If you look at the big acts in the world today, people like Madonna, U2, Paul McCartney, I don't think they can meet the demand here with indoor arenas. It wouldn't make economic sense, particularly in the light of our weak exchange rate. For the same reason, however, he believes the arrival of arenas seating 15,000 to 20,000 people will change the face of the industry, as it will enable promoters to bring out smaller artists who would nevertheless not find it viable to perform multiple shows in the existing 6,000-seater venues, and would be risky to put on in stadiums. A stadium show is a helluva financial risk if you can't pull a capacity crowd. Every show is based on estimates, and some promoters have lost serious money by not reaching capacity.
Smaller venues are much safer.
The problem, he says, is the historical forces that have resulted in most economic power lying with about 5-million white people. The situation is a culmination of economic factors as well as what has been on offer over the last few years. We really have tried hard to get acts like Boyz 2 Men, Mariah Carey and Luther Vandross, who would draw large black audiences. You need a reasonable ticket price, but when you plug in the gross potential, minus expenses, it doesn't make economic sense for most acts. I would like to see more acts come our way that can entertain the masses, however.