Live Nation's $1.2 Million Finders Fee

SUMMERSIDE, PIE (CelebrityAccess MediaWire) — The city of Summerside has revealed that they've paid $1.2 million to Live Nation in order to locate an "A-list" artist for the city to promote a show around next year.

The fee however, does not include any of the costs to promote the event, which the city would be on the hook for, including production, artist fees, marketing and other costs. The city had initially been planning to promote the event in July of this year, but the concert failed to materialize, due to scheduling issues, city officials said.

According to the Journal-Pioneer, city officials estimated that the concert would need to sell more than 25,000 tickets, or approximately 1/6th of the entire population of the island to break even, but they otherwise seemed a little nebulous on the details.

"The only thing I can tell you is we plan to have this concert and it’s going to be a big one," Summerside mayor Basil Stewart told the Journal-Pioneer. The mayor noted that he was hesitant to elaborate because of a non-disclosure agreement the city has with Live Nation.

"I know they dealt with an agent and they have a business plan in place, but that’s all I have information on right now," added Barry Chappell, Chairman of the city's Community Services Department. – CelebrityAccess Staff Writers

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