BeatHub Entertainment announced last week that it has acquired the remaining 50 percent stake in Movistar Arena Bogotá in Colombia from Chile’s BeLive Entertainment Group, giving it full ownership of the venue. The deal consolidates one of Colombia’s main concert venues under a single operator.
Colombia’s Superintendence of Industry and Commerce reviewed the acquisition and concluded it would not materially change market conditions because BeatHub already controlled the venue’s operations. The purchase is part of BeatHub’s strategy to strengthen Colombia’s live entertainment industry.
Executive comment#
“We have been building this ecosystem for 26 years and developing the entertainment industry in Colombia. We believe in the country and the potential of this industry,” said Eduardo Olea, CEO of BeatHub. “Consolidating 100% of Movistar Arena’s ownership reflects that conviction and our decision to stay, continue investing, and continue building in Colombia with a long-term vision.”
Gabriel Sánchez, Director of Strategy at BeatHub, said the Bogotá venue and the upcoming DAVIarena in Medellín would give the company two world-class arenas in Colombia’s main cities. “This will allow us to strengthen Colombia’s strategic position within the routing of tours in Latin America,” he said.
Venue profile#
Movistar Arena Bogotá has operated since 2018. Key figures include:
- More than 5.5 million visitors
- Over 400 artists hosted
The venue may be renamed Tigo Arena following Movistar’s exit from Colombia’s telecommunications market.
Regional and global venue deals#
BeatHub’s move follows Live Nation‘s partnership with BeLive Entertainment to acquire a majority stake in Movistar Arena Santiago in Chile. Live Nation also recently acquired Impact Arena in Thailand, expanding its live entertainment footprint beyond the Americas. The company is facing a major antitrust case in the United States.
