Co-op Live has delivered a staggering £785.5M boost to the UK economy (measured by GVA), with a total turnover of £1.3 billion since breaking ground in 2021.
In its first year of operations alone, Co-op Live has achieved £852.2M in turnover and £455.5M in GVA which is expected to increase in future years as the number of events grows annually, according to a new independent economic impact report by leading planning consultancy Lichfields.
The new economic analysis reveals that since construction began, Co-op Live – developed by Oak View Group in partnership with City Football Group and Harry Styles – has generated over £1.3 billion in total turnover, contributed by visitors in and around the venue, Co-op Live venue operations, and the wider effect of this economic activity.
This figure includes £450 million investment during the construction phase and £852.2 million in total turnover during the arena’s first year of operation.
The report also highlights that Co-op Live contributed £330 million in Gross Value Added (GVA) during its construction – a measure that reflects the additional value added to the economy. A further £455 million in GVA was added in the arena’s first year of operation, including 105 events and 1.5 million fans, bringing the total GVA contribution to the UK economy to £785.5 million to date.
At a regional level, since building began, Co-op Live has contributed 39% or £313.4M of total GVA generated to the Manchester economy in visitor spending across Manchester’s hotels, restaurants, pubs, and bars.
The world-class arena has quickly established itself as a premier destination for live music, attracting major international artists and delivering 12 UK-exclusive shows from global icons such as the Eagles, Pearl Jam, and Paul McCartney. With 150 events forecasted annually over the next decade, the venue is cementing Manchester’s status as a global entertainment hub.
Beyond its economic and cultural value, Co-op Live is committed to delivering lasting social impact. Each year, it donates at least £1 million to its naming rights partner’s charity, the Co-op Foundation, to support initiatives like the Young Gamechangers Fund, which awards grants of up to £20k directly to young people aged 10-25 leading positive change in their communities. Additionally, the venue has provided 6,000 free tickets to local community groups and Co-op Academy school pupils, making world-class live entertainment more accessible to local residents.
Tim Leiweke, OVG CEO, commented: “I’ve seen new arenas spur economic growth in every city we have built in, and Co-op Live has delivered this in spades. We invested heavily in Manchester with our partners to ensure the city has the world’s best music arena, and I’m proud to see the economic benefits of this investment being experienced.”
Bev Craig, Leader of Manchester City Council:
“For decades, Manchester has been celebrated for its musical heritage. With music in its DNA, the city is further bolstered not just by the global reputation of Co-op Live, but its collaborative and supportive approach to Manchester’s full music ecosystem. From linking with local new music venues and artists, to showcasing some of the city’s best new music, it’s rapidly become one of the cornerstones of Manchester’s ongoing legacy.”
