Facing the Music
The Britney Economy
Something is out of sync. When the Rock and Roll Hall of Fame and Museum holds its glitzy induction party at the Waldorf-Astoria this month, it expects to raise more than $3 million with tables that cost as much as $100,000 apiece. If last year’s ceremony is any guide, upwards of 300,000 television viewers will tune in when such stars as Madonna, singer-songwriter Leonard Cohen, and British Invasion band the Dave Clark Five (“Catch Us If You Can”) are inducted.
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Rock Hall C.E.O. Terry Stewart says the shrinkage reflects the natural decline in attendance that follows opening-year buzz. He adds that the 13-year-old museum, which cost $93 million to build and houses items like James Brown’s tuxedo jacket, has also had trouble courting locals: They drifted away once the museum cut back on freebie tickets. (Local adults now pay $18, while out-of-towners shell out $22.) Still, the museum has eked out a profit each year with belt-tightening and other moves. Early on, executives sold naming rights to the theater and plaza for $6.8 million. In 2007, the museum canceled the C.M.J./Rock Hall Music Fest, a costly two-year-old event that had attracted 100 acts, including the Pixies and Grandmaster Flash.
Stewart says he has several plans to boost attendance, ranging from a new exhibit featuring Janis Joplin’s Porsche (now on loan from her estate) to bringing the induction show to Cleveland in 2009 and every three years after that.
Rock on.
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