The Music Business @ An All Time Low!

Its no secret that events company giant, Live Nation, has being overpaying artist for years to rid of the competition. Because of that, it’s the promoters who have been losing money. The artist never cared before, but now they should. Know why? Because the free ride is over.

Because of disappointing ticket sales, Live Nation canceled 200 CAA artist shows. The truth is, the audience no longer cares to see these sort of concerts, because fans have already seen most of their favorite bands perform and they’re quite fed up of paying too much money for a show that they’ve already seen.

“Labels used to support clubs. But they know longer can afford to, and there is no incentive for club promoters to lose money, because they know when the act grows, it’ll will just go to Live Nation or AEG,” said industry expert Bob Letsetz. “Looks like Live Nation is crying uncle. And can you sue Live Nation for breach of contract when most of your business is done with the behemoth.”

Managers and artists will soon be forced to recognize the fact that the free ride has come to a dead end. That’s why acts like Lady Gaga and Bon Jovi are selling their concert tickets for half of their original price. So, if mainstream acts are feeling the pain in their pocket books, I must wonder how most of today’s R & B and yesterday’s Hip/Hop acts are going to survive.

Maybe that’s why Maxwell, Jill Scott and Erikah Badu have to team up to tour (even though it’s hard to make such collaborations work, because these entertainers have big ego’s.. That’s why Maxwell canceled the second half of the tour).

Artist will have to work harder for their money, and will ultimately take pay cuts. Know why? Because promoters are tired of losing cash. If you don’t believe me, ask Los Angeles promoter Sean Healy.