Finance distancing
March 04, 2021

New York allows venues to reopen at 33% capacity - which can't work

New York will allow performances venues to reopen starting April 2, with capacity capped at 33%, with social distancing and face coverings required by all attendees. AEG CEO Jay Marciano has said previously to Rolling Stone that this can't work: “We built an industry based upon selling out. It’s important for the experience. The first 50 percent of the tickets pay for expenses like the stagehands and the marketing, the ushers, and the rest and the venue, and the other 50 percent is shared between the artists and the promoter - so, if all you’re going to sell is 50 percent of tickets, nobody’s making any money. Selling 85 percent of tickets is roughly the break-even”. So, what's left is multiplying the ticket price by 3, right?!?