{"id":20661,"date":"2024-03-18T16:05:28","date_gmt":"2024-03-19T00:05:28","guid":{"rendered":"https:\/\/lefsetz.com\/wordpress\/?p=20661"},"modified":"2024-03-18T16:05:28","modified_gmt":"2024-03-19T00:05:28","slug":"re-ny-times-private-equity-music","status":"publish","type":"post","link":"https:\/\/lefsetz.com\/wordpress\/2024\/03\/18\/re-ny-times-private-equity-music\/","title":{"rendered":"Re-NY Times\/Private Equity\/Music"},"content":{"rendered":"<p>I liked the comparison between 5 guys and ticket fees.<\/p>\n<p>I got a burrito and a bottle of water and paid $28 at the airport the other day. Then there is an add on for a tip shown to you that the cashier flips around for you to sign off on. Now I\u00e2\u20ac\u2122m at $31.<\/p>\n<p>In today\u00e2\u20ac\u2122s economy, you are right, Bob. $57 is a bargain to see a show that is 60 years in the making, that\u00e2\u20ac\u2122s how long Jon Anderson has been singing, give or take.<\/p>\n<p>Bottom line, you are paying $57 and getting a breakdown of how it got there. Why all the heartache?<\/p>\n<p>Concert tickets, like sports tickets, plane tickets &#8211; ALL have fees. Ask Avis or Hilton. You gonna sleep on a bench instead of a hotel over fees?<\/p>\n<p>Buy your ticket, Tom, go to the show, and have a blast. You deserve it if you are paying for it.<\/p>\n<p>See you at our show in Denver. His tickets are selling great, by the way, because it is a great show. You don\u00e2\u20ac\u2122t wanna miss this over fees.<\/p>\n<p>Next time thru, this will be a bargain. That\u00e2\u20ac\u2122s the way it is.<\/p>\n<p>Danny Zelisko<\/p>\n<p>_______________________________________<\/p>\n<p>We&#8217;ve been touring and making records since 1981. These days we &#8220;tour&#8221; one or two weekends a month. 3-4 gigs then go home for two weeks. It might not be the most efficient\u00c2\u00a0way to tour, but if we went out for 3-4 months, we&#8217;d probably end up hating each other. And, it&#8217;s hard to sell tickets for a Tuesday show in\u00c2\u00a0Des Moines. Though we do still love each other, and enjoy playing together, we&#8217;d rather be home with our families\u00c2\u00a0and dogs when we can.<\/p>\n<p>Our agent, Jerry Lima at Mint, basically doesn&#8217;t even look for dates, he takes offers and if we like the money, the venue, town, routing, we take them. We have a $$ number we&#8217;ll accept. Anything less, (unless it&#8217;s Hawaii, Park City, Key West, Brazil etc..) we say no thanks. The guarantee decides what the ticket price is. Most of our shows are $50-$80 a ticket. 300-500 seat venues. Often multiple nights\u00c2\u00a0which we enjoy. We mostly play sit down, dinner clubs (City Winery, Birchmere types) and we sell out most of them, so there&#8217;s usually a small back end. I&#8217;m 67 and though I don&#8217;t go to many concerts\u00c2\u00a0anymore mostly because of the awful 24\/7 tinnitus I suffer from years of being stupid with the stage volume, I&#8217;d prefer sitting down with table service to watch a show. If the band moves me to get up and dance, I do. If there&#8217;s a band I really want to see, I don&#8217;t care what the ticket\u00c2\u00a0price is. I&#8217;m happy to pay for it. After all, as a musician, it&#8217;s a tax deduction.<\/p>\n<p>Love your letters. I used them when\u00c2\u00a0I taught the business of music at our community college.<\/p>\n<p>10,000 Thanks.<\/p>\n<p>Steven Gustafson<\/p>\n<p>Founding Member\/Bassist<\/p>\n<p>10.000 Maniacs<\/p>\n<p>www.maniacs.com<\/p>\n<p>_______________________________________<\/p>\n<p>This article is ridiculous. Focusing on catalog sales and streaming payments somehow affects the entire music industry? I\u00e2\u20ac\u2122ve lived long enough to know that, for me, any performers worth listening to get it done on the road.<\/p>\n<p>Case in point: Billy Strings. Not a household name, but has a very passionate fan base and enough attendees to his shows that he plays multiple nights in some markets.<\/p>\n<p>I could cite more examples, but I\u00e2\u20ac\u2122m not the one writing a piece for the NYT.<\/p>\n<p>Regards,<br \/>\nChris Adams<\/p>\n<p>_______________________________________<\/p>\n<p>From the NY Times article: \u00e2\u20ac\u0153Private equity firms have poured billions of dollars into music, believing it to be a source of growing and reliable income.\u00e2\u20ac\u009d<\/p>\n<p>At first superficial sight, private equity is an easy target for spleen venting. However, the NY Times essayist\u00e2\u20ac\u2122s ire overlooks one key point, namely the source of the funds invested by the PE firms. Sure, PE executives usually co-invest in the companies in which they invest the funds that they have raised from institutional and private investors.<\/p>\n<p>Those institutional investors of course frequently include pension funds. I suggest that many of those wailing and gnashing their teeth about private equity are simultaneously reaping the benefits of PE investments via their pensions.<\/p>\n<p>Best wishes<\/p>\n<p>Nick Shilton<\/p>\n<p>London, UK<\/p>\n<p>_______________________________________<\/p>\n<p>The problem with consumers is, they hate profit.\u00c2\u00a0 They have been conditioned by the media to be pissed off at any entity, especially a large entity, that makes a profit.\u00c2\u00a0 ANY profit.\u00c2\u00a0 They have no problem when a huge corporation loses money, but they just hate to see them have a successful year.\u00c2\u00a0 They don&#8217;t understand that without profit there is no business.\u00c2\u00a0 No innovation, no new locations, no new products, no nothing. No jobs, either. It all relies on profit.\u00c2\u00a0 Why don&#8217;t people understand that?\u00c2\u00a0 BECAUSE THE MEDIA NEVER TELLS THAT PART OF THE STORY.<\/p>\n<p>Mike Blakesley<\/p>\n<p>_______________________________________<\/p>\n<p>We are less educated and more entitled, a population that is either in denial or delusional about where we really stand. Ultimately though, we are afraid to admit the reality that luck plays more a part of our good fortune which stems the tide of what should be an inherently natural altruistic mindset. We&#8217;ll get what we deserve because the concept of deserving is an illusion and the driving force behind the misunderstanding of the reasons behind why things happen.<\/p>\n<p>Marty\u00c2\u00a0W. Winsch<\/p>\n<p>_____________________________________<\/p>\n<p>The uniquely American quality of indefatigable pluck is vanishing.<\/p>\n<p>We are now awash in a sea of victims and cry babies. Our grandparents would be shattered to know that they sacrificed so much, only for these people to devalue all of it.<\/p>\n<p>Facts don\u00e2\u20ac\u2122t matter any more. Only emotions do. Here\u00e2\u20ac\u2122s what they think: \u00e2\u20ac\u0153I feel disappointed, I must\u00e2\u20ac\u2122ve been cheated. Facts be damned! They make no difference in how I feel. I want what I want and I deserve it. Now, who do I see about this injustice!\u00e2\u20ac\u009d<\/p>\n<p>If they weren\u00e2\u20ac\u2122t emotional about it, they\u00e2\u20ac\u2122d have to admit that if, for instance, they wanted to go to a concert, the venues and the ticket services have to get paid as well as the artist. The problem is that in their minds, no matter what, it\u00e2\u20ac\u2122s their right to have whatever they want. Otherwise, it\u00e2\u20ac\u2122s an injustice. And their leaders join them in this puerile behavior.<\/p>\n<p>And that\u00e2\u20ac\u2122s the biggest difference between Democratic politicians and Republicans \u00e2\u20ac\u201d Dems are not making an emotional case. They are not connecting with people. They must wake up NOW and learn how to make an emotional connection to people\u00e2\u20ac\u2122s pain points. It\u00e2\u20ac\u2122s basic marketing for God\u00e2\u20ac\u2122s sake.<\/p>\n<p>Bill Maher had on Ro Khanna, the Democratic California Congressman, who was going on and on with factual information, cogent arguments, reasonable thinking, and solutions to problems, begging politicians to work together. Throughout it all, he was sitting next to Nancy Mace, Republican Congresswoman from South Carolina, who spouted nothing but outrage-driven partisan baloney. When Maher asked her how she, a rape victim, could support a man found civilly guilty of sexual harassment for President, she instead talked about how George Stephanopolous was evil and insensitive to her when he asked her the same question with her daughter backstage. See? Emotional.<\/p>\n<p>If Democrats don\u00e2\u20ac\u2122t start connecting with people emotionally ASAP, Trump and his henchmen will take over and destroy the country. HE\u00e2\u20ac\u2122S SAYING SO! And they love it because they connect with him as a fellow cry baby.<\/p>\n<p>When an American presidential candidate declares his admiration for Putin, Orban, Kim, Jinping, and HITLER, and lets you know he wants to be your dictator and strongman, and you cheer him on?<\/p>\n<p>That\u00e2\u20ac\u2122s an emotional connection.<\/p>\n<p>Paul Gigante<\/p>\n<p>_______________________________________<\/p>\n<p>Is this Tom Newsom even real? $67 to see a band favorite from a good seat and he doesn\u00e2\u20ac\u2122t take it? Smells like some bullsh*t here.<\/p>\n<p>John Parikhal<\/p>\n<p>_______________________________________<\/p>\n<p>OK Bob, you win.<\/p>\n<p>I definitely do not feel hate or disgust for LiveNation. How dare me question the price of a show for an 80 year old guy with a pickup band who I used to admire a lot despite his quirkiness in so many ways. My hate and disgust is now redirected.<\/p>\n<p>I don&#8217;t shop at Five Guys, but \u00c2\u00a0you can get a meal for 2 at Applebees for $25 (Date Night).<\/p>\n<p>https:\/\/www.applebees.com\/en\/specials\/2-for-25<\/p>\n<p>I guess there is no show without fees. Perhaps no show without attendees either. I agree that $35 is cheap. Perhaps $57 plus parking, etc is not quite as cheap. And $114 for a date night is 4.6 Applebees.<\/p>\n<p>Thanks for telling us what&#8217;s really going on. I do enjoy your notes. I am sad indeed that the music industry has basically been taken from the artists by tech companies. But yes, this is the world we live in today.<\/p>\n<p>&#8220;Even Siberia goes through the motions&#8230;.&#8221;<\/p>\n<p>or perhaps even better&#8230;<\/p>\n<p>&#8220;I crucified my hate and held the word within my hand<br \/>\nThere&#8217;s you, the time, the logic, or the reasons we don&#8217;t understand&#8221;<\/p>\n<p>Tom Newsom<\/p>\n<p>(p.s. if I used any more words I&#8217;d probably have to pay a fee!&#8230;.)<\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>I liked the comparison between 5 guys and ticket fees. I got a burrito and a bottle of water and paid $28 at the airport the other day. Then there is an add on for a tip shown to you that the cashier flips around for you to sign off on. Now I\u00e2\u20ac\u2122m at $31. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3,2],"tags":[],"class_list":["post-20661","post","type-post","status-publish","format-standard","hentry","category-live-shows","category-music-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p96vPs-5nf","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/posts\/20661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/comments?post=20661"}],"version-history":[{"count":1,"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/posts\/20661\/revisions"}],"predecessor-version":[{"id":20662,"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/posts\/20661\/revisions\/20662"}],"wp:attachment":[{"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/media?parent=20661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/categories?post=20661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lefsetz.com\/wordpress\/wp-json\/wp\/v2\/tags?post=20661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}