General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEagles, Pearl Jam, Guns N' Roses Among Groups Receiving PPP Loans for Postponed Tours
With concert tours almost completely shuttered through the ongoing COVID-19 pandemic since March, some of the biggest acts in music including the Eagles, Pearl Jam, Guns N Roses and Green Day have received federal funding to support their crews for any current and future postponed tours, according to data released Monday by the Small Business Administration and Treasury Department. The financial support is part of the governments recently enacted $2 trillion CARES act intended for relief to small businesses impacted by the coronavirus.
The Eagles, Pearl Jam and Disturbed took out some of the larger loans among the listed touring musicians, being granted somewhere between $350,000 and $1 million, and many of the other artists received between $150,000 and $350,000. Rolling Stone has identified more than 50 musicians and groups across all genres among the 660,000 recipients who were granted a loan for more than $150,000, according to the data, joined by small businesses such as restaurants and bars along with construction and plumbing companies.
Tool, Nickelback, Imagine Dragons, Incubus, Slipknot, My Chemical Romance, Wilco, Weezer, Cheap Trick, Tim McGraw, Chainsmokers, Bon Ivers Justin Vernon, Disturbed, Gary Clark Jr., Papa Roach, Ryan Tedder and the Head and the Heart have all received similar loans of varying amounts. Rappers Wiz Khalifa, French Montana and Lil Jon also received loans alongside country and Americana stars Rascal Flatts, Chris Stapleton, Luke Combs, Kip Moore and Jason Isbell.
On Monday, the U.K. announced a $2 billion bailout for arts-related businesses such as concert venues, but relief for live music has been mixed in the U.S. Since April, the National Independent Venue Association has pushed legislators to give more assistance to venues, which have been completely shut down over social distancing measures with little alternative means of revenue. NIVA, founded in April, started with about 800 participating venues and now has nearly 2,000 venues as members. In May NIVA said 90% of its venues couldnt operate for more than six months without more government assistance. Youll see, in the public, a lot more closings that are happening, NIVA vice president Justin Kantor previously told Rolling Stone. Right now, theres three or four venues a week that Im hearing about, in the nation, that are announcing it publicly. But a lot of [others] are probably in just as bad shape they just havent officially gotten the boot by their landlord.
https://www.rollingstone.com/pro/news/eagles-pearl-jam-guns-n-roses-ppp-loans-1025111/
NightWatcher
(39,343 posts)I'd like to see proof that this money was passed to those for whom it was meant, you know the employees, and not just to help the bottom line of the talent and management.
JI7
(89,262 posts)NightWatcher
(39,343 posts)It's not fair to ask GNR to pay vendors and subcontractors out of their pocket when they could get the assistance from the government.
Beaverhausen
(24,470 posts)Between crappy streaming services and everyone wanting music for free, touring is without question the way most musicians make any money.
underpants
(182,868 posts)theres no evidence that anyone didnt get a loan/grant because they did.
greenjar_01
(6,477 posts)A couple of them had the shirts explicitly for the crews (100% of proceeds, etc.).
Glad they could get PPP as well. It's an obvious business affected by COVID.
Initech
(100,099 posts)I wish we'd do the same here.
marybourg
(12,634 posts)She has been getting salary and health ins. paid this entire time.