Could be the Launch of History in Toronto an indication of Drakes new business Focus?
Drake has launched a Live Performance Entertainment Venue in Toronto Canada named History. His move could be an indication of a shift in his business strategy to explore the Live Entertainment sector as part of his plan to expand his portfolio. The Hip hop artist has partnered with Live nation Canada in the construction of the 2,500 capacity venue to provide an alternative platform for artists to both perform and connect with their fans. Drake made an announcement on the venture on Tuesday, June 8 on Instagram where he shared his inspiration to open such a venue in his hometown. According to him, performers need to connect with their fans during live performances something which is not possible in huge concert venues where the fans are far away from the performing artists. He said the new venue will be much smaller compared to usual high capacity entertainment Arena’s which doesn’t provide the much needed emotional artist/ fans connection and interaction.
From the launch he didn’t make it clear whether this was giving back to his home turf or he had concrete plans to invest and expand his Entertainment Business Empire by opening many similar venues both in the U.S and Canada. According to Economists, Live Performances seems a viable business opportunity and the Artist is likely to be testing the waters in his hometown before expanding into other Cities. If that happens, Drake could provide enormous opportunity to young and upcoming artists with a platform to perform, showcase, horn their skills and also earn from their talents without having to compete with established artists in the mainstream hip hop circles.
The venue is expected to be hosting at least 200 events every year. He shared an emotional press release explaining how he enjoyed performing in smaller venues like History where he could directly interact with his audience and fans. Part of his objective was to rekindle the memories by launching the venue and especially naming it history to represent the font memories.
According to Live Nations C.E.O and President Michael Rapino, partnering with Drake has contributed in the project’s success as construction is expected to end later this year. “History” has been under construction for three years now and is expected to be complete later this summer. The Venue w
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