30.10.2012, Words by dummymag

Hurricane Sandy will cost the music industry a lot of money

The hurricane is set to cost "millions in lost profits" as various gigs across the US East Coast are forced to be cancelled or postponed.

Artists ranging from The Soft Moon to Action Bronson have had to postpone or cancel their upcoming scheduled shows on the East Coast due to Hurricane Sandy, and when you consider all of the other performances which are being forced to call it quits as a result of the more than slightly inclement weather, it’s no wonder that it’s going to cost promoters and artists alike a hefty amount of cash.

Paul Bassman, president of entertainment insurance firm Doodson Insurance Brokerage, has spoken on the loss in profit which is going to be seen as a result of the numerous cancellations:

“[Everyone’s] going to take a hit. […] Nothing’s really happened yet, but in New York City alone, if the subways are shut down, you can’t have shows. […] If you’re doing a show at Madison Square Garden and you’re going to walk off with a million-dollar profit, you’re not getting that profit.”

The news isn’t all so bad, with some artists having the ability to delay their shows by only a day or so. Bruce Springsteen and the E Street band, for example, are now playing their Rochester, New York show on Halloween instead of tonight, so fans can be thankful that not all postponements have been too drastic.

Whilst the damage caused by Hurricane Sandy, both physically as well as financially, is severely depressing, it’s clearly unavoidable. Those hoping to see artists live in various cities across the East Coast over the next coming weeks will have to wait and see if the show gets moved to a date in the near future. Needless to say, Dummy’s thoughts are with all those currently being affected by the hurricane.

All information courtesy of MusicWeek and Pitchfork.

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