Australian promotor explains why Madonna didn’t happen

http://www.news.com.au/couriermail/story/0…012980,00.html

PROMOTERS have scrapped Australian tour plans for superstars Madonna, Neil Diamond and Paul McCartney because of the weak dollar.

Madonna had agreed to multiple dates in Sydney and Melbourne in late January, and was holding talks about possible gigs in Brisbane and Perth, with tickets expected to go on sale two weeks ago with a top ticket price of $400.

“It got as close as anything ever gets,” a tour industry source said. “Madonna was coming to Australia, the dates were resolved but then the economics got in the way.”

The revelations follow a growing list of postponed tour plans by the world’s biggest superstars.

Concert industry sources say Diamond, McCartney, The Eagles, Green Day and Metallica have put visits on hold because of the bad economy.

“It’s unknown territory at the moment,” said promoter Michael Chugg. “A lot of tours went on sale before the dollar crashed.

“We are only starting to see the effect of the economy on the tour industry.”

Mr Coppel said the weak dollar had made promoters and touring superstars cautious. “The risk level has gone up substantially for US-based acts because our dollar is 35 per cent down from where it was three months ago.

“A lot of us have been caught out on deals that don’t make any sense. You can sell out a tour and still lose a seven-figure sum.”

But there are exceptions.

Promoter Michael Coppel is touring US singer Pink, who has broken box office records, including an 11-night stand in Melbourne. She will be in Brisbane in July. Mr Chugg, touring Coldplay in March, says the right acts always will do well. But Mr Coppel warns the weak dollar and exchange rate will push ticket prices up.

While some superstars adopt a wait-and-see approach on the economy, top line acts AC/DC and Tina Turner are set to include Australia in their world tour plans.

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Posted on December 2, 2008, in Madonna, Sticky & Sweet Tour and tagged . Bookmark the permalink. Leave a comment.

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