Live Nation's plan for 2021: Artists to take pay cuts and must pay if they cancel

Live Nation has set up a plan for concert season 2021 that would see artists taking more risk and financial burden, as Billboard reports. Live Nation wants to reduce artist fees by 20 percent from 2020 levels. If a festival is canceled because of poor ticket sales, the giant promoter wants the artist to get 25 percent of the guarantee (now it's a full guarantee). If an artist pulls out of a fest without good reason, Live Nation wants the artist to pay a penalty of double that guarantee (now, artists owe the promoter nothing in that case).