Business Daily
The trouble with live music
May 6, 2024
Legendary musicians Elton John, Beyonce, Taylor Swift, and Ed Sheeran discuss the contrast between their sell-out stadium tours and the struggles of smaller music venues. The podcast explores the challenges faced by grassroots venues in the UK and Australia, as well as the future potential of India's live music scene. Insights are shared on the impact of technology, government support, and tax reforms on the evolving live music industry.
17:40
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Quick takeaways
- Smaller grassroots music venues face economic pressures and rising costs, impacting their profitability and sustainability.
- Closure of small venues threatens diversity and creativity in the music industry, requiring support from major labels, streaming platforms, and government interventions.
Deep dives
Contrast Between Sell-Out Stadium Tours and Struggling Grassroots Venues
Huge global tours like Taylor Swift's and Harry Styles' are grossing millions of dollars, while smaller grassroots music venues are facing closure due to financial and social challenges. Nathan Clark from Brudenell Social Club in the UK highlights the economic pressures and rising costs these venues face, impacting their profitability and sustainability.
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