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Tue Jul 7, 2020, 08:55 PM

Eagles, Pearl Jam, Guns N' Roses Among Groups Receiving PPP Loans for Postponed Tours

With concert tours almost completely shuttered through the ongoing COVID-19 pandemic since March, some of the biggest acts in music — including the Eagles, Pearl Jam, Guns N’ Roses and Green Day — have received federal funding to support their crews for any current and future postponed tours, according to data released Monday by the Small Business Administration and Treasury Department. The financial support is part of the government’s recently enacted $2 trillion CARES act intended for relief to small businesses impacted by the coronavirus.

The Eagles, Pearl Jam and Disturbed took out some of the larger loans among the listed touring musicians, being granted somewhere between $350,000 and $1 million, and many of the other artists received between $150,000 and $350,000. Rolling Stone has identified more than 50 musicians and groups across all genres among the 660,000 recipients who were granted a loan for more than $150,000, according to the data, joined by small businesses such as restaurants and bars along with construction and plumbing companies.

Tool, Nickelback, Imagine Dragons, Incubus, Slipknot, My Chemical Romance, Wilco, Weezer, Cheap Trick, Tim McGraw, Chainsmokers, Bon Iver’s Justin Vernon, Disturbed, Gary Clark Jr., Papa Roach, Ryan Tedder and the Head and the Heart have all received similar loans of varying amounts. Rappers Wiz Khalifa, French Montana and Lil Jon also received loans alongside country and Americana stars Rascal Flatts, Chris Stapleton, Luke Combs, Kip Moore and Jason Isbell.

On Monday, the U.K. announced a $2 billion bailout for arts-related businesses such as concert venues, but relief for live music has been mixed in the U.S. Since April, the National Independent Venue Association has pushed legislators to give more assistance to venues, which have been completely shut down over social distancing measures with little alternative means of revenue. NIVA, founded in April, started with about 800 participating venues and now has nearly 2,000 venues as members. In May NIVA said 90% of its venues couldn’t operate for more than six months without more government assistance. “You’ll see, in the public, a lot more closings that are happening,” NIVA vice president Justin Kantor previously told Rolling Stone. “Right now, there’s three or four venues a week that I’m hearing about, in the nation, that are announcing it publicly. But a lot of [others] are probably in just as bad shape — they just haven’t officially gotten the boot by their landlord.”

https://www.rollingstone.com/pro/news/eagles-pearl-jam-guns-n-roses-ppp-loans-1025111/

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Reply Eagles, Pearl Jam, Guns N' Roses Among Groups Receiving PPP Loans for Postponed Tours (Original post)
Yo_Mama_Been_Loggin Jul 7 OP
NightWatcher Jul 7 #1
JI7 Jul 7 #5
NightWatcher Jul 7 #6
Beaverhausen Jul 7 #7
underpants Jul 7 #2
greenjar_01 Jul 7 #3
Initech Jul 7 #4
marybourg Jul 7 #8
Dr. Strange Jul 7 #9

Response to Yo_Mama_Been_Loggin (Original post)

Tue Jul 7, 2020, 08:58 PM

1. If you cancel a tour you do put a lot of people out of work

I'd like to see proof that this money was passed to those for whom it was meant, you know the employees, and not just to help the bottom line of the talent and management.

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Response to NightWatcher (Reply #1)

Tue Jul 7, 2020, 09:09 PM

5. But in some of these cases couldn't the bands pay to support them ?

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Response to JI7 (Reply #5)

Tue Jul 7, 2020, 09:17 PM

6. That was the purpose of the program.

It's not fair to ask GNR to pay vendors and subcontractors out of their pocket when they could get the assistance from the government.

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Response to JI7 (Reply #5)

Tue Jul 7, 2020, 09:18 PM

7. Musicians/songwriters are not making the money they used to

Between crappy streaming services and everyone wanting music for free, touring is without question the way most musicians make any money.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Jul 7, 2020, 09:01 PM

2. As I saw posted here earlier - they qualified

there’s no evidence that anyone didn’t get a loan/grant because they did.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Jul 7, 2020, 09:05 PM

3. Bought a few tshirts during the quarantine to support the crews for my fav bands

A couple of them had the shirts explicitly for the crews (100% of proceeds, etc.).

Glad they could get PPP as well. It's an obvious business affected by COVID.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Jul 7, 2020, 09:09 PM

4. I'm glad that the UK is taking steps to support the arts.

I wish we'd do the same here.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Jul 7, 2020, 11:14 PM

8. Daughter's friend is sound engineer for big name band.

She has been getting salary and health ins. paid this entire time.

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Response to Yo_Mama_Been_Loggin (Original post)

Tue Jul 7, 2020, 11:48 PM

9. Nickelback? NICKELBACK?!

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