Sunday Times (Sri Lanka)

US musicians get grants over Covid 19 Pandemic

- Guns and Roses

Kanye West’s Yeezy wasn’t the only musician’s business taking a PPP loan (Paycheck Protection Program), according to documents from the Small Business Administra­tion and Treasury Department in the US. Popular bands Guns N’ Roses, the Eagles, Pearl Jam, Green Day and many other touring musicians took out loans as well, reported by ‘Rolling Stone’.

The financial support, which is part of the federal government’s $2 trillion CARES act to assist small businesses impacted by the coronaviru­s, is intended to crews and other support staff for current and future tours. Reps for the above acts did not immediatel­y respond to Variety’s requests for comment.

The Eagles, Pearl Jam and Disturbed received between $350,000 and $1 million, and multiple other artistes received between $150,000 and $350,000. Other acts who received funds include the Chainsmoke­rs, Cheap Trick, the Head and the Heart, Imagine Dragons, Jason Isbell,

Lil Jon, Nickelback, Papa Roach, Pentatonix, Rascal Flatts, Chris Stapleton, Tool, 311, Weezer and Wiz Khalifa. Messina Touring Group, which has promoted many of Taylor Swift’s tours, was also among the recipients.

Independen­t labels and publishers that received loans include Jack White’s Third Man Records, Sub Pop, Stones Throw, J. Cole’s Dreambille, Rostrum, Reckless, ABKCO and others.

The news emphasises how dependent the music industry has become upon touring, and how financiall­y exposed many artists are without it. While streaming is often cited as the saviour of the music business — which lost half of its value as CD sales plummeted due to illegal downloadin­g in the early 2000s — it was actually the concert industry that brought it back to health, spawning multiple ninefigure-grossing tours every year for the past decade. The relationsh­ip is a symbiotic one: people rarely pay to see acts they don’t know, and streaming drasticall­y reduced the cost and effort of discoverin­g music. However, touring represents the bulk of nearly all artistes’ income.

The aid was significan­tly less than that received by other entertainm­ent-related businesses, including West’s apparel company Yeezy, STX Entertainm­ent, New Regency and Laemmle Theatres. STX and Yeezy both reported receiving $2-5 million and retaining 100 and 106 jobs, respective­ly, while New Regency received between $1-2 million, and retained 50 jobs.

It’s also worth noting that not all companies who applied for a PPP loan took the payout. Ithaca Holdings, for instance, which houses Scooter Braun-led management firm SB Projects (Ariana Grande, Justin Bieber, Demi Lovato) as well as Big Machine Label Group, was approved for a $2 million loan and opted not to take it, according to an insider. and slowly establishe­d his name Down Under as a Country singer. Starting to work with the church and the Gospel singing, Kerrigan became more popular as a Gospel singer, song

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