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Bon Jovi could top profits of $125 Million this tour.

Bon Jovi could top profits of $125 Million this tour.

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Hey Jon, got a extra hundred million laying around?

 

Another very interesting news story from CNBC: "Make no mistake: Bon Jovi is big business, as we discovered during the band’s recent stopover here in Silicon Valley in the middle of its 100 city, global "Lost Highway" tour. Just ask the band’s manager, Paul Korzilius, who tells me during our exclusive visit, that this could be the year’s top grossing tour. "If you’re not number 1, you’re last!," he laughs.

Ten sold-out shows at the Prudential Center in Newark, NJ. 150,000 tickets sold. Twelve shows across Canada averaging 15,000 each. Thirty-eight more shows in North America with between 15,000 and 18,000 per show; coming up May 22, the band launches 22 European shows, all in stadiums.

And after that, they come back to the U.S. Baseball stadiums in Japan, rugby stadiums in Australia and New Zealand. As many as 2 million tickets sold. "We’re going to be over $40 million in expenditures on this tour," he says, "with sound, lights, video, buses, trucks, planes, hotels, salaries, per diems, sea freight, air freight, air charters, everything you can imagine. It’s an absolutely huge burn-rate. We burn $900,000 a week in an arena, and $2 million a week in a stadium, so that’s what we do."

So, I ask, "And you’re going to be profitable at the end of all this?" "Extremely profitable," he laughs again. Experts say the figure could top $125 million. Not bad for a few months of very hard work. Surprisingly, as much as Paul pays attention to the top and bottom lines, Jon Bon Jovi himself is watching every dollar very carefully. If Paul is the chief operating officer, or chief financial officer, Bon Jovi is his namesake band’s CEO, and the role really comes through when I asked him about the heavy investment the band is making on new technology used during the show."

Read the full article HERE.

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