Beyoncé wrapped up her Renaissance Tour in September 2023, which earned $579.8 million in revenue. Now, Queen Bey is looking to take up residency in Las Vegas. Her team had been in negotiations with The Sphere, but those recently fell apart.
Now, the artist is reportedly in talks with MGM Grand for a massive 100-date deal. Based on the financial impact that her Renaissance Tour had on the US economy, this could be one of the most lucrative residency deals in MGM history.
Key Highlights
- Negotiation with The Sphere broke down over rehearsal demands.
- Beyoncé is reportedly in talks with MGM Grand for a 100-date residency.
- A Queen Bey residency has the potential to set an all-time record.
Sphere Talks Fall Apart Due to Rehearsal Times
Initially, Beyoncé was in talks with Sphere in Las Vegas to perform a residency. Still, talks broke down over demands from the singer and her team. Firstly, the team wanted $10 million to produce the show. However, negotiations fell apart when the singer demanded that the Sphere go dark for 14 days while she rehearsed.
This last demand proved too much, as the 20,000-seat arena could not afford the substantial revenue hit.
For example, the NY Post reported that tickets for the film Postcard from Earth –specially created to screen at Sphere– start at $104. At that rate, Sphere would be looking at more than $29 million in potential lost revenue over 14 days.
The Sphere would not comment on negotiations, claiming they only comment on acts booked at the venue.
Sphere would be looking at more than $29 million in potential lost revenue over 14 days.
Beyoncé Allegedly in Talks With MGM Grand for 100-Date Residency
Queen Bey took only a short time to find a new potential residency home. Numerous sources report that the MGM Grand wants to snag the superstar to a 100-date residency.
Mrs. Carter wrapped up her Renaissance tour in September 2023, becoming the highest-grossing tour for a female singer in history.
Her latest album release, Cowboy Carter, recently went Platinum, and you can’t go 5 minutes on social media without running across a dance rendition to Texas Hold’em.
It is still being determined what MGM Grand will pay the 42-year-old phenom. Still, $10 million would be one of the heftiest residency salaries in history.
Beyoncé’s Las Vegas Leg of the Renaissance World Tour
Photographs © Beyoncé
Beyoncé Could Set an All-Time Residency Record in Vegas
Look at a September Instagram post from The New York Times1 to get an idea of how massive this deal could be for the MGM Grand. According to the post, the Renaissance World Tour generated approximately $4.5 billion for the American economy.
If she fulfills a 100-date schedule, she could eclipse Celine Dion for the highest-grossing residency ever.
Dion has the #1 and #2 spots for all-time residency earnings. She earned $385.1 million for her A New Day residency and $296.2 million for her Celine residency.2
Garth Brooks extended his Vegas residency last year and had earned over $230 million as of August 2023.
100 Chances to Book a Beyoncé Concert
To put her earning potential in perspective, Beyoncé earned $579 million on her Renaissance Tour, which included 56 shows. If her concerts made up one-third of her Renaissance tour dates, she could pull in roughly $400 million. However, with her recent successful tour and continued popularity, there is potential for the concerts to earn a lot more.
A Vegas residency would give fans up to 100 chances to book a concert, which was tough to do on her Renaissance tour. It will also boost the revenues of MGM Grand and Vegas in general.
Booking a generational talent like Beyoncé would be a massive acquisition for any casino. If the MGM Grand doesn’t step up, you can rest assured one of the other venues will try to step up.
Resources
https://nypost.com/2024/07/11/business/beyonce-sphere-end-residency-talks-but-singer-could-land-at-this-sin-city-venue-sources/
https://www.forbes.com/sites/anafaguy/2023/10/03/beyoncs-renaissance-tour-brings-in-half-billion-dollars-but-these-singers-made-even-more
1 https://www.instagram.com/nytimes/p/Cx3uw3BOdXO?img_index=1
2 https://en.wikipedia.org/wiki/Celine_(concert_residency)
