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How the Music Industry Looks to Survive Without a $26 Billion Live Concert Business

How the Music Industry Looks to Survive Without a $26 Billion Live Concert Business

“You have to look at these artists as small businesses. It’s going to be devastating,” Loeb & Loeb partner and music lawyer Derek Crownover saysMusic attorney Tim Mandelbaum had to be at an Allman Brothers concert at Madison Square Garden on the night of March 10, at the behest of his client, longtime Allman Brothers guitarist Warren Haynes. It was a big deal: The band was celebrating 50 years, but Mandelbaum couldn’t think of anywhere he wanted to be less.It would be the last live concert at the “World’s Most Famous Arena” before the coronavirus pandemic cut the mics and turned the stages...

August 7, 2020
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AMC's Credit Rating Downgraded by S&P With Recovery Unlikely

AMC's Credit Rating Downgraded by S&P With Recovery Unlikely

S&P Global on Thursday downgraded its credit rating for AMC Entertainment to CCC- from B, which takes the company from “Highly speculative” to “Default imminent, with little prospect for recovery.”AMC has been rocked as a result of the novel coronavirus pandemic, which has forced all movie theaters to close and Hollywood studios to either push film releases past the pivotal summer months or take them off the slate for 2020 altogether.“While there is a high degree of uncertainty about the rate of the coronavirus’ spread and when the pandemic will peak, some government authorities estimate...

April 3, 2020
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SAG-AFTRA Kicks Off Contract Negotiations With Hollywood Film and TV Producers

SAG-AFTRA Kicks Off Contract Negotiations With Hollywood Film and TV Producers

SAG-AFTRA and the Alliance of Motion Picture and TV Producers said on Friday that they will start negotiations on Monday for successor agreements to the SAG-AFTRA TV/Theatrical contracts.Because of the ongoing COVID-19 pandemic and state government stay-at-home orders, both sides said that talks will be conducted via video teleconference.SAG-AFTRA President Gabrielle Carteris will chair the union’s negotiating committee and National Executive Director David White will serve as SAG-AFTRA’s chief negotiator. The lead negotiator for the AMPTP will be President Carol Lombardini.The parties also...

April 25, 2020
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