Co-op Live tops £850m in first-year sales
The UK’s largest live entertainment arena has generated more than £1.3bn in total turnover created by visitors in and around the venue, according to an economic impact report from Lichfields.
After well-documented teething troubles as the opening date neared, the venue opened in May last year, a few weeks after its intended launch date. Overall costs for the project had climbed from an initial £365m to £450m.
According to Lichfields, Co-op Live has delivered a £785.5m boost to the UK economy in GVA terms, with a total turnover of £1.3bn since breaking ground in 2021.
The venue was delivered by contractor BAM for Oak View Group, the developer of the project in partnership with City Football Group and Harry Styles. Elbow played the first show, a year ago today.
In its first year of operations, Co-op Live has achieved £852.2m in turnover and £455.5m in GVA, which it will look to grow as the volume of events is increased.
Lichfields said that £330m in GVA had been contributed during the construction phase, and £455m in GVA in a first year of operation that saw 105 events attended by 1.5m customers.
Twelve UK-exclusive shows have been held at Co-op Live, including shows by the Eagles, Pearl Jam, and Paul McCartney. The venue is expected to host 150 events annually over the next decade.
Tim Leiweke, chief executive of OVG, said: “I’ve seen new arenas spur economic growth in every city we have built in, and Co-op Live has delivered this in spades.
“We invested heavily in Manchester with our partners to ensure the city has the world’s best music arena, and I’m proud to see the economic benefits of this investment being experienced.”
Last month, Co-op Live went out to consultation on plans for canalside development next to the arena, which would include a cafe, bar and merchandise store – accommodating 600, this would also effectively serve as a secondary events space. Plans will be submitted soon.
Roel de Vries, group chief operating officer at City Football Group, said of the Lichfields report: “This report demonstrates that not only has Co-op Live brought world-class events to Manchester, but it has also had a significant and lasting economic impact.
“Our joint-venture partnership with Oak View Group to bring the arena to East Manchester is a continuation of our investment in this area, and we’re proud to be delivering positive change to our local community and the wider city.”
The venue’s development initially went out to consultation in 2019, triggering opposition from the operator of the 1990s-built venue at Victoria Station, now known as the AO Arena, protesting that the city would not be able to support two large-scale venues.
With those protests falling on deaf ears, ASM Global instigated an investment programme to revamp its own offer, completing a £50m upgrade in 2024.
In the meantime, Manchester City Council had found itself on the hook for escalating costs at the Factory International venue, a smaller, more flexible destination. The 143,000 sq ft facility was estimated at £110m at its 2017 outset but was eventually delivered for a figure in excess of £240m.
The outcome of all this is that around £700m has been spent across three major venues in recent years, while huge outdoor summer shows at the likes of Heaton Park and various sports stadia remain a big draw too.
On Co-op Live’s landmark, Cllr Bev Craig, Leader of Manchester City Council, said: “For decades, Manchester has been celebrated for its musical heritage. With music in its DNA, the city is further bolstered not just by the global reputation of Co-op Live, but its collaborative and supportive approach to Manchester’s full music ecosystem.
“From linking with local new music venues and artists, to showcasing some of the city’s best new music, it’s rapidly become one of the cornerstones of Manchester’s ongoing legacy.”
Given it costs about £9 for a tiny can of cider, I’m sure nobody who has visited is surprised..
By Anonymous
It would be really interesting to know how many visitors has it attracted
By Curious
Gotta admit, aside from the teething problems, it’s been a success. I’ve been to several gigs there and everything has been great. You can goto that area now and can almost forget the Etihad is there – which is handy if you’re ANOTHER type of supporter 😉
By Crazyjohn
Aside from the crazy drink prices this arena is such a win for the region I have been several times already and it really is a world class facility
By Anonymous
Is that additional revenue or what has been taken from other arenas across Manchester? A great addition to the Manchester scene, but at what cost to an already tight market.
By Steve5839
Haven’t seen the Lichfields report, but is it genuine that it has turnover of £70m per week? Even if the venue was constantly full and used the 150 times/annum they are targeting (so perhaps not at this point), that suggests each person is spending somewhere circa £250.
By Mark Aylward
The new arena is fab and I know for a fact it is making the haters LIVID
By Anonymous
Well – lets all look back to all of the scaremongering in 2019 from a number of commercial, retail and hospitality players in the city about the damage a second arena would do to the city centre..
Six years on the Council were right: the two Arenas can co-exist and the addition of the OVG Co-op Live Arena has added significantly to the city and to the north of England’s leisure and hospitality offering. Well done Manchester City Council.
By Anonymous
Well it’s fair to say it’s proved me wrong. I wonder what the AO arena has done in response? I prefer the Bridgewater Hall myself though but then I am quite old, civilised and disgustingly rich.
By Lord Adonis
Its turned over £850m in its first operational year, yet only contributed £75.5m through its whole construction/operational life – so it is a net drain on the economy?
Either some flawed work here, or the project is an economic disaster. Suspect the former but this needs clarifying if these (as ever made-up) economic numbers are to be taken even vaguely seriously.
By GVA
Beyond my pay grade.
By A Pensioner
I’ve had a great experience of attending events at the Co-op live, however the public transport system has been a let down. The trams have been a complete let down, it must be awful following a match at the Etihad.
By Anonymous
For those that have used the Co-Op, I’d be interested to know what makes it such a good venue compared to the competition?
By Anonymous
Seen Pearl a there last year. It’s a soulless place
By Anonymous
For those describing the venue as “soulless” (I don’t agree by the way), the great thing about an arena, is the people follow the acts, not the venue. OVG/ Coop Live are clearly able to attract and secure the best acts. No doubt, a shiny new venue helps them with this.
With some support around infrastructure to improve the experience (out of their hands), this would truly be a special place
By Anon
I have been to several gigs at the Co-Op live and had the most pleasurable experience at each gig, the drink prices are in line with all the other arena’s up and down the country, the sound quality is amazing, gotta be the best arena in the UK, I know it’s the biggest. GREAT VENUE
By Jon