A brand new report has uncovered how a few of the largest named in music utilized for funding meant for small venues throughout the COVID pandemic. Right here’s the most recent.
The Shuttered Venue Operators Grant (SVOG) was a grant meant to maintain impartial venues afloat throughout one of many worst downturns in current historical past. It was administered by the Small Enterprise Administration, which handed out $14.5 billion to venues, together with theaters, museums, performing arts facilities, expertise businesses, ballets, operas, and plenty of smaller stay efficiency venues. As a result of the SVOG is a grant, certified candidates may obtain as much as $10 million with no obligation to repay it.
Insider investigated a few of the SVOG recipients and located a few of the largest names in music. Submit Malone obtained $10 million, as did Chris Brown. Lil Wayne obtained ag rant of $8.9 million. The Smashing Pumpkins obtained $8.6 million, whereas Nickelback obtained $2 million. The investigation recognized “dozens of companies and restricted legal responsibility corporations managed by high-profile musical artists” who obtained SVOG payouts.
The evaluation estimates greater than $200 million was despatched to big-name artists alone. A single financial-management agency in Los Angeles submitted grants on behalf of 97 artists, venues, and managers.
Who obtained SVOG payouts in accordance with this investigation?
- Submit Malone | $10 million
- Electrical Really feel (Submit Malone Supervisor) |$10 million
- Dre London (Submit Malone Agent) | $10 million
- Chris Brown | $10 million
- Steve Aoki | $9.9 million
- Slipknot | $9.7 million
- Lil Wayne | $8.9 million
- Smashing Pumpkins | $8.6 million
- Vampire Weekend | $8.3 million
- Korn | $5.3 million
- Melissa Etheridge | $3.9 million
- Usher | $3.1 million
- Frequent | $2.8 million
- Portugal. The Man | $2.25 million
- Becky G | 2.2 million
- Leann Rimes | $2 million
- Nickelback | $2 million
- Father John Misty | $1.7 million
Insider says it contacted greater than 60 of the grant recipients on the record to ask how they spent their funds. None of them shared detailed info of those who responded—and most didn’t reply in any respect. As a result of the SVOG is a grant, there have been only some restrictions on how the funds could possibly be used. They could possibly be used to pay workers, contractors, and even themselves.