It’s no secret the concert industry is changing. Generating almost $19 billion in the United States in 2024, it is a long way from becoming a dying industry but the ground is shifting. As audience tastes change and ticket costs go up, small venues find themselves struggling, while at the other end, large scale arena concerts are doing better than ever. This has created a gap industry veterans have scrambled to fill, with many desperate for fresh ideas.
Enter JW Roth, CEO of Venu, the brains behind Colorado Springs’ newest outdoor venue, Ford Amphitheater. Prior to the construction of the Ford, Roth knew there were some boxes that needed to be checked to satisfy modern audiences; premium seating, state-of-the-art audio and visuals, better bathrooms, more parking lots, wider seats, high end green rooms for the artists, easily accessible seating (here’s looking at you Red Rocks), and higher quality food and beverage.
Knowing that ticket and alcohol sales would not be enough to cover the costs, Roth applied the novel idea of fractional ownership, something not regularly explored in live music. Roth included an array of fire pits in the construction of the amphitheater; those fire pits are then able to be purchased by fans and local businesses. “It’s not unlike owning a condominium,” says Will Hodgson, President of Venu. “You physically own the space and you can resell it if you want. Essentially, you make the up front investment, which varies depending on the fire pit’s location and how many people can fit in the fire pit, and you get access to those tickets to every for-profit show at the venue.”
“People are extremely happy. We’re in year two and we’re still developing a really strong reputation. Every band, every agent I talk to is just blown away.”
This concept of fractional ownership was a big part of Hodgson’s decision to leave an impressive career as the president of the House of Blues division of Live Nation, one of the largest ticketing companies in the world. But also, he saw a chance to have input on the future of concert going experiences in an industry in desperate need of updating.
“The accommodations, both from a guest and artist perspective of most outdoor amphitheaters are not great. If you really look at the average age of an amphitheater of 10,000 capacity or more, it is thirty or forty years old with very little reinvestment,” states Hodgson. “You’re starting to see that a lot of acts that size are playing arenas and stadiums and arenas have been upgraded.”
In the short time it has been open, Ford Amphitheater has received glowing reviews from music lovers and artists alike for the amenities and attention to detail, drawing crowds from Colorado Springs, the Denver metro area, and beyond. This influx of money being spent in the area has made Ford Amphitheater a driving force in the local economy. Hotels and restaurants are springing up around the amphitheater, with the Venu team leading that charge and leveraging some impressive partnerships opening Bourbon Brothers Smokehouse & Tavern, Phil Long Music Hall, Brohan’s Cocktail Lounge, and Roth’s Sea & Steak, which they brought in a Michelin Star chef and general manager for.
“People are extremely happy. We’re in year two and we’re still developing a really strong reputation. Every band, every agent I talk to is just blown away,” muses Hodgson. “It’s a really attractive place to play, and we have already quadrupled the amount of pending offers for the next season.”
Looking ahead, Hodgson is excited for the two similar amphitheaters Venu is opening in Broken Arrow, Oklahoma and Gainesville, Georgia as their business model builds steam. In the short term Hodgson hopes to open the space up year round to host community events like high school graduations and wine festivals. He also sees it becoming a hub to develop small musicians, something reminiscent of his early days booking bands in dive bars in San Francisco.
“One of the pre-interview questions I got was, why is it important to support local musicians?” recalls Hodgson. “We’re trying to create a vibe (in Colorado Springs) for live music. The city has its venues but it’s not top of the mind for people. And I think the amphitheater provides a tent pole for a greater burgeoning music scene down here.”
