Live Nation Considering Significant Changes to Policy for Potential 2021 Concerts/Festivals, with Artists Taking on More Financial Responsibility

Rock Cellar Magazine StaffCategories:Latest News

Rock Cellar Magazine

Rolling Stone has obtained a new memo from Live Nation that indicates significant changes are in store for 2021, should the resumption of live concerts and music festivals resume in some capacity.

The industry has experienced far-reaching and, possibly, irreparable damage over the past few months due to the COVID-19 pandemic, with all major tours and festivals being postponed or outright cancelled. This was an unprecedented setback for the industry, with many independent music venues in significant fear of not being able to survive through these troubling times.

Looking ahead to 2021, Live Nation — which already discussed implementing new strategies for the year ahead in response to the difficulties — eyes even more changes, some of them shifting more financial responsibilities to the artists.

Via Rolling Stone:

For example, the company wants to decrease the monetary guarantees promised to artists before an event by 20% across the board. Live Nation also says that if a concert is cancelled due to poor ticket sales, it will give artists 25% of the guarantee (as opposed to the 100% that promoters are currently expected to pay). Moreover, if an artist cancels a performance in breach of the agreement, the artist will pay the promoter two times the artist’s fee — a type of penalty that, as Billboard notes, is unheard of in the live music industry.

Rolling Stone has the full memo from Live Nation available at this link, should you be interested in reading more.

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