Swansea Council will get a share of the profits from the Swansea Arena in due course as well as rent and a percentage of ticket sales, the venue's director said. Lisa Mart, of Ambassador Theatre Group (ATG), told a group of councillors that rent and ticket share contributions had been paid to the authority since the arena opened last year and that the profit share arrangement was being worked on.
The council largely funded the construction of the 3,500-capacity arena, which Mrs Mart said had proved large enough for acts which then went on to play at bigger venues in Manchester and London. "The first year has been an absolutely great success for us," she told the council scrutiny panel. You can read an interview with Lisa Mart here.
Mrs Mart conceded that the number of ticketed events was lower than originally planned, but she added that initial forecasts had been made before the Covid pandemic in what was "a very different world". She also said that ticket sales were higher than expected.
