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Time is running out. The U.S. Treasury Department presently has a cash balance of under $39 billion, which is the lowest in six years. The Treasury Secretary, Janet Yellen, anticipates that the government will be out of funds by June 5.
Why Musicians Cannot Refuse Private Gigs
Private gigs, known as “privates” in the music industry, are becoming increasingly common, from charity events in New York to luxury hotel openings in the Persian Gulf, backed by wealthy individuals and firms. These small-scale star-studded shows are not open to the general public.
According to an article in The New Yorker, private gigs have become a reliable source of income for chart-toppers and has-been performers alike. The author, Evan Osnos, writes about Flo Rida, the rapper, performing at a bar mitzvah in Lincolnshire, a wealthy Chicago suburb.
“Nostalgia performers,” an age bracket for older crooners, dominate the world of privates, says Jacqueline Sabec, a San Francisco-based entertainment lawyer who has negotiated several private gig contracts. She told me, “Artists used to say no to these all the time, because they just weren’t cool.”
However, artists’ reservations have greatly diminished now. In January, Beyoncé performed for the first time in over four years, not in front of screaming fans in a stadium, but at a new hotel in Dubai, reportedly earning $24 million for an hour-long set.
Nowadays, few artists turn down private gigs due to the significant monetary benefits, with Jennifer Lopez, Maroon 5, and Eric Clapton all accepting such offers. Even younger artists are not afraid of any potential social stigma, as one agent stated, “It’s a convention or a party, and you just happen to be making noise at one end of it.”
However, according to Mr. Osnos, some performers remain hesitant to entertain private offers, including Bruce Springsteen, Taylor Swift, and AC/DC, whose reasons for declining are unclear.
