Radar followers will be familiar with our harpings on of bubbles and dubious movements in the live sector here in China (see State of the Union). Well we’re seeing the same thing in Aussie land, with ToneDeaf giving a rundown of the fallout of the oversupply of talent:
In just under two weeks, Pyramid Rock have announced the cancellation of its 2013 edition, the inaugural Boomerang Festival has faced an uphill battle, while concert promoters such as Fat As Butter, and companies tied to Future Entertainment and Andrew McManus have all entered liquidation.
It’s a question of self-restraint. There is only so much that can be done before audiences become exhausted or out of pocket, and this is particularly the case within developing markets such as China, where festivals are still a new phenomenon. Exercising the ability to turn down opportunities is something promoters will need to do more of in 2014. With the exception of Metallica and Pitbull, nearly all of the high-calibre international shows were a bust this summer (with Aerosmith and Shanghai Sonic being the most spectacular flops we’ve ever seen here in China). We were at the Shanghai East Bank Jazz Festival this weekend just past, along with a hoard of 75 other jazz fans and some tumbleweed. The QSW auditorium wasn’t done justice. We’re hearing noises about some equally big shows coming up over the next 3 months – some of them sound like they might work, most of them feel pretty mega-sketch to be honest.
As we’ve said before, the danger of all of these bankruptcies and flopped events is that the audience will lose confidence in the viability of spending big money on tickets for live entertainment. Who wants to be the only person at a show? This is China –it should be near impossible to keep a room empty for an extended period of time. Live events depend on atmosphere and buzz to deliver a full experience, and too many times, Chinese gig goers are missing that vital ingredient. Positive growth can’t be supported with constant booms and busts.