State of the Music Industry: Don’t Forget the Impact on the Supply Chains!
/
By Dominic Wren
When thinking of a concert, whether it’s held at a festival or a nightclub, the first things that will generally come to mind is the DJ/act, the music itself, the vibe, or even the location/institution where the event is being held. These are all very important parts to what makes a great music event, but one aspect that most concert attendees overlook is all the secondary businesses that are hired to actually make the event a reality and a success. Think of all the security, lighting, railing, PA systems (speakers), trailers, and even the assembly of the stages themselves. These are only a few of so many more crucial aspects of what makes a successful music event. Well with the live music industry coming to a halt, most of these companies are stuck in a position where they cannot sell their services anymore. Unfortunately, when looking down one section of the economy, it generally has much more collateral damage than we can think of.
In an interview with Zachary Monson, host of Stingray PausePlay and music producer, he stated: “Sadly a lot of the same fate of the venues will fall to the suppliers who, at the same time, have no events to supply to.” Other industry professionals have slightly different opinions on the effect of supply. Ali Shafaee, a director of Escapade Music Festival and DNA Presents, suggests that every industry is taking a hit, so those who are most innovative will breakout of this just fine. He states in an interview with EDM Canada: “It’s not about those with the deepest pockets who’ll survive, but those who are most innovative.” To give a bit a better perspective of the scale of the damage, according to the Daily Mail, Elton John, a musician that makes a gazillion dollars a year, has laid off his backing band and some staff members in the beginning of June. Some of those band members have even been part of the Elton John’s group since the early 70s.
Shut down of live music has unfortunately had some major consequences on not only the festivals and nightclubs but all the companies that make our favourite music events possible. Some areas are more affected than others but all companies that supply concerts have felt some damage. In the next article of the series, we will look at how the music industry has bounced back from past industry crisis’s and by consequence how the industry has evolved. Stay tuned!
