Robert James Ritchie is a singer who was, for a short period of time, married to Pamela Anderson. However, that is not the only reason for his infamy. He started as a rapper, but now is a country rocker. I have never heard his music, but he has attained some level of popularity. Although I have no idea what kind of a person he is, I want to applaud his latest action involving the cost of his concerts.
Music has become big business. Concerts in general have become very expensive helping to make our favorite singers quite wealthy. I want to buy tickets for Prairie Home Companion next month, but they are about $79. Seems pretty steep to me. Kid Rock is attempting to do something about the high cost of attending a concert.
Rock has signed a unique contract with Live Nation Entertainment to cap ticket prices this summer at $20. Instead of charging a huge up front fee, placing the risk on the promoter, Rock has agreed to share ticket prices with Live Nation. Therefore, the success or failure is based on how many people attend the concert. Live Nation has less up front cost, and as a result has agreed to share concession sales. Rock will now get a piece of the shirts and $4 beer that is sold.
This is a new business model for concerts one that took two years to negotiate. However, I think it makes sense. Kid Rock will need to do a good job to get people to attend his concerts, not just show up and get paid.
I really like Kid Rock’s working mentality. He doesn’t want to get something for nothing, he wants to make money, but he wants to earn it. Is the new business model working? “St. Louis is sold out, and they want a second show. We’re doing 28,000 people in Chicago. LA sold out in nine days.” It appears the strategy is working.
Hats off to Kid Rock. I hope all of the rappers, country, and rock musicians take a lesson. Instead of feeling like they deserve expensive ticket venues, maybe they’ll see the value in earning their money by working hard like the rest of us.
And that is my thought for the day!