Concerts in Victoria + region + music industry news
Posted 16 November 2017 - 09:16 AM
These guys and gals put on a tremendous show and is a fundraiser for BC food banks.
I picked up the last six tickets for the salt spring show on Monday.
Posted 16 November 2017 - 09:48 AM
That exchange rate is hitting the festival circuit in Canada pretty hard.
Or at least many promoters of cancelled festivals are using that particular rationale to explain why any given festival was cancelled.
I would posit that festival cancellations lately have had nothing to do with exchange rates, and everything to do with any given promoters willingness to risk their personal finances (for reasons that will never be made public) in order to move a specific festival forward.
Behind this is the fact that there are dozens, if not hundreds of Canadian bands touring during the summer festival season, and Canadian bands don't require an "exchange rate" to be factored into the discussion.
A Canadian band that insists on being paid in American dollars is simply a Canadian band asking for a higher rate of pay for their performance ... it's just semantics.
Exchange rates are not why smaller festivals are being cancelled, despite it being a popular explanation for promoters to offer, and for newspapers to print.
Edited by Cassidy, 16 November 2017 - 09:48 AM.
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Posted 16 November 2017 - 09:52 AM
^ I agree 100%.
I don't doubt though that many costs are up, esp. for paid security and first aid people, and provisions like temporary fencing, portable toilets, and generators. All of those price increases are fuelled by a pretty robust construction and private security industry.
Posted 16 November 2017 - 09:53 AM
^Another big issue is that the event registration companies are now withholding larger portions of the ticket revenue until the event has occurred. They are doing this as they have been burned in recent years by organizers who collect the ticket monies and then cancel the event. An organizer now has to be able to bankroll much more of the costs upfront than they had to in the past.
Posted 16 November 2017 - 10:23 AM
^ Good point.
General unemployment is at very low levels too, might be harder to find volunteers. Of course high employment also means potentially more ticket buyers.
Posted 16 November 2017 - 11:21 AM
A concert/festival promoter usually is required to carry (figuratively) a pretty big bankroll at all times in order to do what it is they do for a living (most mid to upper echelon artists require full payment up front, and if not full payment up front, then full payment the minute they play the first note of their first set).
With ticket sales these days almost exclusively made on credit cards, promoters have to have a huge cash reserve available to pay bills, at least until those credit card purchases are processed, and the funds made available to the promoter.
Any impact on that promoters "cash" bankroll prior to the event immediately exposes the promoter to becoming 100% dependent on immediate access to the funds generated from ticket sales, funds which are not always available in the short time frames many concert promoters require they be available in.
That promoters hesitance to expose themselves to the heightened level of financial risk is enough to cause cancellation of any festival or concert.
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