New York City could benefit to the tune of $200 million when the Grammy awards return to the city in 2018, New York City Mayor Bill de Blasio said.

After 15-years, New York will host the awards show at Madison Square Garden for its 60th anniversary on Jan. 28, 2018, de Blasio said in announcing Tuesday that the awards will be returning to the Big Apple after 14 years in Los Angeles.

Madison Square Garden will host the 60th GRAMMY Awards show in 2018.
Madison Square Garden will host the 60th GRAMMY Awards show in 2018. Bloomberg News

“Playing host to the music industry’s marquee awards show is a unique creative, artistic and economic boon to the rich cultural fabric of our city,” de Blasio said.We welcome the Grammy awards back to New York City with open arms and we look forward to continuing to partner with the music industry that supports access and empowerment in the arts.”

The award show was last in New York in 2003. Since 2004, show has been broadcast from the Staples Center in Los Angeles.

“After a year of negotiations, it is extremely gratifying to announce that the Grammys are coming back to New York to celebrate their 60th anniversary,” said Julie Menin, Commissioner of the Mayor’s Office of Media & Entertainment. “The Grammys are not only ‘Music's Biggest Night,’ they generate an estimated $200 million boost to our city's economy.”

Relocating the awards to the city involved bridging a significant cost differential achieved by getting help from host committee members, in-kind advertising, sponsors and cost savings from labor.

"I am very pleased that the Grammy Awards have returned to an Empire State of Mind and are coming back to New York, New York after 15 years away," said City Council Member Dan Garodnick. "Whether you're an Uptown Girl or Broadway Baby, you can't deny that today's announcement -- and the $200 million in expected economic benefit -- is music to the ears."

The city will also host a week’s worth of public events leading up to the Grammy broadcast. The additional visitor spending will add to the $400 million to $500 million in annual revenue spent by tourists on the city’s music-related events.

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