NEW YORK (CelebrityAccess) — Music and technology investor Nick Holmsten has partnered with private equity firm Fortress Capital for the launch of a multi-billion dollar investment in New York that’s billed as “a playground for artists.”
Holmsten, who until last year was Spotify’s global head of music, revealed the plans to Billboard. stating that his newly-launched company TSX Entertainment will develop a property with retail facing in New York City’s iconic Times Square.
“This is a vision of Disneyland for music meets Las Vegas,” Holmsten told the publication.
The project, which is slated to open in 2022, will be like an updated take on MTV’s Total Live, which featured artists performing in a window in Midtown Manhattan along with space for fan interaction and merch sales.
A digital rendering of the project appeared to show a large, enclosed performance stage in front of a raised indoor seating area, situated in front of large windows looking out over a Times Square.
Holmsten conceded that the current coronavirus pandemic may present challenges, he told Billboard that he hopes the vaccines will help to contain the spread enough to release pent-up demand from the public for live music events again.
Holmsten declined to provide information about the full scope of Fortress’s investment in the project but told Billboard that he’s already made several key hires for the music side of TSX Entertainment.