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The Portuguese live entertainment market is heading for full recovery at a rapid pace following the pandemic, with all major festivals taking place this summer and venues increasingly busy
But in common with other markets, staffing shortages, rising inflation, and huge increases in production costs, fuel, and raw materials are the grey clouds threatening to dampen the otherwise sunny blue skies. Jorge Silva, CEO of the 20,000-capacity Altice Arena in Lisbon, says: “International touring is recovering in 2022, but I believe 2023 will be even better. In the Portuguese market, the recovery of tourism numbers and re-establishing of airline routes also helped our industry.
“International touring is recovering in 2022, but I believe 2023 will be even better”
“In the next 18 months, business looks great for shows and corporate events, and we have almost 50% of the calendar filled with corporate and meeting industry events. I believe 2023 will be better than 2019 in terms of number of shows. In spite of that, margins are an issue due to the increasing production costs.
“Looking ahead, sustainability will be definitely at the top of the agenda, and the way we can transform our industry and our businesses will make the difference. I believe if we can connect that with the digital transformation and intelligent use of data, adding value to the customers, I see a real opportunity for the future.”
The venue is investing in its premium seating options, skyboxes, dressing rooms, and food and drink concessions but isn’t planning to undertake any major structural investments in the next 18 months, having recently carried out such works over the past few years. Artists performing at the venue include Dua Lipa, Scorpions, Il Divo, and Harry Styles.
Artists performing at the venue include Dua Lipa, Scorpions, Il Divo, and Harry Styles
Outside of the capital, Porto’s 4,000-capacity Coliseu Porto Ageas will host Macy Gray and Soweto Gospel Choir. It has recently renewed its naming rights deal with insurance firm Ageas Portugal Group.
“Thanks to this partnership, we were able to go much further in the service we provide to the public,” said Mónica Guerreiro, president of the Coliseu. The striking-looking venue – built in 1941 – is planning major refurbishment works, including the façades and the colosseum tower. Expected to cost about €3.4m, the works are not expected to significantly interrupt programming at the venue.