London’s O2 Arena, the UK’s second-largest indoor concert venue, has announced it will donate a portion of proceeds from its concerts to grassroots gig venues across the country.
The 20,000-capacity venue has partnered with the Music Venue Trust charity (MVT), which has been pushing for artists and arena operators to support the venues that often provide a space for musicians to hone their craft, before they hopefully step up to arena-level popularity.
Exact financial terms have not been announced, but as well as making a six-figure donation to MVT, the O2 will make further donations every time a new artist plays the venue over the next three years. There were more than 50 such performers this year, including veteran bands such as Pulp and Architects and newer pop acts such as Gracie Abrams.
Heralding the O2’s announcement was Ben Lovett, multi-instrumentalist with Mumford & Sons, who perform at the O2 this week; Lovett is also an entrepreneur whose company TVG has opened concert venues in cities including London, Los Angeles, and Huntsville, Alabama, and he has separately donated to MVT.
“We think it’s brilliant that a venue like the O2 is making a meaningful donation,” he said. “To contribute, as we all should, towards a more sustainable ecosystem within live music in the future.”
He referred back to Mumford & Sons’ first O2 headline concert in 2012, “back when many of the venues where we had cut our teeth, including the Luminaire in Kilburn where we played our first headline show, had started closing down. This trend has only continued, in London and across the country.”
More than 150 grassroots venues have closed in the UK since 2023. Factors affecting these venues include the cost of utilities, ongoing recovery from Covid losses, and a further loss of revenue due to the cost of living crisis prompting less gig-going among the public.
Emma Bownes, senior vice-president of venue programming at the O2 Arena’s parent company AEG Europe, said: “Every artist who headlines the O2 for the first time reflects the strength of that grassroots network … we’re investing in the pipeline that nurtures the next generation of breakthrough artists and ensures they have a place to start.”
MVT has called for a £1 levy on tickets at venues above 5,000 capacity, to be covered by artists and venue operators, and to be fed back into supporting grassroots venues. Sam Fender is among the artists supporting the charity, donating £100,000 from his 2024 arena tour, and then the £25,000 prize money from his Mercury prize win this year.
MVT is also using its Music Venue Properties scheme to bring certain UK venues into community ownership, with members of the public contributing funds and receiving a return on their investment.
The charity’s head Mark Davyd said the O2 funding was “hugely significant and welcome”.
It may have an official 20,000 capacity, but last month Radiohead broke the record for the highest attendance at an O2 concert, with 22,355 – enabled by a relatively small stage located in the centre of the arena floor.
