A Live Nation memo obtained by Rolling Stone has revealed the event giant will be making some significant changes to their agreements with artists in 2021.
The biggest change comes with decreasing all artist guarantees, meaning guaranteed payment from a concert, by 20% of their 2020 prices. On top of that, if a show is canceled due to poor ticket sales, an artist will only receive 25% of their guarantee. The current policy is for a promoter to payout 100% of an artist’s guarantee.
The Live Nation memo can be read in its entirety at RollingStone.com.