New contracts will make artists share financial risk when live events return

Global entertainment company Live Nation is planning changes to its contracts, aiming to transfer some of the risks associated with staging events onto the artists after the Covid-19 shutdown. These include an across-the-board drop in fees and guarantees of around 20% . When shows are cancelled due to poor ticket sales, artists will get 25% of their fee, except under ‘force majeure’, such as a second spike of COVID or changes to physical distancing rules, when the artist would get no fee at all.