The big shutdown will mean the end for indie promoters and more power for the giant ones

Billboard sees grim future for the indie live music business when concerts start happening again: After the big shutdown, billions of dollars in ticket revenue and artist payments were frozen in accounts controlled by, respectively, Live Nation and AEG, and the four major talent agencies: WME, Creative Artists Agency (CAA), Paradigm and UTA. Everyone else in the business — indie promoters, staging companies and food/merchandise vendors — continued to receive bills but not the money they were counting on to pay them. When concerts do start happening again, the industry behind them will have changed significantly. Venue contracts will be renegotiated to account for months of inactivity, and the brands that sponsor tours and festivals will almost certainly slash their budgets. Most importantly, at least some indie promoters (and promoters that lack the resources of their larger competitors) may shutter, unable to weather the storm or get the credit they need to endure it — leaving their giant rivals with even more power.