When it comes to arenas, size does matter. Well, it matters to the folks at "Venue Today."

The entertainment and sports magazine released its ranking of the world's largest arenas earlier this month. Nominees were venues with 15,000 to 30,000 seats and were ranked based on the number of events at each space, as well as the overall sales from the box offices.

While North America took seven out of the 10 spots, it was London's O2 Arena that took first place, thanks to the stadium playing host to the 2012 Summer Olympics and Paralympics. Some of 2012's biggest musical performances also made stops at the arena, including Kanye West and Jay-Z's "Watch The Throne" tour, Guns N' Roses' "Up Close And Personal" tour and British Rockers, Muse's "2nd Law" tour.

Across the pond, Canada's largest arena belonged to the Bell Centre in Montreal, while Los Angeles' Staples Centre was the United States' largest venue, taking third and second place respectively on Venue Today's list.

For a full list of the cities with the world's 10 largest arenas, check out the gallery below.

The World's Biggest Arenas. Slideshow text follows for mobile readers.

Loading Slideshow...
  • 10th Place: HP Pavilion In San Jose, United States

    The California arena seats 17,562 and is home to the San Jose Sharks, one of California's three NHL teams.

  • 9th Place: O2 World In Berlin, Germany

    This sports and concert arena can hold up to 17,000 patrons and has played host to Lady Gaga, Jennifer Lopez and Pearl Jam this year.

  • 8th Place: The Verison Centre In Washington, United States

    Located in the District of Columbia, the Verizon Centre is home base to the NHL's Washington Capitals and the NBA's Washington Wizards. Photo: <a href="http://www.flickr.com/photos/ncindc/">NCinDC</a>

  • 7th Place: Wells Fargo Centre In Philadelphia, United States

    The City of Brotherly Love is also home to the arena for the Philadelphia Flyers and 76ers, the city's hockey and basketball teams. Photo Credit: <a href="http://www.flickr.com/photos/shinyasuzuki/">Shinya</a>

  • 6th Place: Madison Square Garden In New York City, United States

    In addition to being a world-renowned stop for musicians, this New York establishment is home to the NBA's New York Knicks and the NHL's New York Rangers.

  • 5th Place: Air Canada Centre In Toronto, Canada

    Toronto's massive entertainment complex holds some of the city's largest concerts and is home to the Toronto Maple Leafs, the Toronto Raptors and the city's lacrosse team: the Toronto Rock.

  • 4th Place: All Phones Arena In Sydney, Australia

    Formerly known as Acer Arena, this venue underwent a name change in 2011 after Allphones bought it. The building also played host to various Olympic events during the 2000 Summer Games.

  • 3rd Place: The Bell Centre In Montreal, Canada

    Canada's largest arena can be found in the province of Quebec and is home to Montreal's hockey team, the Canadiens. Though due to the NHL lockout, it's now mostly used as a concert venue.

  • 2nd Place: Staples Center In Los Angeles, United States

    It's America's largest sporting and entertainment arena for a good reason. This building hosts home games for three teams: The NBA's L.A. Lakers, L.A. Clippers and the NHL's L.A. Kings. When it's not filled with sports fans, it also holds concerts from the likes of Justin Bieber, Mariah Carey and Beyoncé. Photo Credit: <a href="http://www.flickr.com/photos/davidcjones/">David Jones</a>

  • 1st Place: O2 Arena In London, U.K.

    Topping the list with a whopping 20,000 person capacity is England's O2 Arena. It's a popular stop for musicians and local U.K. artists, like Paul McCartney and Elton John. Earlier this year, it was used to host the 2012 Summer Olympic opening ceremonies. Photo Credit: <a href="http://www.flickr.com/photos/simononly/">simononly</a>

10th Place: HP Pavilion In San Jose, United States
The California arena seats 17,562 and is home to the San Jose Sharks, one of California's three NHL teams.

9th Place: O2 World In Berlin, Germany
This sports and concert arena can hold up to 17,000 patrons and has played host to Lady Gaga, Jennifer Lopez and Pearl Jam this year.

8th Place: The Verison Centre In Washington, United States
Located in the District of Columbia, the Verizon Centre is home base to the NHL's Washington Capitals and the NBA's Washington Wizards.

7th Place: Wells Fargo Centre In Philadelphia, United States
The City of Brotherly Love is also home to the arena for the Philadelphia Flyers and 76ers, the city's hockey and basketball teams.

6th Place: Madison Square Garden In New York City, United States
In addition to being a world-renowned stop for musicians, this New York establishment is home to the NBA's New York Knicks and the NHL's New York Rangers.

5th Place: Air Canada Centre In Toronto, Canada
Toronto's massive entertainment complex holds some of the city's largest concerts and is home to the Toronto Maple Leafs, the Toronto Raptors and the city's lacrosse team: the Toronto Rock.

4th Place: All Phones Arena In Sydney, Australia
Formerly known as Acer Arena, this venue underwent a name change in 2011 after Allphones bought it. The building also played host to various Olympic events during the 2000 Summer Games.

3rd Place: The Bell Centre In Montreal, Canada
Canada's largest arena can be found in the province of Quebec and is home to Montreal's hockey team, the Canadiens. Though due to the NHL lockout, it's now mostly used as a concert venue.

2nd Place: Staples Center In Los Angeles, United States
It's America's largest sporting and entertainment arena for a good reason. This building hosts home games for three teams: The NBA's L.A. Lakers, L.A. Clippers and the NHL's L.A. Kings. When it's not filled with sports fans, it also holds concerts from the likes of Justin Bieber, Mariah Carey and Beyoncé.

1st Place: O2 Arena In London, U.K.
Topping the list with a whopping 20,000 person capacity is England's O2 Arena. It's a popular stop for musicians and local U.K. artists, like Paul McCartney and Elton John. Earlier this year, it was used to host the 2012 Summer Olympic opening ceremonies.

Related on HuffPost: