While stories about megastar artists like Kendrick Lamar and Beyoncé quickly selling out stadium tours have dominated the headlines this summer, this focus on acts performing at the highest rungs of the concert business has created a somewhat distorted view of the live music space. The reality is that only a few dozen artists at any one time are capable of selling more than 100,000 tickets, while most established live artists sell on average between 4,000 to 8,000 tickets per show.

That’s led to a reset in terms of how the concert business views new venue construction. From the 4,500-capacity Pinnacle in Nashville to the 4,000-seat Wylie venue in Pittsburgh, Pa., Live Nation and AEG are currently building roughly 25 mid-sized venues in North America — effectively growing their portfolios

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