Virgin Media O2 and venue owner AEG have extended the naming partnership for London’s The O2 through 2038, but neither side disclosed the value of the deal.
The extension keeps the O2 name on one of Britain’s longest-running corporate venue partnerships. The complex took the name in 2007, when AEG reopened the former Millennium Dome as an entertainment destination.
Reports have put the renewed deal at about £200 million, or roughly £20 million a year. A source close to Virgin Media O2 told City AM that figure was “purely speculation.” The company said the partnership continues to deliver a strong return, but it did not confirm a price.
O2 customers bought 1.7 million tickets through the Priority Tickets programme in 2025, City AM reported. Under the new agreement, customers will have access to 50% more tickets for arena shows and to presales at the smaller Indigo at The O2 venue for the first time.
The extension comes as the telecoms group faces financial pressure. Its owners, Liberty Global and Telefónica, have reportedly targeted about £600 million in cost savings while addressing investor concerns over debt of roughly £22 billion. O2 lost more than 100,000 bill-paying customers last year after a backlash over price rises.
The O2 sold more than 2 million tickets and hosted 239 shows last year. Venue revenue rose 14% to £148.6 million and pre-tax profit increased 18% to £76.5 million. AEG later paid a £27.5 million dividend to its US parent. Those figures underscore the venue’s commercial value, while the official price of the new sponsorship remains undisclosed.