AUSTIN, Texas—Stone Music Entertainment announced Monday it has invested in entertainment centers in Austin and Nashville, Tennessee, to improve its presence in the United States.
Stone Music announced the new investment on its website and in a press release.
The announcement comes just days after the company signed a multiyear lease agreement with the Texas Convention Center to build the Austin Arena.
Stone Music CEO and co-founder Scott Berry said the investment will improve its brand recognition, its live events calendar, and its business operations.
The Austin Center is Stone Music’s second U.S. entertainment center.
The company’s Nashville facility, Stone Music Music Amphitheatre, opened in October.
Stone announced in October it had signed a lease for a second venue in Nashville, called Stone Music Arena.
The Nashville facility is now being developed into a mixed-use entertainment center and will host events for concertgoers, such as rock concerts and music festivals.
The Stone Music Amphitheatres is the largest outdoor amphitheater in the world.
The Stone Music Austin Center will house a concert venue, multiple stages, multiple entertainment areas, and a restaurant.
The center is expected to open in 2019.
The new Stone Music Nashville facility will be the largest in the U.K., with seating for over 2,000 people, the company said in a statement.
The Tennessee facility is the Stone Music entertainment company’s first U.A.E. entertainment complex, with seating of over 2.5 million people, and is expected open in 2021.
Stone Entertainment has been on the upswing in the last two years.
The music company has expanded its lineup of touring acts, announced major partnerships with major movie studios and entertainment companies, and invested in new music venues and festivals around the country.
Stone Entertainment has expanded in the past year, adding a pop-up restaurant in San Francisco and a new Stone Theatre in Nashville.
The company also announced a $100 million investment for a new indoor amphitheatre at its Stone Music Park in San Antonio, Texas, to be opened in 2021 and a $75 million investment to build a new concert venue in Texas.
Stone’s Nashville venue is slated to open later this year.