Live Nation CEO Michael Rapino donates $250k to Crew Nation fund
Live Nation has launched a US $10 million chartitable fund to help support crews affected by COVID-19 and its devastating impact on the live sector.
The global concert giant has contributed $5m to the fund and will match the next $5m pledged by artists, fans and its employees.
Its CEO & chairman, Michael Rapino, has also pledged US $250,000 from his own pocket.
“Concerts wouldn’t be possible without the crew working behind the scenes to bring them to life,” said Rapino. “While concerts are on pause Live Nation has committed $10 million to the Crew Nation fund, and the Rapino family will be donating $250,000.”
According to proxy statements filed for the 2018 fiscal year, Rapino earned almost US $11.6m in compensation from a base salary of $3m and about $8.4m in bonuses.
Last month he also purchased about US $1m of Live Nation stock to boost market confidence after its share price suffered a punch due to bans on mass gatherings around the world.
Crew Nation, administered by Music Forward Foundation, will be accessible to eligible Australian’s who lost work as a result of a cancelled or postponed tour.
Concerts wouldn’t be possible without the crew working behind the scenes to bring them to life. While concerts are on pause @LiveNation has committed $10 million to the #CrewNation fund, and the Rapino family will be donating $250,000. Learn more: https://t.co/XoZ5Wh60Cd
— Michael Rapino (@Michael_Rapino) March 31, 2020
Live Nation will be contacting crew members whose income has already been hit as a result of the cancellation or rescheduling of a Live Nation event.
In a statement, the charitable fund outlined its ambitions to help those unable to work.
“Live music inspires millions around the world, but the concerts we all enjoy wouldn’t be possible without the countless crew members working behind the scenes.
“As COVID-19 puts concerts on pause, we want to extend a helping hand to the touring and venue crews who depend on shows to make a living. Crew Nation was created to do just that.
“Crew members are the backbone of the live music industry, and we hope you’ll join us in supporting them through this temporary intermission until we can once again unite millions around the world through the power of live music.
“Thanks for your support, and we look forward to seeing you at a show again soon.”
Eligible workers include tour managers, production managers, riggers, engineers, techs, lighting directors/designers, special effects teams, carpenters and more.
To find out more, or make a donation, visit the Crew Nation website.