Moderator: Steven Spickard, Economics Research Associates
Joe Brauner, CAA
John Meglen, AEG Live / Concerts West
Melissa Miller Ormond, Madison Square Garden Entertainment
Scott Schecter, Harrah’s Entertainment
Charlie Walker, C3 Presents

Scott Schecter, John Meglen, Charlie Walker, Stven Spickard, Melissa Miller Ormond amd Joe Brauner

Although mid-size venues can be used to fill an important niche in many markets, the rules of the game aren't always the same, and the difference between a successful 4,000- to 8,000-seater and an empty room takes a whole lot of preparation, panelists explained.

One way to cut the risk of opening a mid-size venue is by integrating it into a larger development, Harrah's Scott Schecter said.

"As a standalone model, there's challenges, but moving ahead we're seeing this more and more with e-tertainment districts that are being opened up and using these size venues as the anchors," Schecter said.

Another way to ensure success is to make sure the facility can serve a variety of purposes, according to AEG's John Meglen.

John Meglen

On the other hand, multifunctional does not necessarily mean cutting down an arena to create the illusion of a smaller space, as panelists explained the stigma that can sometimes accompany those shows.

"Each artist and their manager is different," CAA's Joe Brauner said. "Some managers won't even entertain a cut-down arena play because there's that perception that you know you're in basically an adapted environment."

Melissa Miller Ormond

Older mid-size venues can provide an entirely different experience for the artist and the fans, as long as the work has been put in to keep them technologically and visually up to date.

"From a customer standpoint, I think you want to look for places that have been remodeled or are new to the extent that you feel like you have the ability to compete at a higher price point," C3's Charlie Walker said.

Meglen agreed that the intimacy of mid-size venues makes competing at that level easier.

"What's happening now with the 7,000 seater is that it's a different customer experience, it's a different customer price point," he said. "We need to create different levels and packaging and categories for these people. You go into a 7,000 seater, we all want to see our favorite artists in a more intimate hall ... and we can charge more for that and provide higher services."

For example, mid-size venues can provide elevated food and beverage experiences, premium packaging and various levels of access far easier than larger facilities, Schecter added.

And providing elevated services in mid-size buildings may just be the next step in improving the fan experience, Economic Research Associates' Steven Spickard explained.

"We're a wealthy enough society and we're able to afford more and more specialized things," Spickard said. "What used to be stadiums that were multipurpose ended up being split up. ... I see this as the next stage in that evolution."