Concerts lift SM property traffic as venue visits surge 52%

SM Prime Holdings Inc. is seeing stronger traffic across its properties as demand for concerts, sporting events, and family shows pushed attendance at its major entertainment venues up 52 percent in the first eight months of the year.

The SM Mall of Asia Arena, SM Seaside Cebu Arena and SMDC Festival Grounds welcomed more than 1 million visitors as of August, up from about 710,000 during the same period last year.

The increase gives SM Prime another source of foot traffic across its broader property portfolio, with eventgoers also gaining access to dining, retail and entertainment establishments surrounding its venues.

The opening of the SM Seaside Cebu Arena in July further expanded the property developer’s live entertainment footprint and contributed to the increase in visitor numbers.

Complete experience

“Our venues provide Filipino audiences with a complete experience before, during, and after a live event,” SM Prime President Jeffrey C. Lim said on Monday.

“With dining, retail, entertainment and other amenities within easy reach, we can extend the experience beyond the event itself while creating more value across our properties,” Lim added.

At the SM MOA Arena, more than 110 shows were staged from January to August, up as much as 20 percent from the same period last year.

Meanwhile, the newly opened SM Seaside Cebu Arena kicked off operations with sold-out concerts by BINI and IV of Spades.

Momentum to continue

SM Prime expects the momentum to continue through the final months of the year as its venues maintain a steady pipeline of local and international acts.