As the entertainment industry attempts to rebound from the pandemic, Live Nation is demanding that artists take a 20% pay cut and take the burden for canceled shows in 2021.
Rolling Stone released details of Live Nation’s memo to talent agencies which, in addition to the 20% pay cut, will only give artists a 25% instead of 100% guarantee if shows are canceled due to low ticket sales.
While Live Nation has certainly lined up some great concerts, are they asking too much of the artist with the new policies? Live Nation already requires that the artists pay for their own travel; the company takes 30% of merchandise sales, too. Does Live Nation have too much control of the concert market? Can an artist survive without playing in Live Nation venues and shows?