Pearl Jam takes PPP Loans

JF116983

Wow I hope they are ok financially:

https://www.yahoo.com/entertainment/guns-n-roses-eagles-pearl-203259985.html

ski-bum

We're never going to get those singles now.

Foriginal Sin

It appears that those loans were to pay out crews and staff for tours. If your income is based entirely off of touring and you can’t work this is probably helping. I’m thinking any member of the band is quite financially sound unless they invested with Lou Pearlman; Band still collecting royalties, SiruisXM Radio money, merch, etc. 

JF116983

Article notes:

The news emphasizes 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 savior of the music business — which lost half of its value as CD sales plummeted due to illegal downloading in the early ‘00s — it was actually the concert industry that brought it back to health, spawning multiple nine-figure-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 artists’ income.

Tim Simmons

So we’re only learning in 2020 that bands make most of their money touring. Interesting. 

Gern Blansten

I wonder if Foghat got a PPP loan...

Bentleyspop

   https://community.pearljam.com/discussion/286464/eagles-pearl-jam-guns-n-roses-among-groups-receiving-ppp-loans-for-postponed-tours#latest

Zod

Tim Simmons said:

So we’re only learning in 2020 that bands make most of their money touring. Interesting. 

People thought they got rich from selling a few thousand viewfinders and dividing it 5 ways.... lol.

While it's annoying the PJ puts out limited merch online.  They're few and far between.  The runs are usually too small to really be that much of a money maker.

Not only do they get all the ticket money from touring, but we lineup like cattle to hand over truckloads of money to buy merch.   They probably sell more merch at a single stadium show than they do in years of online sales.

I suppose this means they really do intend to do the tour when it's safe to do so.  Now that they've got a loan to pay back.

Poncier

Zod said:

Tim Simmons said:

So we’re only learning in 2020 that bands make most of their money touring. Interesting. 

  Now that they've got a loan to pay back.

They don't have to pay it back if they use it according to the guidelines, with the majority going towards payroll, which I'm sure probably all or nearly all of it is.

JF116983

That’s would be smart I suppose free money is free money hard to say no, thanks for that

Gern Blansten

JF116983 said:

That’s would be smart I suppose free money is free money hard to say no, thanks for that

Exactly...it's odd for sure but if I were their advisor I would have told them to get the $$$