Fyre Fest 2: “An event that does not exist”

Last week tickets went on sale for Fyre Fest 2, set to take place May 30 - June 2 at 21°12'32.3"N 86°43'43.3"W, coordinates that point to water off the coast of Isla Mujeres, Mexico. However, according to a local tourism official in Isla Mujeres, “We have no knowledge of this event, nor contact with any person or company about it. For us, this is an event that does not exist.” The tourism board also put out a statement saying that no permits have been requested for the event. No lineup has been announced, yet ticket prices range from $1,400 to $1.1 million. Yikes.

UPDATE: 1975 vs Good Vibes Festival 🇲🇾

A judge has cleared The 1975 band members of liability in the $2.4 million lawsuit from Future Sound Asia (FSA), the organizers behind Malaysia’s Good Vibes Festival. Quick reminder, FSA sued The 1975 Productions LLP following frontman Matty Healy kissing bassist Ross MacDonald on stage at the Kuala Lumpur fest in July 2023, immediately canceling the show and the remainder of the festival. The ruling allows the suit between FSA and the company to continue, but the band members cannot be held liable.

Will tariffs affect fireworks shows?

The fireworks industry is facing significant challenges due to new trade policies and tariffs, including a 10% tariff on imported fireworks. China's counter tariffs are also disrupting supply chains by restricting key minerals and raising production costs. These issues may result in higher consumer prices and potential shortages for major holidays, festivals, and events. The American Pyrotechnics Association (APA) is actively working to support its members and address these disruptions.

Germany dominated 2024 EU festival marke 🇩🇪

Germany led Europe's festival market in 2024, with its top five festivals—Rock am Ring, Hurricane, Rock im Park, Southside, and SonneMondSterne—achieving significant ticket sales and grosses. Despite this success, the industry faces challenges such as rising production costs, skilled labor shortages, and the need for sustainable practices. Additionally, nurturing emerging talent into future headliners is becoming increasingly difficult.

Live Nation to revive Finland venue 🇫🇮

Live Nation has signed a 20-year deal to operate Helsinki Halli in Helsinki, Finland with plans to bring “the arena back to life.” The arena originally opened in 1997, closed in 2020, and was briefly reopened in 2021, but has been dormant since. The 15,900-cap venue is set to reopen in the spring.

Teddy Swims fans denied in Amsterdam 🇳🇱

“Hundreds” of Teddy Swims fans were denied entry to his February 22 show at the Ziggo Dome in Amsterdam after purchasing them from reseller Viagogo. The venue claimed the tickets were fraudulent. According to Viagogo, “Tickets purchased through Viagogo by fans were not fraudulent, and it was the venue’s decision to not grant access to the event.” They later found that they had been sent by the “wrong delivery plan” and it was “human error.” Fans were offered full refunds.

Transactions:

SaveLive, the company Marc Geiger and John Fogelman created to bring scalable services and advantages to independent venues, has rebranded as Gate 52.

TKO Group Holdings has completed its acquisition of IMG, On Location, and Professional Bull Riders. The all-equity transaction valued at $3.25 billion was initially announced in October.

Netherlands-based customer engagement and ticketing platform CM.com has acquired blockchain ticketing company GUTS Tickets.

Universe, Ticketmaster’s self-serve ticketing platform, is integrating with SoundCloud so users can promote and sell tickets within the streaming platform.

#peoplenews

AEG Presents: Andrew Klein promoted to President of Global Partnerships, from previous role as SVP of Global Partnerships.

IEBA: Brian Wagner named Executive Director, succeeding Pam Matthews who is retiring after 10 years at the helm.

• Australia-based Tixel is looking for its first Senior Customer Success Lead in the US. Job is remote, but the workday must have at least 4-hour overlap with Melbourne, AUS time.

• Lucky Strike Entertainment is hiring a remote - though South Florida preferred - Director of Special Events. Salary: $133,000 - $152,000.

• SJC Cultural Events, Inc. is looking for a Box Office Manager to manage all aspects of box office operations at the Ponte Vedra Concert Hall in Ponte Vedra Beach, FL. 

Last Week's Results:
70% of BOH readers say “no way” to working Fyre Fest, even if the price was right. (same)

Lineups, Festival & Tour Announcements 

• Sound Talent Group agency announced the Summer of Loud Festival, a new, 25-date festival tour featuring a full STG lineup including Bearthooth, I Prevail, Killswitch Engage, and more. The tour starts June 2 in West Palm Beach, FL and ends July 27 in Charlotte, NC.

• Vans Warped Tour has announced the lineups for its 30th anniversary tour. Asking Alexandria, Less than Jake, and Sublime will hit all three venues, the rest of the lineups vary by location. The tour stops in Washington, DC on June 14; Long Beach, CA on July 26 - 27; and Orlando, FL on November 15 - 16. 

• Festival D’été de Québec (FEQ) has Shania Twain, Hozier, Slayer, and Benson Boone at the July 3 - 13 festival in Québec City, QC. 

• Project Pabst Fest at Waterfront Park in Portland, OR announced Iggy Pop, Death Cab For Cutie, Devo, and Japanese Breakfast as headliners, July 26 - 27. 

• The inaugural Back Cove Music & Arts Festival in Portland, ME will be headlined by Jack White and Lord Huron, August 2 - 3 at Payson Park.

• Belly Up Aspen and C3 Presents are partnering on the inaugural Up In The Sky Music Festival, August 8 - 9 at Buttermilk in Aspen, CO. Rüfüs Du Sol and Kacey Musgraves will headline.

• North Coast Music Festival announced Zedd, REZZ, Zeds Dead and a rare drum & bass set from deadmau5 to celebrate their 15th anniversary, August 29 - 31 in Chicago, IL.

• Rocklahoma will feature Five Finger Death Punch, Breaking Benjamin, and Shinedown, in Pryor, OK, August 29 - 31.

• Louisville, KY’s Louder than Life announced Slayer, Rob Zombie, Avenged Sevenfold, and Bring Me the Horizon, September 18 - 21 at the Highland Festival Grounds at Kentucky Exposition Center.

• My Chemical Romance, Blink-182 and Deftones top the Shaky Knees Festival lineup, September 19 - 21 in Atlanta, GA's Piedmont Park.

• When We Were Young added a duplicate day to the Las Vegas nostalgia fest. Now taking place October 18 and 19, WWWY features an identical lineup each day, including Panic! At The Disco, blink-182, Weezer, and Avril Lavigne.

It’s tax season and Miguel Williams, owner of Williams & Associates, a small, full service accounting firm focusing on individual tax returns, business accounting, and strategic tax planning in the entertainment and sports industry, has some updates and tips. Have more questions for him or want him to prepare your taxes (he does ours and is awesome!), reach out at [email protected].

Deadlines to be aware of:

• March 17: Deadline for partnerships and S corporations to file 2024 tax returns or request an extension.

• April 15: Deadline for individuals and for C corporations to file and pay income tax returns or request an extension and pay; Q1 estimated tax payment due for individuals and businesses.

• June 16: Deadline for US citizens or resident aliens living and working outside the US to file individual tax returns; Q2 estimated tax payment due for individuals and businesses.

• September 15: Deadline to file extended tax returns for partnerships and S corporations; Q3 estimated tax payment due for individuals and businesses.

• October 15: Extension deadline to file individual and C corporation tax returns.

• January 15: Q4 2025 estimated tax payment due for individuals and businesses.

What’s new with tax filing this year? 

Standard Deduction: Increased to $14,600 for single filers, $29,200 for married couples filing jointly, and $21,900 for heads of household.

Adjusted Tax Brackets: Income thresholds for tax brackets have been increased to account for inflation, helping prevent bracket creep and keeping more income in lower tax rates.

Crypto & Digital Assets Must Be Reported

Higher Retirement Contribution Limits: $23,000 for 401(k); $7,000 for IRA. 

Alternative Minimum Tax (AMT): Increased to $88,100 for single filers and $137,400 for married couples filing jointly, reducing the number of taxpayers affected by this parallel tax system.

State & Local Tax (SALT) Deduction: Cap remains at $10,000, despite ongoing policy discussions.

Anything else we should be thinking about when filing?

Tax changes will affect many taxpayers. Freelancers/gig workers should track income and expenses (especially from 3rd party transactions) throughout the year to ensure accurate tax filings and avoid unexpected tax bills and penalties. Some may owe Self Employment Tax but can claim a credit to offset a portion of it. Estimated Tax Payments can prevent issues with the IRS.

Keep in mind, the IRS is continuing to work on staffing issues and may face some delays in processing returns and issuing refunds. It is recommended that taxpayers file early to avoid delays.

• May 2 - 3 (Indio, CA): Breaking Into The Music Industry conference, designed for entrepreneurs, aspiring musicians, artists, and professionals looking to establish or elevate their presence in the competitive and dynamic music industry.

• Today (March 4) is National Pancake Day. Celebrate with free pancakes at IHOP.

• From breakfast table to auction block: the bizarre journey of George Harrison’s piece of uneaten toast.

• Katy Perry is heading to space on Blue Origin’s all-female mission scheduled to launch in the spring.

• Shrek is coming back with Zendaya staring as Shrek and Fiona’s daughter in Shrek 5, set to release in December. Awesome.

• LIVE Green appeals to artists to include sustainability clauses in their booking contracts.

Questions or comments?

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