Approves a contract with AEG Presents - Rocky Mountains LLC for commission payments for events using assorted venues for Denver Arts & Venues locations starting 2025 through end-of-year 2029, in Council Districts 9, 10, and Mountain Parks (THTRS-202578935).

Summary

The City Council is considering a contract with AEG Presents - Rocky Mountains LLC to promote and book live events at Denver Arts & Venues locations, including Red Rocks Amphitheatre, Denver Coliseum, and the Denver Performing Arts Complex. This contract, effective from January 1, 2025, through December 31, 2029, is based on a commission program where AEG Presents receives a portion of the revenue generated from bookings. The contract has a total value of $25,000,000 and is intended to incentivize commercial promoters to utilize city venues, generating revenue through rent, parking, concessions, and taxes. This commission program has been in place in various forms since at least the early 1980s.

Citizen Impact

Residents can expect a continued schedule of live events and concerts at major city venues, with potential for increased revenue for the city that can be reinvested in public services.

Confidence

high