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They brought over a bunch of their roster including Caribou, Courtney Barnett, Bob Moses, Mura Masa, Yaeji, Jungle, Tycho, Cuco, Alvvays, Sudan Archives, Machinedrum, The Marias, etc
Curious as to how they were able to take some of their clients but not all. Gecs, UMO, and Toro y Moi were all Avery’s clients and didn’t carry over.
Julie are the artists bound to their agents or agencies?
Technically the agencies but sometimes artists are loyal to agents. For instance, Zach Iser and Caroline Yim left ICM, they took SZA and Future with them to CAA.
“According to Live Nation’s second-quarter earnings report, the company is hemorrhaging cash at a rate of $185 million per month. Given its current liquidity, this means Live Nation Entertainment (NYSE:LYV) will have no free cash in roughly 10 months. According to the report, Live Nation predicts this free-fall to persist through the end of the year.”
“According to Live Nation’s second-quarter earnings report, the company is hemorrhaging cash at a rate of $185 million per month. Given its current liquidity, this means Live Nation Entertainment (NYSE:LYV) will have no free cash in roughly 10 months. According to the report, Live Nation predicts this free-fall to persist through the end of the year.”
“According to Live Nation’s second-quarter earnings report, the company is hemorrhaging cash at a rate of $185 million per month. Given its current liquidity, this means Live Nation Entertainment (NYSE:LYV) will have no free cash in roughly 10 months. According to the report, Live Nation predicts this free-fall to persist through the end of the year.”
“According to Live Nation’s second-quarter earnings report, the company is hemorrhaging cash at a rate of $185 million per month. Given its current liquidity, this means Live Nation Entertainment (NYSE:LYV) will have no free cash in roughly 10 months. According to the report, Live Nation predicts this free-fall to persist through the end of the year.”
What would this mean for Live Nation fests?
Probably gonna cut the stuff that makes least amount of money.
I would guess GovBall is the biggest-sized festival in danger. But LN is still pretty huge and I would think that is further down the list than their smaller festivals.
obviously all just speculation but what would do you think the biggest LN fest that could be in danger is? maybe Gov Ball?
Okeechobee, III Points, Gov Ball, all the random Insomniac festivals.
They’ll probably keep EDC, Rolling Loud, Bonnaroo, and Electric Forest
is Gov Ball really not a very profitable fest? seems like a cheap talent budget, NYC sponsorship market, and tickets arent cheap considering how much smaller the lineup is than a lot of the major fests.
Okeechobee, III Points, Gov Ball, all the random Insomniac festivals.
They’ll probably keep EDC, Rolling Loud, Bonnaroo, and Electric Forest
is Gov Ball really not a very profitable fest? seems like a cheap talent budget, NYC sponsorship market, and tickets arent cheap considering how much smaller the lineup is than a lot of the major fests.
is Gov Ball really not a very profitable fest? seems like a cheap talent budget, NYC sponsorship market, and tickets arent cheap considering how much smaller the lineup is than a lot of the major fests.
They've had a ton of cancellations.
thats not something that you would project towards the future unless the belief is that with the current global climate you cant expect three good weather days in NYC going forward.
thats not something that you would project towards the future unless the belief is that with the current global climate you cant expect three good weather days in NYC going forward.
Idk New York weather but the fact that it has happened so many times leads me to believe it’s a high risk. I agree there is necessary context but I imagine a high level look at their books may not paint the best picture for GovBall.
Post by Delicious Meatball Sub on Sept 2, 2020 14:32:08 GMT -5
I’m not sure a dormant Gov Ball is really costing LN that much money. I’m pretty sure the Founder’s guys are their own entity and LN is a partner. Maybe it doesn’t come back year 1, but I doubt they cut it.
I imagine it would be a lot less risky for LN to have Gov Ball take 2021 off and book artists that would normally play the fest in venues in the city. Especially considering we really have no idea what next year is going to be like.
They brought over a bunch of their roster including Caribou, Courtney Barnett, Bob Moses, Mura Masa, Yaeji, Jungle, Tycho, Cuco, Alvvays, Sudan Archives, Machinedrum, The Marias, etc
They brought over a bunch of their roster including Caribou, Courtney Barnett, Bob Moses, Mura Masa, Yaeji, Jungle, Tycho, Cuco, Alvvays, Sudan Archives, Machinedrum, The Marias, etc
It’s a pretty big move in the industry.
Is this basically Windish 2.0?
Paradigm was Windish 2.0. This is Windish 3.0 I guess
I’m not sure a dormant Gov Ball is really costing LN that much money. I’m pretty sure the Founder’s guys are their own entity and LN is a partner. Maybe it doesn’t come back year 1, but I doubt they cut it.
I also think getting rid of the festival that banker's kids go to would show too much desperation to wall street.
“According to Live Nation’s second-quarter earnings report, the company is hemorrhaging cash at a rate of $185 million per month. Given its current liquidity, this means Live Nation Entertainment (NYSE:LYV) will have no free cash in roughly 10 months. According to the report, Live Nation predicts this free-fall to persist through the end of the year.”
This is probably a stupid question, but how does a dormant industry lose that much money that often?
I imagine there's probably the initial losses for canceled shows and refunding tickets. And property taxes on venues they own. But what comprises of sustained $100m losses every month?
“According to Live Nation’s second-quarter earnings report, the company is hemorrhaging cash at a rate of $185 million per month. Given its current liquidity, this means Live Nation Entertainment (NYSE:LYV) will have no free cash in roughly 10 months. According to the report, Live Nation predicts this free-fall to persist through the end of the year.”
This is probably a stupid question, but how does a dormant industry lose that much money that often?
I imagine there's probably the initial losses for canceled shows and refunding tickets. And property taxes on venues they own. But what comprises of sustained $100m losses every month?
Debt. Live Nation spent a lot in the last decade acquiring festivals and venues. There’s no cash flow right now to pay for that debt.
Good thread. Though I feel lots of discussion in the festival forum relates to the biz quite a bit.
I haven’t been on here much this year. It’s just been too hard for me. But I’ve been really working hard (in my tiny corner) to help advocate for legislation providing financial relief to this industry that has given me so much.
I made a thread about the Save Our Stages movement last month. Have you guys been on that? I know at least a couple of you are. On Tuesday there was a national “red alert” for the live events industry.
I mean, I was worrying about this in February before the pandemic officially hit. Now it’s kind of real. So can y’all join me in making a bunch of noise? I’ll try to check back here more often.
Good thread. Though I feel lots of discussion in the festival forum relates to the biz quite a bit.
I haven’t been on here much this year. It’s just been too hard for me. But I’ve been really working hard (in my tiny corner) to help advocate for legislation providing financial relief to this industry that has given me so much.
I made a thread about the Save Our Stages movement last month. Have you guys been on that? I know at least a couple of you are. On Tuesday there was a national “red alert” for the live events industry.
I mean, I was worrying about this in February before the pandemic officially hit. Now it’s kind of real. So can y’all join me in making a bunch of noise? I’ll try to check back here more often.
Exit/In made this announcement earlier this week. It's a start. #SaveOurStages
"We are happy to announce that the Nashville Metro Council just passed legislation allocating $2m in grants to our INDEPENDENT MUSIC VENUES!"
The Ryman has opened back up with 125 people in the audience and live streaming. I'm going to try to get a ticket OCMS but obviously it's going to be difficult with 125 seats.
Anyway, didn't want to hijack the thread, but without these small music venues, there is no music biz.