Live Nation To Take Over Palais Theatre For Next 30 Years

Following months of speculation regarding the future of St Kilda's Palais Theatre, US giants Live Nation have today been announced as the new leaseholder and operator of the iconic venue. 

Live Nation have secured a 30-year lease of the Palais, after Port Phillip Council selected it ahead of Sydney-based Playbill Venue Management. 

"Live Nation's proposal met or exceeded all our objectives and we are excited at what can now be delivered for our community and live music fans across Australia," a statement from the City of Port Phillip reads.

"We welcome Live Nation aboard and look forward to this much loved St Kilda venue delighting audiences for years to come."

Meanwhile, president and CEO of Live Nation Australia and New Zealand, Michael Coppel, said the company is "thrilled" to have secured the lease of the beloved establishment.

"Both as a major presenter of live events and as a Melbourne-based and staffed music business firm, we are very aware of how important the venue is to the St Kilda community and to the people of Melbourne in general, and what a very special performance space it is," Coppel said. 
 
"To have been granted stewardship of this iconic venue carries a great responsibility, and we will seek to restore the Palais to its former glories, to better adapt it to the changing requirements of live performances, and to operate it for the benefit of all stakeholders, hirers, staff and patrons.
 
"We look forward with great enthusiasm to successfully navigating the opportunities that lie ahead."

Live Nation have committed to the establishment of the Palais Theatre Community Fund (PTCF) which will be funded by a $50c contribution from every ticket sold. The PTCF has the potential to generate more than $4 million over the 30-year lease, which will go towards a number of community initiatives. 

Earlier this year, widely respected promoter Michael Chugg of Chugg Entertainment slammed the idea of Live Nation taking over the Palais.

"They bought over a whole chain of amphitheatres in America and they have run them into the ground," Chugg said this past May.

"When you book a venue for a concert they want to know who the act is. So you will be in a situation where you are telling a rival who the act is before that act is booked. And that rival will be running the venue."

Port Phillip Council surprisingly dumped former operator Neil Croker in January of this year, following a hugely successful nine-year stint which also saw the Palais named as one of the top 25 highest-grossing venues in the world in 2013.