The pandemic severely damaged the live music ecosystem because revenue streams were eliminated while many operating expenses remained. These deficits are difficult for operators to overcome, and as a result, many are being forced to permanently shutter their businesses as landlords sell the land to the highest bidder. For example, the famous West Hollywood venue The Troubadour, which opened in 1957, hosted a pre-Grammys salute to Willie Nelson on January 25, 2020, and was out of business by August 2020.

In partnership with First Avenue, a venue operator in Minnesota, our Live Venue Recovery Fund works with live venue operators to establish long-term ownership and increase the number of owner-operators to create a more diverse and sustainable live music ecosystem. Not only does this position the industry to address future challenges, but it also strengthens communities by preserving the musical history of venues and protecting the local economies they support since $1 per ticket generates approximately $12 for the local economy.