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We record through a tornado warning to explore the global crisis facing live music venues, from the Live Nation antitrust lawsuit to the tragic closure of historic jazz clubs. In this episode, we break down the current state of music venues by analyzing the "ladder" of the live music industry. We discuss the recent Department of Justice antitrust ruling against Live Nation and Ticketmaster, before moving down the ladder to look at the devastating squeeze on mid-sized venues—the "missing middle"—and the recent closures of spaces like the Music Hall of Williamsburg, Highline Ballroom, and Stanhope House. Finally, we discuss the small-cap scene and legendary spots like the 55 Bar, Saint Vitus, and the Cotton Club. We also analyze new data on Gen Z's spending and drinking habits, noting a massive shift toward upscale, hybrid "treat yourself" venues and questioning how touring independent bands will survive without the traditional dive bar circuit.
Timestamps:
- 00:00 - Intro: Recording through a tornado warning
- 01:25 - Defining the venue size "ladder" and its impact on musicians
- 03:22 - Large Venues: Madison Square Garden, Terminal 5, and Brooklyn Steel
- 04:39 - The DOJ antitrust lawsuit against Live Nation and Ticketmaster
- 08:08 - The Ticketmaster settlement and what it means for consumers
- 10:26 - Medium Venues: The "missing middle" and soaring tour costs
- 12:48 - Tragic closures: Music Hall of Williamsburg, Highline Ballroom, and The Well
- 16:04 - The end of the Stanhope House in New Jersey
- 17:21 - Small Venues: Dive bars, DIY spaces, and the end of the 55 Bar
- 18:46 - What happened to Saint Vitus Bar and Bowery Electric?
- 22:56 - Jazz Standard and the historic Cotton Club close their doors
- 25:11 - Debunking data on Gen Z drinking and spending habits
- 29:03 - The death of the middle class and the rise of upscale hybrid venues
- 34:25 - Outro: Are festivals like Big Ears the solution for touring bands?
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