It’s Not Easy to Open a New Venue, But That’s Not Stopping These Music Lovers
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- Ben Lovett of Mumford and Sons opened Pacific Electric, a 750-capacity venue in downtown Los Angeles in March, through his decade-old company TVG Hospitality, in an area still recovering from Covid-19 disruption near Chinatown and the L.A. River.
- Another Planet Entertainment completed a $41 million restoration of San Francisco's historic Castro Theatre (originally built in 1922), reopening in February with a Sam Smith residency, full ADA accessibility, and the world's largest symphonic digital organ.
- Stable Hall in San Antonio's Pearl district opened in January 2024 inside a former 1894 Pearl Brewing Company horse stable, renovated for $11 million with a 1,000-person capacity, six bars, and brand-new sound systems.
- Nightclubs and smaller concert venues continue closing across the country as live event revenue concentrates on arena and stadium tours by major artists, with Another Planet Entertainment's Mary Conde calling the concert promoter business plan "pretty insane."
- Pacific Electric distinguishes itself with high-end artist amenities, including a green room with a skylight, piano, bar, and walk-in shower — Lovett's stated goal is to bring "hotel-level amenities to the back of house" so touring musicians play more relaxed shows.
Why it matters: Three mid-size venues are betting that artist-first design and community-rooted spaces can anchor neighborhood revival even as small clubs shutter nationwide. With combined investments exceeding $52 million at the Castro Theatre and Stable Hall alone, the operators are explicitly wagering that restored historic character and musician comfort — not headline acts — will draw audiences back.
