ATLANTA — Independent music venues like The Masquerade, Eddie’s Attic and the 40 Watt Club are vital cultural icons that contribute significantly to local economies, but many are struggling to remain profitable.
Channel 2’s Michael Doudna examines the impact impact and challenges facing these venues.
A recent report highlights that independent venues contribute more than $153 billion in economic output annually in the U.S., with $51 billion in wages paid. On the national level, 64% of these venues are not profitable.
Yet in Georgia, the reverse is true, with 64% making a profit, $1.1 billion added to the state gross domestic product and $83 million in taxes.
These venues face economic pressures despite their substantial contributions to the economy.
The Masquerade’s Greg Green talks about what the venue means for Atlanta.
“For the city it’s a cultural icon. We’ve been here for more than 35 years. It’s tough and it’s a struggle. Everything nowadays is more expensive as we know,” he said.
“If they go away, community doesn’t happen,” said Stephen Parker, executive director of the National Independent Venue Association.
Parker emphasized that independent venues are crucial for local economies, providing spaces for upcoming artists and generating significant economic output.
“What that means is this sector we now know is larger than the U.S. beer industry, it’s larger than US airlines industry, and it’s large than the video game industry,” he said.
Green said of the struggle of independent venues, “I think it’s the economic formula that has changed.”
Parker pointed out that rising costs and competition from large corporations like Live Nation and Ticketmaster, pose significant challenges to these venues.
“Live Nation is a problem. Live Nation is perhaps the biggest threat for the continued existence of independent stages,” Parker said.
He noted that Live Nation’s practices including signing exclusive contracts with artists, prevent them from performing at local venues.
“And ultimately, there is no small business or nonprofit of America that is live nation’s direct competition that could ever compete with that,” Parker said.
The Federal Trade Commission sued Live Nation and Ticketmaster last month for deceptive ticket practices.
Despite these challenges, venues like The Masquerade continue to adapt and hope to thrive in the future, with organizations like NIVA advocating for policy changes to support them.
NIVA is pushing changes on the state and national level to help local venues.
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