Nate Rau

nrau@tennessean.com

The board of directors for Municipal Auditorium has struck a deal with Live Nation to book concerts at the 54-year-old building that once was the city's go-to music venue for the world's most famous artists.

The Rolling Stones, Michael Jackson, Ray Charles and Elvis Presley all played there.

But, Municipal Auditorium, on the corner of Fourth Avenue North and James Robertson Parkway downtown, slipped in prestige after Bridgestone Arena and other venues came online and Metro curbed capital investments at the building.

Outgoing auditorium board member Randy Rayburn said he hopes the deal, finalized by the board of directors on Tuesday, gives a shot of life back into Municipal. Under terms of the three-year deal, Live Nation will pay $1 million to the auditorium's operating fund and Metro will agree to $1.5 million in upgrades. The Metro Council has already approved the planned upgrades, which will include dressing room renovations, a new production room, a new catering area, high-speed internet, new paint to the inside and outside of the building, restroom renovations and concession upgrades.

The two sides will evenly split any net profit over $2 million achieved by Live Nation.

Can Municipal Auditorium regain spotlight?

Rayburn said Live Nation has already booked three concerts, which have not been announced yet, and plans to have about eight concerts there this year. Rayburn was the chief proponent of outsourcing concert bookings. The city solicited bids last year, which Live Nation won, but the two sides still had to negotiate the details.

"With the new agreement today, (Municipal Auditorium's board) is partnering with Live Nation to evolve this iconic 54-year-old event and performance facility into the 21st century as an enhanced entertainment venue economic generator for our citizens and guests, bringing more live music and sales tax growth in Music City," Rayburn said. "Kudos to former Mayor Karl Dean, Mayor Megan Barry, (Convention & Visitors Corp. CEO) Butch Spyridon and Metro Chief Operating Officer Rich Riebeling for their vision and support of this opportunity and investment."

Municipal Auditorium board chairman Blake McDaniel said the building is already seeing the fruits of the Live Nation partnership. Because of the upgrades that have been planned, other promoters have contacted the city about bringing events to Municipal. McDaniel said the deal with Live Nation is a preferred vendor agreement that allows other promoters to still book concerts there.

"I think part of it is when a promoter like Live Nation comes in, I think it legitimizes the facility in a lot of ways," McDaniel said. "I think we’re seeing the results of that."

Live Nation has invested heavily in Nashville's concert industry. The company, which also owns Ticketmaster, partnered with the city to operate Ascend Amphitheater, which opened last year. Live Nation also operates the privately owned Carl Black Chevy Woods Amphitheater at Fontanel. And the company purchased a controlling interest last year in the Bonnaroo Music and Arts Festival.

Rayburn said he viewed Municipal Auditorium as an under-utilized asset that could be the winter months companion to Ascend Amphitheater, which has had strong bookings in its first two years.

Barry called the Live Nation agreement "another important step in Municipal Auditorium’s evolution. With one of the world’s top promoters booking concerts and comedy shows upstairs and the Musicians Hall of Fame and Grammy Museum Gallery bringing in thousands of additional music fans downstairs, Municipal Auditorium is poised to join the ranks of Nashville’s most exciting entertainment venues," she said in a statement. "And with so many local promoters also bringing talented performers to our city, Nashville’s live music scene is ready to soar even higher.”

A Live Nation spokeswoman did not immediately respond to a request for comment.

Reach Nate Rau at 615-259-8094 and on Twitter @tnnaterau.