Summer Forecast.

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  • Author(s): Knopper, Steve
  • Source:
    Rolling Stone. 4/21/2005, Issue 972, p24-24. 1/2p. 2 Color Photographs.
  • Additional Information
    • Subject Terms:
      CONCERT tours; SPRINGSTEEN, Bruce, 1949-; MUSIC industry; COLDPLAY (Performer); CLEAR Channel Communications Inc.; CONCERT agents
    • Abstract:
      The article reports that after the disastrous summer of 2004, in which ticket revenue droppedan estimated forty percent, the concert industry has resolved to reinvent itself — with a boost from blockbuster tours by Coldplay, Dave Matthews Band and Bruce Springsteen. Ticket prices rose sharply in the last five years, due in part to promoter Clear Channel Entertainment Inc.'s practice of offering higher and higher upfront payments (known as guarantees) to top artists in an attempt to drive competing promoters out of the market. The big guarantees were passed along to fans in the form of higher ticket prices. This year Clear Channel, the world's largest concert promoter, has asked bands to accept less money upfront in an effort to make tickets cheaper.