The rest of us would just have to figure out how to get the limited tickets and get there!
OK, I understand that about Neil. I don't understand the losing money part. How did the Allman Brothers do their residencies at the Beacon Theatre for more than 20 years if that type of arrangement loses money? Billy Joel has been doing once a month shows at Madison Square Garden that continue all through this year.
I'm not being snarky, I just don't understand the finances. Are you saying the production values of a Rush show are pretty pricey and it takes many, many tour dates (not just a week) to pay for the show?
We as fans think the artist is getting the gross amount. On an extended stay that is rarely the case. The artist usually gets a promised amount from the venue in exchange for a certain number of shows. So in this case the Beacon sits 2800, and if the Allmans play 5 nights they may get a set amount of say $500,000. Now that is without a single ticket being sold. Beacon can turn around with Citi and sell 2800x$100 for $280,000 times 5 shows for $1,400,000. This way both win.
It's No difference then telling a band at your bar, we'll pay you $400 for each night + free booze. If the bar is charging a $20 cover and no one shows up, the band still gets paid..if 1000 people show up over 2 days, the bar wins.
Santana and Billy Idol have deals in place for 15 shows a year at House of Blues in Vegas. That place only sits 700. No way they make money without getting a Set dollar amount for each show. The casino wants bodies 'In the building' and they will get it.
Edited by Disembodied Spirit, 31 August 2016 - 12:07 AM.