Nick Holmstén’s Next Venture Will Attempt to Reinvent the Superstar Rollout

December 13, 2021

By Micah Singleton – Billboard

Nick Holmstén wants to reinvent the superstar rollout and revitalize Times Square with his new startup.

 

Nick HolmstenWhen Holmstén first sat down with Billboard to unveil his next move in November 2020, he unveiled a “multi-billion-dollar development with a street-facing stage and retail space in Times Square,” in partnership with Fortress Investment Group called TSX Entertainment with plans to open in 2022.

A year later, Spotify’s former global head of music and the architect of its playlist strategy has more to share about his new startup, his vision for the future of music marketing, and one of his biggest goals: “I believe there is a fair to big chance that this will be the place where future New Year’s Eve celebrations will be,” Holmstén says.

Holmstén’s TSX Entertainment is part of the massive TSX Broadway development, a 46-story tower being built in New York’s Times Square with a price tag of $2.8 billion. The 550,000 square foot building will house the 108-year-old Palace Theater upon completion, which is being renovated and will be lifted 30 feet off the ground to make room for more retail space. TSX Broadway will also contain a hotel with over 600 rooms, more than 75,000 square feet of retail space, 30,000 square feet for food and beverage, and a massive 8K high-resolution 18,000 square-foot digital screen that will open to reveal a 4,000 square-feet retractable stage with 180 seats that can emerge in less than two minutes and hang over the street below.

Once completed that stage will be the only permanent stage in Times Square, offering more capacity for fans and less hassle for companies and artists who want to host events in the area.

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