Industry Gatekeeper Luther Gales III Talks Resurgence of Nationwide Tours, Concerts, and Music Festivals
With the economy in recovery mode from the covid19 pandemic, the music industry has been the hardest hit sector when it comes to entertainment. Live performances was the biggest casualty with a nine month shutdown accounting for more than 15 billion in losses. With the industry fighting back with first quarter gains in 2022, the survivability of Live entertainment will require new approaches in the way media is delivered to consumers.
Luther Gales III, a young live entertainment promoter who has booked and secured some of the highest grossing shows in recent years. From producing his first concert in 2014, headlining the OMG Girlz, Diggy Simmons, Mindless Behavior, and Justine Skye, Luther has gone on to producing forthe biggest names in the industry which includes sports stars and political figures. In a market that is making a resurgence, Luther’s approach to promoting live shows is methodical and calculated. The underlying trends in both the ways people spend their money on entertainment has changed over the past two years. With streaming accounting or 47% of the market share, Luther has explored more unconventional methods of broadcasting live shows. With neighboring live event giants such as Live Nation and Verizon moving towards virtual reality concerts, Luther is in search of creating an innovative model to capture audiences.
Over the years, Luther has invested in political tours that have included Bill and Hillary Clinton, as well as former First Lady, Michelle Obama. On the music industry side, Luther has invested in the careers of chart topping artists such as Swae Lee, Future, Ciara, Da Baby, ASAP Rocky, ASAP Ferg, Migos, Kendrick Lamar, B2K, and countless others. In addition to politicians and musicians, Luther also invested into the careers of major sport stars such as Sterling Sheppard, Jamal Adams, and Buster Skrine.
The global Entertainment industry accounts for nearly $60 Billion, mainly composed of live music at 50%. The lasting effects of the Covid19 pandemic will take years to fully recover; however, it is entertainment entrepreneurs such as Luther Gales III, who are leading the charge of innovating the medium in which the consumers receive it. For fans of live concerts, the euphoria of once again being able to see their favorite artists perform is a breath of fresh air. But for concert promoters like Luther Gales III, the crowds are coming back; however, will the support and ticket sales resemble the pre-pandemic days.
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