Bob Lefsetz reported that Livenation, after over paying for everything in an attempt to build a monopoly, with 360 degree contracts to major labels, owning the merchandizing, the rooms, the sale of tickets, are on the verge of insolvency.
In order to pay for their over spending, they tried raising tix prices up the ying yang and lost the core concert goer. Lefsetz said people got out of the habit of going to concerts.
Now they have just unilaterally cancelled AT LEAST 200 poor selling concerts.
Whither the music biz now?