“I am not shocked at all by the entry of large multinationals, and for those who don’t know, Live Nation is to music what Microsoft is to software. It indicates that Portugal is strategic for the industry,” said Tiago Castelo Branco to Lusa agency.
The director of MOT further argued that the world’s largest live event producer, which in 2024 acquired the Meo Arena and the national company Ritmos e Blues, views the country “as an excellent destination for music festival tourism.”
“We have exceptional hotel and restaurant conditions, a beautiful codfish, fine wine, we have sun, we are a safe country, we have infrastructure capable of hosting large events. Therefore, Live Nation is not entering the Portuguese market because we are beautiful, but because they see a business opportunity,” illustrated Tiago Castelo Branco.
“If the biggest music multinational in the world sees a business opportunity, shouldn’t we also see this opportunity? Of course, we should,” 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 euros, “it would be interesting to conduct a study on how much our industry represents” within that percentage.
“And perhaps, you would be astonished, and this is what foreigners are betting on,” he emphasized.
A few years ago, MOT conducted a study, sent to England, on the cost borne by an English citizen, resident in Manchester, attending the RFM Somnii, the electronic music festival organized annually on the Relógio beach in Figueira da Foz, on the coast of the Coimbra district.
According to Tiago Castelo Branco, the price of travel with a low-cost airline, a transfer from Porto airport to Figueira da Foz, a four-star hotel, lunch and dinner for three days, drinking beer at 1.5 euros or two euros “and not seven pounds” (8.2 euros at current prices), the total cost “didn’t reach 100 pounds (117 euros) per day,” he claimed.
“Whoever knows, those visiting London or Manchester, can’t sleep for 100 pounds per day. Just for sleeping. Therefore, organizing large events in Portugal is highly attractive, the ticket is much cheaper, it’s cheaper to come to a concert in Portugal than to attend one in Manchester for those living there,” he observed.
Tiago Castelo Branco also mentioned 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? First, they are visiting Portugal and take advantage of attending the concert. Second, it is much cheaper to come to Portugal than to go to London, New York, or Paris for the same show. This is our opportunity,” he emphasized.
