Episode 22: The Disappearing Middle Class of Music Venues

We record through a tornado warning to explore the global crisis facing live music venues, from the Live Nation antitrust lawsuit to the tragic closure of historic jazz clubs. In this episode, we break down the current state of music venues by analyzing the “ladder” of the live music industry. We discuss the recent Department of Justice antitrust ruling against Live Nation and Ticketmaster, before moving down the ladder to look at the devastating squeeze on mid-sized venues—the “missing middle”—and the recent closures of spaces like the Music Hall of Williamsburg, Highline Ballroom, and Stanhope House. Finally, we discuss the small-cap scene and legendary spots like the 55 Bar, Saint Vitus, and the Cotton Club. We also analyze new data on Gen Z’s spending and drinking habits, noting a massive shift toward upscale, hybrid “treat yourself” venues and questioning how touring independent bands will survive without the traditional dive bar circuit.