New Year’s Eve Proves to Be a Lucrative Night for Most Event Venues

In New York City, most people aren’t content with watching the ball drop on New Year’s Eve, since the ball is dropping in their own backyard.

That’s why the city’s countless event venues are hosting massive parties that will let New Yorkers ring in the New Year in extravagance — and venues in other major U.S. cities are following suit.

Perhaps the biggest example of this is Brooklyn’s Barclays Center, which recently signed a three-year deal to host Dick Clark’s New Year’s Rockin’ Eve with Ryan Seacrest, an entertainment special viewed by millions across the country. For this year’s event, Barclays Center booked Elton John, and will be offering guests unique food and drink options, according to Venues Today.

“For most venues, New Year’s Eve events are very successful, and artists like performing on this day, since they make more money than at any other appearance during the year,” Tony Monaco, COO of Xfinity Live!, told Venues Today. “Some venues consider it the biggest night of the year.”

Xfinity Live!, the biggest event venue in Philadelphia, is hosting a New Year’s Eve event with seven different party rooms with different themes that guests can weave in and out of based on their preference.

“New Year’s Eve is the biggest event night for private clubs as well, as everyone is looking to find their ‘special’ place to mingle andcelebrate with friends, family and colleagues,” says Michael Cash, Managing Director at CityView. “Coming up with themed evenings has become the main reason for choice, versus the typical sit down dinner and dancing. Doing something tastefully different and unique is key.”

When event venues go the extra mile by hosting massive spectacles on the biggest party night of the year, they stand to make a sizable profit as well.

According to Venues Today, people who want to head to Xfinity Live!’s New Year’s party can expect to pay $79 for a general admission ticket and as much as $5,000 for a more exclusive skybox package.

At Nashville’s Bridgestone Arena, which is hosting a live DJ set from music producer Bassnectar, general admission tickets for the New Year’s bash will start at $60.50. If guests want the VIP upgrade, they can tack on an extra $199 to their ticket price.

With guests coming out in droves to ring in the new year with the exclusive entertainment, food and drinks that only these large event venues can offer, the venues themselves will have no shortage of people lining up to buy a ticket to get in. For event venues, New Year’s Eve can be the most lucrative night of the year.

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