests a 12 months.
In Berlin, the corporate constructed the Uber Enviornment, one of many highest-grossing arenas on the planet and a part of an leisure district with eating places and theaters.
The Nagoya mission 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 US and Europe, the place AEG has lengthy been lively, are largely built-out with fashionable arenas for sports activities and leisure, however many Asian nations are able to improve their previous amenities.
“Japan is at the top of the list” for AEG, stated Ted Fikre, head of growth on the firm.
The nation’s venues are usually many years previous and pale compared to fashionable multi-use arenas usually discovered within the U.S. and Europe.
The IG Enviornment in Nagoya, with a capability of 17,000, is anticipated to yearly host 150 occasions for 1.4 million attendees at live shows, basketball video games and different reside leisure.
AEG has a good bigger growth within the works in Osaka. Plans name for an 18,000-seat area that may anchor an leisure district with inns, places of work, outlets and eating places together with housing. Valued at greater than $1 billion, Fikre in contrast the Osaka mission to its largest mixed-use districts — L.A. Dwell in Los Angeles and the O2 in London. The mission is about to interrupt floor in 2027.
In partnership with the NBA, the corporate constructed Mercedes-Benz Enviornment in Shanghai in 2010. It is usually concerned in plans for South Korea, Singapore and Thailand.
“The ambition for us is to establish a strong presence throughout the Asia region, and we’ve got a good head start,” Fikre stated.
A panoramic view of L.A. Dwell 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 12 months with a live performance by Ed Sheeran. The corporate can be working with one in every of 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 e-book big-name artists.
“It’s a bit tricky to tour in Asia because of the expense of traveling around the region,” Fikre stated. “It’s not like you’re in the U.S., where you just take a bunch of trucks” from metropolis to metropolis.
Aerial view of Crypto.com Enviornment and the L.A. Dwell sports activities and leisure district of Los Angeles.
(AEG)
Swift accomplished the worldwide leg of her most up-to-date tour final 12 months 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 pattern now works in each instructions for AEG, with Ok-pop acts resembling BTS, Blackpink and different world stars packing AEG venues within the West.
