CelebrityAccess | While it’s no secret that independent music venues across North America are struggling to survive, one music executive has launched a plan to save at least some of them and maybe reshape the music industry at the same time.
Marc Geiger, a veteran music exec who until earlier this year, served as the global head of music at talent agency WME, has launched SaveLives, a new venture aimed a throwing a financial lifeline to at-risk music venues.
According to the New York Times, Geiger has been quietly raising a capital that he hopes to invest in dozens of concert venues around the country to help them weather the storm of COVID-19.
In return, Geiger will receive a 51% stake in the rescued venue which he hopes to parley into regional networks that will help the concert industry return to full force as the pandemic wanes.
“One of my favorite things in the world is to go to a club, be treated well and see an incredible band,” Geiger, told the Times. “So I thought, ‘OK, I’m going to raise a bunch of money and I’m going to backstop all these clubs. I’m going to be a bailout solution for them, and I’m going to call the company SaveLive.’”
Read the full article here including why John Fogelman is concerned about this: https://celebrityaccess.com/2020/10/28/marc-geiger-launches-investment-plan-for-struggling-indie-music-venues/