Barclays Center Named Most Profitable Venue in U.S.

Barclays Center Named Most Profitable Venue in U.S.Image courtesy of Willie Davis (New York Times).

Less than a year after its grand opening, the Barclays Center has been named the top-earning U.S. venue for family shows and concerts. Since opening its doors last September, it's earned $46.9 million, topping Madison Square Garden, which raked in $39.5 million. 

Billboard recorded ticket sales between Nov. 1 and May 31. of this year, excluding sporting events to determine the figures. Due to the number of tickets sold, the Barclays Center was second worldwide only to the $119 million that London's O2 Arena pulled in. 

The reason for the Barclays Center's early success? Its appeal to a young audience. “The demographics of Brooklyn have worked very well for Barclays. Whoever is booking the shows there is booking acts that fit well for that young demographic,” explained TiqIQ vice president Chris Matcovich. 

Matcovich says renovations might have stunted Madison Square Garden's production during the monitored period. A representative for the Garden told the New York Post: "The transformation affected us for two months — that’s more than a quarter of the time we’re talking about [in the rankings]. We were shut down. That’s a big factor."

Another reason the Barclays Center was so popular: Its association with Jay-Z.

[via New York Post]

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