Just how thriving is the experience economy? So much so that Madison Square Garden, which opened (at least in its current location) in 1968, will host more concerts this summer than ever before in the arena's history.
«This summer, from June through August, we will perform 57 shows at Madison Square Garden, which is the most in our history,» Josephine Vaccarello, executive vice president of MSG Entertainment, said in an interview. The Hollywood Reporter . "Our second-highest tally is 37 concerts, so we'll beat that by a long shot.".
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It's clear by now that, post-COVID-19, consumers are hungry for entertainment experiences. This is evidenced by the boom in theme parks from companies like Disney and NBCUniversal, not to mention the skyrocketing ticket prices and demand for concerts and top-tier sporting events (in some cases, courtside seats at the Garden for the upcoming NBA Finals were priced at over $100,000).
«"I think people want that connection, they want to feel that same feeling with people who share their views, and to experience it live. There's nothing like that, you know?" says Vaccarello. "Watching something on TV or video is great, of course, but nothing compares to the feeling of standing in an arena with 18,000 people, and everyone is singing the same word.".
MSG Entertainment, which owns the Garden Stadium, as well as venues like Radio City Music Hall and the Beacon Theatre, hopes to attract more fans with a campaign called See It Live Summer to "enhance the experience at our venues for all fans.".
MSG Entertainment has more than 100 events planned for the summer across three New York City venues.
«We host over 100 events at our venues during the summer,« adds Vaccarello, »and it’s truly a celebration, focused on engaging with fans and enhancing the experience for everyone who visits our venues, ensuring they see this as the best place to see a show this summer, including annual events like the Tony Awards and the Tribeca Film Festival, concerts by Bon Jovi and Olivia Dean, and a three-week concert tour of Les Misérables at Radio City.«.
In fact, one of the main reasons Madison Square Garden and other MSG venues are so busy this summer is that artists and shows aren't limited to a single weekend. Vaccarello says that to meet the growing demand for live performances, artists are holding residencies, mini-residencies, and adding more shows than before. For example, Bon Jovi will play nine shows at MSG, and Rush will play four. John Oliver and Seth Meyers have a residency at the Beacon starting in 2024, having performed there dozens of times.
To enhance the experience, MSG's See It Live Summer program will feature a photo booth in the Kalshi lobby perfect for Instagram shots, as well as a See It Live Summer Snack Shack serving up dishes like lobster hot dogs, fries, and fried Oreos.
The Scream Truck will be set up outside MSG on Tuesday, Radio City on July 13, and Beacon on August 17, offering free ice cream to passersby, with other giveaways planned. The company will also expand its behind-the-scenes tours at Radio City and MSG, offering visitors the opportunity to experience the show beyond the concerts.
«It’s not just about coming to a concert at Madison Square Garden,« says Vaccarello. »We want the entire experience, from purchasing a ticket to arriving at the venue and throughout the event, to be memorable, and we try to create those little touchpoints.».
In an entertainment industry increasingly focused on real-life experiences (see Barry Diller's $18 billion purchase of MGM Resorts), these small details can transform an ordinary evening into a long-lasting sense of brand loyalty.
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