Kristyna O'ConnellCoventry Building Society Arena (cap. 32,609) has reported a 14% revenue increase in the past six months compared to the same period in 2023, driven in part by the launch of a new live events arm.
The venue, which went into administration before being bought by Mike Ashley’s Frasers Group in November 2022, said it had welcomed nearly 320,000 visitors during the half-year period while hosting 200 events with talent including England’s Lionesses, Sean Paul and Bryan Adams.
Fraser Group said the growth had come during a period that saw the venue launch new live events proposition CBS Live, with the aim of positioning it as a venue of choice for promoters in the Midlands. The venue has also been the subject of investment in the creation of new lounges and refurbishment of office spaces.
The company said the growth at CBS Arena has corresponded with record-breaking tourism across Coventry, with the city attracting a record 11.39m people in 2023.
CBS Arena MD Paul Michael said the venue has been transformed since being acquired and the ownership has given the business strong foundations for growth: “This time last year we set our strategy for growth and after only 12 months we are already starting to reap the rewards of that work, particularly in the development of our live events portfolio and strong growth across our conference and exhibitions business.”