As the coronavirus forces a wave of concert cancellations, independent concert promoters are especially vulnerable to the upheaval
As the coronavirus forces a wave of concert cancellations, one group is especially vulnerable to the upheaval: independent concert promoters who lack the resources and scale of giants Live Nation and AEG.
The past decade has already been difficult for promoters who stayed independent while Live Nation went on an unprecedented growth spree fueled by over 100 acquisitions since 2010. During the same period, its smaller rival, AEG, bought significant stakes in indie powerhouses like The Bowery Presents and Australia’s Frontier Touring, leaving less space in the market for companies that remained indie to grow and thrive.
Indie promoters also worry that major talent agencies could further tighten their contracts in a way that could force their companies -- many of whom are already required to pay the artist’s entire fee before announcing a lineup -- to take on even more risk. “More agencies are adding contracts language that includes reimbursement for the artist’s costs,” including airfare, production elements and even canceled catering, says Estopinal.
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