The O2 arena in London has unveiled a healthy pre-tax profit of £15.6m for its first full year of operations with the venue’s owner claiming it to be the “the world’s most popular music arena”.
AEG, the owner of the arena says the profits follow on from a £9.7m loss in 2007, when it was only open for six months, while revenue doubled to £53m, from £26.8m in 2007.
The US sports and entertainment firm said the O2 sold two million tickets in 2008 and hosted 140 events.
“We’re now looking ahead at an even better 2009 with 175 confirmed events and an enviable autumn calendar,” said David Campbell, chief executive of AEG Europe.
Some of the artists that have played at the O2 include Led Zeppelin and Madonna, while sporting events such as US basketball games have also taken place there.
The arena was scheduled to host Michael Jackson’s comeback concerts this summer but had to offer refunds after the singer’s death in June.