LIVE NATION HAVE JUST CHANGED THE MUSIC INDUSTRY FOREVER: What This Means For You

Today I'm bringing you the news that the global promoter Live Nation announced via a memo to live agents that they would be reducing fees (alongside other stipulations) paid to artists by 20%, with an aim to also renegotiate thousands of shows that are postponed to 2021.

Everyone has been hit this year, but it seems that musicians will be taking the brunt of it with this one, and I'm not worried about massive artists like the Foo Fighters, they'll be just fine! I'm worried about how this looks for up and coming artists like yourselves, where income from festivals helps you stay afloat and enables you to grow.

NOTE: Since recording this video, Live Nation has spoken to a publication and said they are the artist friendly company, and in retrospect, the 20% factor shouldn't have been there. We'll see what comes of this, as in the video I go through the other factors detailed that indicate a substancial shift in risk.

What do you think about this and do you think you're likely to be affected? Hit me up in the comments!

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Hey! I'm Damian Keyes and I've worked with musicians every day of my life for the past 20 years. When I was 18, I was signed to a major label and at 23 I founded the world's largest set of music colleges, currently valued at $100m.

As a bassist, I've played on stage for artists such as Eric Clapton, Alanis Morrisette and Billy Cobham. I also own a management company and live agency, undertaking over 10,000 gigs a year.

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Видео LIVE NATION HAVE JUST CHANGED THE MUSIC INDUSTRY FOREVER: What This Means For You канала Damian Keyes