Guns N. Roses, agglomerates, pearls were followed by PPP ans – various

According to documents from the Department of Small Business Administration and the Treasury, Yezi of Kanye West was not the only musician in the business, but also took loans from gun n ‘rose, agglomerates, pearl jam, Green Day and other traveling musicians. The news was first reported by Rolling Stone.

The funding is intended for current and future tour crews and other support staff as part of the federal government’s $ 2 trillion carry law to help small businesses affected by coronavirus. Promises of the above activities do not respond immediately DiversityRequest to comment.

Ag Gals, Pearl Jam and Disturbed received between ,000 350,000 and মিল 1 million, and several other artists received between ,000 150,000 and $ 350,000. Nickelback, Papa Roach, Pentatonics, Russell Flats, Chris Stapleton, Tools, 311, Weser and Wiz Khalifa. Messina Turing Group, which has promoted many of Taylor Swift’s travels, was among the recipients.

The news emphasizes how dependent the music industry has become on travel, and how many artists have become financially exposed without it. Streaming is often cited as the savior of the music business – which lost half its value to CD sales due to illegal downloads in the early 2000s – it’s actually the concert industry that has brought it back to health more than once – figure-grossing tours every year over the past decade. The relationship is a symbiotic one: people rarely show activities they don’t know, and the cost and effort of discovering music in streaming is significantly reduced. However, travel represents the bulk of the income of almost all artists.

Support was lower than the amount received from other entertainment-related businesses, including West’s clothing company Yezi, STX Entertainment, New Regency and Lamel Theater. STX and Yeeze both reportedly retained -5 2-5 million and 100 and 106 jobs, respectively, while New Regency received between 1-2 1-2 million and retained 50 jobs.

It is also noteworthy that not all the companies that applied for the PPP loan received the payment. For example, Ithaca Holdings, which includes SB Projects (Ariana Grande, Justin Bieber, Demi Lovato), a management company led by Scooter Brown, as well as the Big Machine label group, was approved for ২ 2 million and decided not to accept it.