Billboard explains why low attendance most affects venues, even when tickets are selling well.
More than any other sector of the touring industry, venues bear the brunt of high no-show rates because of how they make money from concerts. Artists and promoters generate the bulk of their income before the performance from advance ticket sales. After production costs are deducted, the artist and promoter split the ticket revenue; the artist typically receives 85%, and the promoter gets the remaining 15%.
Venues like Crystal Ballroom in Portland, Ore., or the nearby Edgefield, both owned and operated by restaurant, pub and venue company McMenamins, are averaging 30% no-show rates during the current pandemic surge, says the company’s musical director,. That’s equivalent to a 42% drop in revenue for his venues, but only a 2.1% drop for artists
Trying to create certainty around attendance will become increasingly important as inflation rises, Presley said during her testimony, noting that the costs of goods and services at her venue have increased in the last year, while hiring has been more difficult in the current environment.
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