After a series of concerning tweets last night, President Trump declared negotiations over another trillion-dollar package would be halted until after the election. Instead, Mr. Trump stated he wanted to focus on confirming Judge Amy Coney Barrett to the Supreme Court.
The next stimulus bill, which included $10 billion for the music industry, was highly anticipated by smaller musicians, venues, labels and crew — many of which aren't independently wealthy and depend on revenue from concerts and events. Without support from the government, venues alone are forecast to lose up to $8.9 billion of revenue this year.
By not supporting the music business now, Trump is resigning more venues to closure. As the National Independent Venues Association said in a statement yesterday, "We have been sounding the alarm since April that if our members don’t get emergency assistance, they will go under forever—and it’s happening. This is real. We need help. We urge Congress and the White House to continue negotiations and reach a deal quickly or there will be a mass collapse of this industry."
Independent venues are where music careers start and flourish. Their disappearance could lead to a monopoly between industry giants like Live Nation and AEG, allowing such companies to book up artists and dictate pricing in the future.
Later today, Trump suggested a second stimulus check for citizens might be on the way, as well as specific measures to fund airlines and small businesses. No word on the music industry (yet). May this be the end of live music as we know it?