Barclays Center affiliate Brooklyn Sports & Entertainment has formed an alliance with Long
Island University, in which BS&E will bring entertainment back to the historic Brooklyn Paramount
Theatre.The move will resurrect the 1,500-capacity venue, which opened in 1928, as an active
entertainment venue for the first time in more than half a century, with the BS&E team focusing
on booking emerging talent in a variety of areas, including music, comedy, and boxing. Barclays
Center CEO Brett Yormark tells Billboard that the Paramount represents an opportunity in the
growing BS&E portfolio, and will begin hosting shows as soon as this quarter.
The Paramount deal is the latest move by this increasingly aggressive group, led by Yormark,
which opened the $1 billion, 19,000-capacity Barclays Center in September of 2012 as the home
of the NBA's Brooklyn Nets. By the end of 2013, Barclays Center was the third highest-grossing
arena in the world for concerts and events, reporting $83.5 million to Billboard Boxscore.
Post-honeymoon period, Barclays Center has remained among the busiest arenas in the world,
reporting $60 million in concerts and events for the same period this year. Bruce Ratner is majority
owner of Barclays Center and executive chairman of Forest City Ratner Companies, one of the
partners that won the bid to redevelop the Nassau Coliseum, a $250 million project that will begin
when the NHL's Islanders leave Nassau for Brooklyn following the current hockey season.
The Brooklyn Paramount has a strong live music pedigree. Originally built as a movie palace, the
venue was the site of renowned jazz shows of the 1930s and '40s, hosting such artists as Dizzy
Gillespie, Duke Ellington, Frank Sinatra, and Ella Fitzgerald. Pioneering DJ Alan Freed, and later
TV personality Clay Cole, staged a number of rock 'n roll shows there, including Buddy Holly,
Chuck Berry, Bobby Vinton, Brenda Lee, and Jackie Wilson. LIU purchased the facility in 1960
for basketball, which it used until the school opened a new gym in 2005, leaving the Paramount
mostly dark.
Now the Paramount will be resurrected just as Brooklyn continues to heat up as a separate and
distinct concert market from Manhattan. The deal was only signed last week, and Yormark says
the Paramount will be hosting shows "soon." While he declined to confirm capital investment by
BS&E in the Paramount, given the team's recent history it is highly likely that, if the venue is a
hit with fans, agents, and artists, a significant renovation project would be in the works.
As it is, Yormark says the venue is ready to host a show right now, and next month, the theater
will play a role in the NBA All-Star weekend as the host of the debut of the NBA House presented
by BBVA Compass.
Brooklyn is already a competitive music market, beyond a wealth of Manhattan venues vying for
talent and fans. The 3,000-seat Kings Theater will re-open Feb. 3 with Diana Ross after a $94
million renovation; Brooklyn Academy of Music spaces range from 350 to 2,100; Brooklyn Bowl
cap is 600; and Barclays Center has its own theater configuration currently capped at 1,500, but
likely to expand.
LIU has a performing arts program, so the Paramount could also provide opportunities for
developing executive talent, as well, through mentoring and work study programs.
Source: Billboard
Island University, in which BS&E will bring entertainment back to the historic Brooklyn Paramount
Theatre.The move will resurrect the 1,500-capacity venue, which opened in 1928, as an active
entertainment venue for the first time in more than half a century, with the BS&E team focusing
on booking emerging talent in a variety of areas, including music, comedy, and boxing. Barclays
Center CEO Brett Yormark tells Billboard that the Paramount represents an opportunity in the
growing BS&E portfolio, and will begin hosting shows as soon as this quarter.
The Paramount deal is the latest move by this increasingly aggressive group, led by Yormark,
which opened the $1 billion, 19,000-capacity Barclays Center in September of 2012 as the home
of the NBA's Brooklyn Nets. By the end of 2013, Barclays Center was the third highest-grossing
arena in the world for concerts and events, reporting $83.5 million to Billboard Boxscore.
Post-honeymoon period, Barclays Center has remained among the busiest arenas in the world,
reporting $60 million in concerts and events for the same period this year. Bruce Ratner is majority
owner of Barclays Center and executive chairman of Forest City Ratner Companies, one of the
partners that won the bid to redevelop the Nassau Coliseum, a $250 million project that will begin
when the NHL's Islanders leave Nassau for Brooklyn following the current hockey season.
The Brooklyn Paramount has a strong live music pedigree. Originally built as a movie palace, the
venue was the site of renowned jazz shows of the 1930s and '40s, hosting such artists as Dizzy
Gillespie, Duke Ellington, Frank Sinatra, and Ella Fitzgerald. Pioneering DJ Alan Freed, and later
TV personality Clay Cole, staged a number of rock 'n roll shows there, including Buddy Holly,
Chuck Berry, Bobby Vinton, Brenda Lee, and Jackie Wilson. LIU purchased the facility in 1960
for basketball, which it used until the school opened a new gym in 2005, leaving the Paramount
mostly dark.
Now the Paramount will be resurrected just as Brooklyn continues to heat up as a separate and
distinct concert market from Manhattan. The deal was only signed last week, and Yormark says
the Paramount will be hosting shows "soon." While he declined to confirm capital investment by
BS&E in the Paramount, given the team's recent history it is highly likely that, if the venue is a
hit with fans, agents, and artists, a significant renovation project would be in the works.
As it is, Yormark says the venue is ready to host a show right now, and next month, the theater
will play a role in the NBA All-Star weekend as the host of the debut of the NBA House presented
by BBVA Compass.
Brooklyn is already a competitive music market, beyond a wealth of Manhattan venues vying for
talent and fans. The 3,000-seat Kings Theater will re-open Feb. 3 with Diana Ross after a $94
million renovation; Brooklyn Academy of Music spaces range from 350 to 2,100; Brooklyn Bowl
cap is 600; and Barclays Center has its own theater configuration currently capped at 1,500, but
likely to expand.
LIU has a performing arts program, so the Paramount could also provide opportunities for
developing executive talent, as well, through mentoring and work study programs.
Source: Billboard