Country Profile: Portugal
Portugal is proof positive that investment in live music can deliver massive dividends. Local promoter Everything Is Now spent €545,000 renovating the Estádio Cidade de Coimbra in order to host Coldplay’s four shows there last May, and the city council subsequently claimed these dates added €36m to the local economy.
Álvaro Covões, founder and CEO of Everything Is Now, referred to 2023 as “amazing” in terms of live business, with the Coldplay shows key to that.
He describes 2024 as “so far so good” but adds a note of sobriety by saying that demand for live “is not so strong,” as Portuguese consumers have experienced spiralling living costs, which naturally affects their entertainment spend.
“We depend on the available money in the pocket,” he says. “The market is very small. We are only 10m people.”
He cites Depeche Mode and 30 Seconds To Mars as standout shows in 2024, adding that Portugal also benefits from being a destination for Brazilian superstars, notably Roberto Carlos and Ney Matogrosso this year.
“The market is very small. We are only 10m…
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