Lollapalooza expected to do well, despite antitrust investigation
Lollapalooza expected to do well, despite antitrust investigation
TEXT OF STORY
Bill Radke: This summer’s been a bust for a lot of music acts. Revenues are down 12 percent for concert promoter Live Nation — Christina Aguilera cancelled her tour because of slow ticket sales. But one music festival keeps bucking the trend: Lollapalooza. The tour kicks off this Friday in Chicago, and tickets are selling. Marketplace’s Janet Babin looks at why some acts are not singing the recession blues.
Janet Babin: Lollapalooza’s expected to sell out, despite an antitrust investigation into the festival’s promoters. Fans will shell out more than $200 to see dozens of bands, including this one, the Drive By Truckers:
[Sound of the Drive By Truckers]
Paul Resnikoff publishes Digital Music News. He says the recession has made fans more frugal. But they consider Lollapalooza a bargain:
Paul Resnikoff: It’s about more than just music, right, it’s this huge get-together and experience and lots of bands, there’s just a lot there.
And the recession can actually work in a smaller act’s favor. David Lowery fronts the ’90s rock band Cracker, that’s in the midst of its summer tour:
David Lowery: Let me spin this the way a politician would. Our gross is probably about the same as last year. Our net is probably actually a little better.
Lowery says the band increased profits by playing less expensive smaller venues, and corporate sponsored events for a guaranteed fee.
I’m Janet Babin for Marketplace.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
