Figueira da Foz, ~Portugal, June 17, 2025 (Lusa) - The entry of the multinational Live Nation into Portugal is beneficial for the music industry and, rather than a threat, is a challenge, said the executive director of MOT - Memories of Tomorrow, promoter of the Somnii festival.
"I'm not shocked by the entry of large multinationals, and, for those who don't know, Live Nation is to music what Microsoft is to software. And it's a sign that Portugal is strategic for the industry," Tiago Castelo Branco told Lusa.
The MOT director also argued that the world's largest producer of live events, which in 2024 acquired the Meo Arena and the national company Ritmos e Blues, is looking at our country as a destination of excellence in music festival tourism.
"We have exceptional hotel and catering conditions, we have beautiful codfish, beautiful wine, we have sunshine, we are a safe country, we have infrastructures capable of hosting major events. So a Live Nation doesn't come to the Portuguese market because we're beautiful, it comes because it sees the possibility of doing business," said Tiago Castelo Branco.
"If the biggest multinational in the music business sees a business opportunity, don't we also have to see that this opportunity exists? Of course we do," he added.
On the other hand, Tiago Castelo Branco argued that if tourism represented 12.7% of the national wealth generated in 2023 (corresponding to a direct and indirect contribution of €33.8 billion), "it would be interesting to do a study on how much our industry represents" in that percentage.
"And maybe they'd be amazed and that's what foreigners are betting on," he emphasised.
A few years ago, MOT carried out a study, sent to England, on how much it would cost an English citizen living in Manchester to go to RFM Somnii, the electronic music festival it organises every year at Praia do Relógio, in Figueira da Foz, on the coast of the Coimbra district.
According to Tiago Castelo Branco, the price of travelling on a low-cost airline, a transfer from Porto airport to Figueira da Foz, a four-star hotel, lunch and dinner for three days, beer for €1.50 or €2 “and not £7” (€8.2 at today's prices), the total cost "wouldn't amount to £100 (€117) a day", he claimed.
"Who knows, if you go to London or Manchester, you can't sleep for £100 a day. Just sleep. And so doing big events in Portugal is highly attractive, the ticket is much cheaper, it's cheaper to come to a concert in Portugal than to go to Manchester, for those who live there," he noted.
Tiago Castelo Branco also stated that at the recent Andrea Bocelli concert at Leiria's municipal stadium, MOT sold tickets in 46 countries worldwide.
"And why do people come to Leiria? Firstly, they're visiting Portugal and they take the opportunity to see the concert. Secondly, it's much cheaper to come to Portugal than to go to London, New York or Paris to see the same show. This is our opportunity," he emphasised.
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Lusa
