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NEW YORK - Venu Holding Corporation (NYSE American: VENU), a hospitality and live music venue developer with a market capitalization of $341 million, has announced a strategic partnership with Connect Partnership Group to bolster its corporate sponsorship sales. The alliance aims to drive revenue growth and enhance brand alignments within VENU’s expanding portfolio of entertainment properties. According to InvestingPro analysis, VENU’s stock is currently trading near its 52-week low, with analysts projecting 31% revenue growth for the current year.
VENU’s Chief Marketing Officer, Terri Liebler, with over three decades of experience in the sales industry, will spearhead the initiative. The collaboration is expected to generate significant sponsorship revenue by 2029, tapping into the company’s growing portfolio which includes alliances with brands such as EIGHT Beer, Ford Dealerships, and Kaiser Permanente. InvestingPro data reveals the company is quickly burning through cash, with negative EBITDA of $21.07 million in the last twelve months.
Danielle Shuff, Founder and Co-CEO of Connect Partnership Group, expressed excitement over the partnership, emphasizing the shared vision and expertise between the two entities. Connect Partnership Group specializes in creating meaningful connections between brands and entertainment properties, aiming to meet business objectives for both parties.
VENU’s business model includes seven revenue streams: sponsorships and partnerships, ticket sales, food and beverage services, parking, venue rentals, licensing agreements, and premium hospitality services. The company is known for developing luxury entertainment destinations such as Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, Notes Eatery, and the Ford Amphitheater. New Sunset Amphitheaters in Oklahoma and Texas are part of VENU’s expansion, with capacities ranging from 12,500 to 20,000 guests.
The company has received national recognition from various publications for its innovative approach to live entertainment. Strategic partnerships with industry leaders like AEG Presents and NFL Hall of Famer Troy Aikman have contributed to VENU’s impact on the entertainment landscape.
This press release contains forward-looking statements regarding the partnership’s potential revenue growth and brand alignment opportunities. These statements are based on current estimates and assumptions and are subject to risks and uncertainties. InvestingPro subscribers can access 8 additional key tips about VENU’s financial health, growth prospects, and valuation metrics to make more informed investment decisions.
The information in this article is based on a press release statement from Venu Holding Corporation.
In other recent news, Venu Holding Corporation reported impressive sales figures, with over $11 million generated from its luxury fire pit suites in December, contributing to a total of $77.7 million for 2024. The company is on track to reach its projected sales goal of $200 million by 2025. Venu’s innovative financing options for its Luxe FireSuites™ and Fire Pit Suites have broadened accessibility, allowing more buyers to finance these luxury suites over time. This strategy is part of Venu’s capital-efficient growth plan, which includes expanding its footprint into new high-demand markets such as Broken Arrow, Oklahoma, and McKinney, Texas.
Additionally, Venu Holding Corporation has ended its marketing and consulting agreement with former spokesperson Chad Hennings following his resignation from the board of directors. The termination of this agreement does not involve any material early termination penalties. Venu’s expansion efforts are supported by strategic partnerships with industry leaders like AEG Presents and Troy Aikman. The company is capitalizing on the projected growth of the global live entertainment market, which is expected to reach $79.7 billion by 2030. These developments reflect Venu’s commitment to redefining the live entertainment experience and expanding its reach in the industry.
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