“We don’t see this as a distressed-asset play,” Moelis said in an interview. To a degree, indie venues’ vulnerability is rooted in their very independence: most operate on thin margins and have limited financial resources. “The best thrill in our business is when an artist is breaking,” he said. “It doesn’t get any better than that.”With Lollapalooza — which he created with Perry Farrell of Jane’s Addiction and another agent, Don Muller — Geiger helped crystallize the alternative market just as it was about to explode. The success of those tours had a lasting impact, said Paul Tollett, the promoter behind the Coachella festival, who said that he and fellow regional promoters “cut our teeth” on the early Lollapalooza tours.

Source: New York Times October 28, 2020 14:03 UTC