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So, there’s no way to sugar coat what’s going on in the world right now. Coming out of death and plague via the most recent wave of Covid (which I personally do not believe is done with us yet), we encounter another one of the alleged four horsemen.
War.
Beyond the unspeakable acts of selfish, unwarranted and flat out batshit crazy madness of a terrifying and unstable dictator invading a country on lies that he may or may not believe himself, war has a global impact on the world, and where you will notice it first, is in the economy.
Sky rocketing fuel prices, the cost of food going up… This is just the beginning.
But those who are truly feeling it hard right now, right in the bank account, are those countries in the EU that still hold their own currencies. These countries also happen to border (or are close to) Ukraine.
Poland, Hungary and Czech Republic are watching their currencies plummet in the midst of all of this unnecessary violence. While that is devastating in itself, imagine for a moment that you are a promoter in one of these countries.
You have been hit hard by 2 years of pandemic hell. You’ve booked, re-booked and re-re-booked artists for a big event. When you made the deal, your currency was stable and strong enough for you to make an offer to the artists, in the more popular currency of EUROS. You calculated what this would cost you in your local currency. You knew that the currency could and would likely fluctuate a bit, but you have accounted for that.
But then…BOOM.
Literally.
Your currency has plummeted to rates you could not have foreseen, even under the worst case scenario.
What was once costing you 10.000 EUR, give or take a few Złoty, is now costing you nearly double what you had initially accounted for.
So what to do?
Contracts are out. Announcements are made. Tickets have been purchased.
Join us Monday, March 14th as we are joined by key promoters in the countries hit first and hard by the global market as we discuss what this means for shows in the near future and what measures are being taken to guarantee they can survive, yet another unforeseen catastrophe.
Click “Join Meeting” below to attend. 20:00 CET / 19:00 GMT / 2PM EST / 11AM PST.
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