Why Kid Rock is One of Today’s Biggest Innovators in Music
Another interesting article about the world of rock from Forbes:
Country rocker Kid Rock has taken a calculated risk: Tickets to his summer concerts have been capped at $20 each.
Fans rarely get to see a big-name act like this for so little, but, according to The Wall Street Journal, Kid Rock (the stage name of Robert Ritchie) cut a novel deal with promoter Live Nation Entertainment. “Instead of taking a big upfront fee from the promoter, the ‘guarantee’ an act receives even if attendance is poor, he shouldered more risk by sharing ticket sales with Live Nation,” the Journal reported. “In exchange, the promoter agreed to share revenue from food, drinks and parking—house earnings in which entertainers rarely get a stake.”
So far, the approach seems to be paying off. Venues are sold out, and extra shows are even in the works. As Kid Rock told the Journal, “I’ve heard the same story for 15, 20 years: ‘I dragged my husband or my wife to the show, now they’re a huge fan after they saw you play.’ Without a hit record out right now, the best thing I can do is get people in the building and make some fans for the long haul.”