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.

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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.”