BEATS COULD TAKE A BEATING
Promoters hit by falling dollar
Some Edmonton music festival organizers and concert promoters are keeping a close eye on the tanking Canadian dollar.
Interstellar Rodeo founder Shauna de Cartier says the weak loonie means she’ll have to pay more for American and international acts, who are traditionally paid in U.S. dollars. Her three-day festival is scheduled for July 22 to 24 in Hawrelak Park.
On Thursday, the Canadian dollar closed at US70.03 cents.
“The dollar is having a huge impact on our booking processes,” says de Cartier. “We don’t know what the dollar will be when it comes to paying those artists. It could be even worse than it is now, when we’re putting in our offers. So it’s really stretching my budget. I’m going to have to spend about 30 per cent more than in previous years.”
Boosting her budget, however, could lead to an increase in ticket prices, which de Cartier is loathe to do because of mounting job losses in the face of low oil prices.
“I might have to increase it a little bit, but I don’t want to increase it too much because the economy in Alberta is really suffering,” she says. “I don’t feel our patrons can eat up a 30-per-cent increase in ticket prices. If anything, if possible, I’d like to lower the ticket prices, but I don’t know if I’ll be able to do that.”
Interstellar Rodeo raised its prices by 10 to 15 per cent in 2015, when the Canadian dollar was around 80 cents. (A transferable adult weekend pass cost $225.) Last year, the festival’s U.S. acts included such notables as St. Vincent and Father John Misty, plus up ’n’ comers Shakey Graves and Elle King.
While Canadian acts made up almost 65 per cent of last July’s roster, de Cartier says she might end up booking a couple more this year — particularly developing artists. (Most homegrown acts are paid in Canuck bucks.)
Folk Fest boss Terry Wickham isn’t as worried about the dollar. He says it shouldn’t affect ticket prices — or who he books — for the Aug. 6 to 9 festival in Gallagher Park. (Last year’s adult passes cost $179 and $209, an increase of $10 from 2014.)
So far, he’s confirmed about 50 out of 65 acts. He’ll spend about $1.3 million on artist fees. “We’re not panicked about (the dollar). We’re a not-for-profit (organization), so we don’t have anyone pushing us to make more money,” says Wickham.
“If (the dollar) can hold around 70 cents, I’m hoping we don’t have to raise ticket prices and I don’t think it’s going to affect the quality (of acts). But if it goes down to 61 cents, then all bets are off and then we might have to look at what we’re doing.”
The 70-cent dollar, however, is affecting smaller artists, promoters and venues. The Starlite Room’s talent buyer John Kennedy says fewer U.S. and international punk and metal acts are playing his 500-person room. “Looking at my bookings this year compared to last, I’d say (the number of tours has) been cut by 65 per cent,” he says.
Kennedy prefers to look at the bright side. He thinks this is the perfect time for Canadian bands to hit the road. “They should be saying ‘Hey, we want to keep the music scene alive in our country, let’s start touring’!” he says.
Local promoter Daniel Lenz says a few smaller U.S. acts are willing to get paid in Canadian dollars, but most aren’t. He’s already had to pass on several artists and his indie music festival, Bermuda, plans to go with an all-Canadian lineup. “It doesn’t look like the dollar is getting better any time soon,” he says.