Live Nation Acquires The Paramount: A New Era for Huntington’s Entertainment Hub
In a significant development for the live entertainment scene on Long Island, Live Nation, a leading global live entertainment company, has officially acquired The Paramount, the beloved entertainment venue located on New York Avenue in Huntington. While the terms of the deal have not been disclosed, the acquisition marks a pivotal moment for both the venue and the community it serves.
A Venue with a Rich Legacy
Since its opening in 2011, The Paramount has become a cornerstone of the arts and entertainment landscape in Huntington. The venue has hosted an impressive array of music and comedy acts, including iconic performances by Billy Joel, Pitbull, UB40, Kevin James, and Sarah Silverman, among others. This diverse lineup has not only attracted local audiences but has also drawn visitors from across the region, solidifying The Paramount’s reputation as a premier destination for live entertainment.
The venue was founded by a group of passionate individuals—Brian Doyle, Dominick Catoggio, Jim Condron, and Stephen Ubertini—who transformed the former Inter-Media Arts Center, a nonprofit theater, into the vibrant space it is today. Their vision and dedication have played a crucial role in establishing The Paramount as a cultural hub in the area.
A Natural Transition
In a statement to The Long Islander, the founders expressed their enthusiasm for the acquisition, stating, “We are thrilled that The Paramount will continue its great legacy with Live Nation now overseeing the venue. Having been our booking partner for 13 years, Live Nation became the natural company to hand the torch to and bring the venue into its future.” This sentiment underscores the longstanding relationship between The Paramount and Live Nation, which has been instrumental in shaping the venue’s programming and success.
Economic Impact on Long Island
The Paramount is not just a venue for entertainment; it plays a vital role in the local economy. According to a 2023 study by the Long Island Arts Alliance, the arts contribute approximately $330 million to the Long Island economy. The Paramount’s diverse programming and events attract thousands of visitors each year, generating revenue for local businesses and fostering a vibrant cultural scene.
More Than Just a Concert Hall
Beyond its impressive lineup of performances, The Paramount offers a unique experience for its patrons. The venue features The Founder’s Room, a members-only speakeasy that provides an exclusive atmosphere for guests. Additionally, Ella’s, an eatery within the venue, serves curated plates, pizzas, and cocktails, enhancing the overall experience for concertgoers. Spotlight, another space within The Paramount, showcases a bar, live music, art, and food, making it a multifaceted destination for entertainment and socializing.
The venue also accommodates private events, further diversifying its offerings and solidifying its status as a community gathering place.
A Bright Future Ahead
With a seating capacity of 1,665, The Paramount has come a long way from its origins as the 600-seat IMAC theater. The acquisition by Live Nation promises to usher in a new era for the venue, with the company committed to maintaining the existing team and continuing the legacy established by its founders.
Lisbeth Barron and her firm, Barron International Group, served as the exclusive financial advisor to The Paramount during this transition. Their expertise in music and entertainment strategic advisory and capital-raising will undoubtedly play a role in shaping the future of the venue.
Conclusion
The acquisition of The Paramount by Live Nation is a momentous occasion for Huntington and the broader Long Island community. As the venue continues to thrive under new management, it is poised to enhance its offerings and further solidify its position as a key player in the live entertainment industry. With a rich history and a promising future, The Paramount remains an integral part of the cultural fabric of Long Island, ensuring that the arts continue to flourish in the region.