Industry News

Lady GaGa’s Vegas residency to earn $75m

Lady GaGa has signed a two-year residency deal with the Las Vegas MGM Park Theatre, which is predicted to earn her a total of $75m (€63m/£56m) through ticketing revenue among other factors.

Ticket prices and costs of the various meet-and-greet packages are yet to be decided upon, but the move is seen as heralding a new era in the US gambling capital’s entertainment scene.

Throughout the past two years, several other artists have agreed similar residency deals in the Nevada city, including Britney Spears, Jennifer Lopez, Backstreet Boys, Ricky Martin and Pitbull.

Alongside Lady Gaga, Bruno Mars was also announced as another resident for 2018 at the 5,200-seat theatre.

Las Vegas’ live entertainment residency portfolio has traditionally offered older artists the opportunity to play out the rest of their careers.

Celine Dion started the modern residency trend in 2002 when she was at the peak of her career. Her first stint, A New Day…, earned around $444.69m, according to 2016 inflation rates, in five years. It remains Las Vegas’ most successful residency ever, with Dion playing to more than three million people during that time.

Britney Spears’ Piece of Me residency, which launched in 2013 and will finally end this New Year’s Eve, earned around $135m in ticket sales alone. However, tickets could be up to $855 each, while meet-and-greets with the popstar went for $2,500.

Kurt Melien, president of Live Nation Las Vegas, recently described Spears’ residency as “a groundbreaking event” for the city’s entire entertainment industry.

“What followed Britney at Axis and the Colosseum was going out and getting younger artists and a wider span of genres that would mirror the changing demographic of Vegas,” he told Las Vegas Weekly. “Now we’ve got everything from Pitbull to Brooks & Dunn. The demographic is more diverse than ever.”