RALEIGH, NC (CelebrityAccess) – The Ritz, a popular live music venue in Raleigh, has been bought by Live Nation Worldwide.
The music industry goliath has been managing the venue for several years and purchased it early in December for a reported $7 million. The building, located at 2820 Industrial Drive, is near several new developments.
With a capacity of 2,000, The Ritz has hosted musicians such as Cory Wong, August Burns Red, Russell Dickerson, Nick Cannon, Sabrina Carpenter, and many others. In addition, the venue will host Marcus King on 12/31 as he rings in the New Year. The venue began in the 1970s as a disco, opening as the Disco Rodeo and later becoming a temporary place for Latin entertainment.
The Ritz stated, “We are proud to contribute to the vibrant music scene in Raleigh. We will continue to operate this venue and provide an amazing experience for artists and fans at the Ritz for years to come.”
Live Nation (LN) took over management of The Ritz in 2014 and renovated the space for $1 million. The BizJournal reports the upgrades included a new HVAC system, new restrooms, an added patio area for smokers and new sound equipment.
The acoustic quality of The Ritz has long been in question by the fans and locals who attend shows there. On a Reddit string discussing the sale to LN, koskadelli said, “all hard surfaces and metal – you couldn’t pay a sound designer to make it worse than it already is.” Yourbasement posted, “Great. The monopoly only grows stronger,” and wireless200 commented, “Means only ticket prices and fees will increase.”
LN did not respond to CelebrityAccess’ request for comment regarding plans for any future acoustic upgrades or renovations.
The Ritz was the first venue in the Triangle to be taken over by LN. They also have booking agreements with Red Hat Amphitheater and Walnut Creek Amphitheatre.
The BizJournal reports a new live music venue is planned for Kane Realty’s Downtown South development in Raleigh. AEG Presents will operate the 3,500-capacity live music venue set to open in September 2024.