In the live music business, it doesn’t get any bigger than stadium concerts. Thanks to the large seating capacity of most stadiums, artists playing at the top echelon of touring can earn $4 million to $5 million per show — double and triple what they can earn at arenas. 

But the model for stadium touring business wasn’t drafted by a major concert promotion company or a professional sports executive, but by a 16-year-old girl named Kay Wheeler who found herself swept off her feet by a Mississippi singer named Elvis Presley. According to the new book Rock Concert by Wall Street Journal music and arts contributor Marc Meyers, Wheeler convinced the Cotton Bowl to host a concert headlined by the “Blue Suede Shoes” crooner, convinced a local radio station to be her partner, and drew in a capacity crowd thanks a letter writing campaign promoting the concert. 

Wheeler is one of more than 100 people interviewed in the book that tracks both the cultural and financial growth of the concert business, from the post-war jazz and R&B clubs of South Los Angeles to Philadelphia’s JFK Stadium and London’s Wembley Stadium in 1985 for Live Aid (“the last spectacular rock concert before ticket prices climbed significantly,” Meyers writes). Written as an oral history, Rock Concert is told through the voice of fans, promoters and artists who lived it, including promoters Michael Lang with Woodstock, Larry Magid of Electric Factory Entertainment, Bob Weir of the Grateful Dead, Roger Waters of Pink Floyd, and Angus Young of AC/DC.  

The oral history format of the book provides readers a rare opportunity for the men and women of the concert business to tell their stories in their own voices, with new details about famous counter culture moments including that The Rolling Stones‘ set at the Altamont Speedway in 1969 in which one fan died after getting into a fight with a member of the Hells Angels. While the book casts a new light on events like Woodstock, a chapter on Ticketmaster featuring former chief executive Fred Rosen feels like a revisionist version of history that doesn’t neatly line up with the facts.

Specifically, Rosen claims that longstanding consumer discontent with Ticketmaster was mostly driven by  fans feeling angry at Ticketmaster about their seat locations at concerts, sitting rows back from where they wish they were sitting. After all, in the early pre-internet days of ticketing, fans couldn’t easily select their seats for show, but this explanation ignores long-standing criticism of  Ticketmaster’s alleged monopolistic lock on the concert business and complaints from the band Pearl Jam to Congress and the Department of Justice alleging that Rosen had tried to retaliate against the group for speaking out. In 1995, an investigation conducted by The New York Times found evidence of a sophisticated Watergate-style “dirty tricks campaign” waged against the band by lawyers and private investigators with ties to Ticketmaster, but stopped short of accusing the company of financing the operation.

That said, Meyers has never represented the book as an unbiased work of pure journalism, but a collection of perspectives from people like Rosen, who offer fascinating and very detailed anecdotes on computer engineering and ticketing systems dating back to the 1970s that any tech enthusiast or “ticketing nerd” will love. More importantly, Rock Concert is a honest, introspective book about a business badly in need of people of Meyers’s caliber — he is an awarding winning music journalist, historian and author of Why Jazz Happens and Anatomy of a Song — to ensure that the history of the live music business is preserved in compelling works of history like Rock Concert.

Below, Meyers explains his process and findings to Billboard in an interview that has been edited by editorial staff.

Why did you decide to write Rock Concert as an oral history instead of a more traditional write through?

I really wanted to give the reader an opportunity to feel and hear the sound of the voices. The voices are so important, how they phrase things, how they talk. It has more of a cinematic feel and is the result of two-and-a-half-years of interview that retains the flavor and the sound and the feel of what the eyewitnesses were saying at the time. 

How are the early concert promoters of the 1950s different from their peers in the music business? 

Rock concerts werent an organized business but more of a Wild West with hucksters and radio people, who were able to make a dime or two by putting on record hops. As you start to move into the ’60s, you get a lot of college kids who were in Boston or Chicago or New York who organized concerts at their schools and when they got graduated, decided that’s what they really wanted to do no matter what they were studying or how much their parents threatened to cut them off. They loved it. 

How did many of the sports team owners feel about hosting concerts at their arenas and stadiums? 

Many could see that moving shows indoors and out of the elements eliminated weather hazards and stampedes and provided access to water and health facilities, improving overall safety. And as soon as color TVs are introduced and people are staying home to watch sports, the owners told  their staff, “Get me the name of that hippie guy who came in here and wanted to book a band.” Once the owners lowered the risk and understood the demand, it became a business to them. 

You spend significant time with Fred Rosen of Ticketmaster talking about the ticketing battles with Tickettron in the 1980s. A lot of fans blame Ticketmaster for the rise of ticket prices through fees and rebates, but you make a different argument. Why do you think prices went up? 

Prices went up because the business guys figured out that the prices were absurdly low for what people were willing to pay. The Rolling Stones can price their tickets at $350 and sell out because they figured out the price point people are willing to pay.  

The unwritten epilogue of your book is the corporate takeover of music and formation of Live Nation. What has been the impact of consolidation in music? 

When something becomes a big business there has to be law and order with systems of making it marketable and profitable. The concert is no longer that thing out in the country where people lie in a field for four days — it’s a sophisticated enterprise that is no different than professional sports. 

But accidents still happen, like Astroworld. Do you think the failures of Astroworld are a result of not paying attention to the past?

No. I think what happened with Travis Scott is not any different than what almost happened in 1956 at the Cotton Bowl. Large crowds come with inherent risk. I’ve interviewed everybody at Altamont. It’s a miracle people didn’t die and that there wasn’t a rush of that stage. A stampede almost seemed inevitable to Keith Richards when he showed up. Woodstock was two ticks away from calling in 10,000 National Guard troops because the governor was afraid. If the national guard showed up, there may have been clashes. There may have been smoke. There may have been tear gas, you know, it could have ended really badly. And the same thing goes for a lot of these concerts. Anytime you get large numbers of people in an open area, there are risks and while the risk has been mitigated in many places the risk still exists and always will exist. 

Click here to purchase a copy of Meyer’s book on Amazon.

Saturday Night Live will tape without a live audience on Saturday (Dec. 18) as COVID-19 cases linked to the omicron variant continue to surge in New York City and throughout the world.

The venerable NBC comedy show announced the decision to its social media channels roughly eight hours before the episode featuring host Paul Rudd and musical guest Charli XCX was scheduled to tape.

“Due to the recent spike in the Omicron variant and out of an abundance of caution, there will be no live audience for tonight’s taping of ‘Saturday Night Live’ and the show will have limited cast and crew,” the show’s message read. “The show continues to follow all government safety guidelines in addition to a rigorous testing protocol.”

This follows a spate of recent COVID-related cancellations for live entertainment in NYC, including numerous Broadway shows going dark for varying amounts of dates. The Rockettes also announced their annual Christmas Spectacular has been canceled for 2021 due to the ongoing pandemic.

This article originally appeared on The Hollywood Reporter.

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K-pop expanded its perimeters and scope this year while simultaneously infusing itself into today’s trends and sounds in creative ways. While many acts raised their international profiles with releases that found bigger audiences than ever, the songs that truly soared pushed the limits to represent more than just the stars singing them.

While it’d be impossible to capture the brilliance of the K-pop industry in one year-end list, these songs give a snapshot of some of the best that the scene had to offer in a year that was challenging for many but offered inspiration in other ways—including from these 25 songs.

Bruce Springsteen’s blockbuster catalog sale to Sony Music Group this week also established a new player in rights acquisitions.

Investment firm Eldridge Industries, which partnered with Sony to finance the purchase of Springsteen’s publishing, now holds a stake one of the industry’s most coveted catalogs — around which it can build an attractive portfolio.

Eldridge Industries is a private investment firm with holdings in tech, media, retail, entertainment and other sectors. Co-founded in 2015 by Todd Boehly, a former president at Guggenheim Partners, Eldridge investments include the Los Angeles Dodgers baseball team, sports gambling company DraftKings, private jet provider Flexjet and personal finance app Truebill, among others. Eldridge owns a stake in P-MRC, a joint venture of MRC and Penske Media Corporation that operates Billboard, The Hollywood Reporter, Variety, Rolling Stone and other media brands.

The Springsteen deal marks the company’s second major music deal, following its acquisition of The Killers’ pre-2020 publishing catalog — both publisher’s and writers’ share — that includes mega-hits “Somebody Told Me” and “Mr. Brightside” and covers the group’s first five albums.

With both deals, Eldridge has opted to partner with major publishers to work the catalogs and The Killers’ songs continue to be administered by Universal Music Publishing Group.

For the Springsteen deal, Eldridge teamed with Sony Music Publishing to acquire the artist’s career-spanning songwriting catalog of countless classics such as “Dancing in the Dark” and “Born to Run.” It did not participate in Sony’s acquisition of Springsteen’s recordings. In total, Sony paid upwards of $500 million for the two catalogs. Billboard estimates Springsteen’s publishing catalog alone generates $7.5 million per year and is worth upwards of $225 million at a premium 30-times multiple commanded by elite catalogs.

As music catalog prices continue to soar, the partnership makes sense for both companies. Sony, which spent $1.4 billion on music assets in the first half of 2021 — including Paul Simon’s publishing catalog — can afford more top-shelf catalogs with a partner like Eldridge helping carry the financial burden. Working with Sony, the largest music publisher, gives an outsider such as Eldridge a seat at an exclusive table. Such pairings can be crucial when competitors have combined resources to pursue the most desirable catalogs.

Already in 2021, three major private equity firms have pledged significant funding for fmusic rights: Blackstone and Hipgnosis Songs Management announced a $1 billion partnership in October and KKR is again working with BMG “to invest in transactions of all sizes,” the companies said in March. Also in October, Apollo Global Management committed up to $1 billion to fund HarbourView Equity Partners to buy entertainment assets such as publishing and recording rights. Blackstone, KKR and Apollo have a combined $1.57 trillion under management.

David Reich has been named president at UnitedMasters, the company announced Friday (Dec. 17). He succeeds Lauren Wirtzer-Seawood, who departed the role in May to join SoundCloud as chief content and marketing officer.

Reich arrives at UnitedMasters following five years at Uber, where he led product and growth in 60 countries before founding and leading Uber Transit as general manager and head of product. Prior to that, he was a founder and CEO at Assured Labor, a digital recruitment platform in Latin America.

“David has played a key role in building some of the most impactful digital marketplaces in the world,” said UnitedMasters founder and CEO Steve Stoute in a statement. “We are excited that he has joined the UnitedMasters team at such an important inflection point in the music industry and as UnitedMasters continues to scale.”

UnitedMasters claims more than 1.3 million artists on the platform, which provides digital distribution as well as brand partnership opportunities for artists with companies and organizations including the NBA, ESPN, TikTok and Twitch. Over the past year, the company has raised $170 million and is valued at $550 million, with backers including Andreesesen Horowitz, Apple, Alphabet and Disney. Following its most recent funding round in October, the company noted it would use the investment to develop technology that will allow artists “to work and create deals directly with platforms and brand partners, frictionlessly, at scale.”

“With UnitedMasters going beyond distribution and developing a full suite of services to support artists at every step of their journey, I’m thrilled to help our artist base pursue their dreams, grow their fan base, and get paid to do what they love,” said Reich in a statement.