Third Man Records Lays Off Employees – Faces $1 Million in Debt
The Jack White-owned Third Man Records is facing some financial difficulties. This is the news coming out of the company’s Nashville headquarters in the SoBro neighborhood just south of downtown where they operate a record store, venue, as well as house label offices.
Third Man Records has been forced to lay off seven employees according to the reporting of Nate Rau of The Tennessean, and also owes an undisclosed creditor $1 million according to a Secretary of State filing, with much of the property and assets of the Third Man Nashville installation named as collateral. The layoffs affect mostly assistant positions, as well as event personnel, but do not affect and of Third Man’s Detroit operations. Jack White is originally from the Detroit area, but opened the Nashville office and retail store in 2009 as a base of operations for the label. The company then opened a retail store and pressing plant in Detroit in 2015.
The layoffs were made to streamline operations, and 28 employees still remain in the Nashville office according to executive Ben Swank. “These decisions occurred in the name of trying to do business in a more streamlined fashion and were not made lightly or easily,” said Swank.
The layoffs come at important time for Third Man Records. Jack White is getting ready to release his latest record Boarding House Reach on March 23rd. Third Man signee Joshua Hedley also has a new record Mr. Jukebox coming out April 20th. Other Nashville-based signees to the label include Lillie Mae and Margo Price, who both released records in 2017. The company also releases many smaller vinyl projects and 7″ releases.
Despite great press buzz for Third Man Records artists and high-profile promotional events such as launching a record player into space, some of the releases for Third Man artists struggle to sell in significant numbers. Margo Price’s last record All American Made was named the #1 record on many 2017 end-of-year lists, and she’s made many high-profile appearances on late night TV shows. But as of January, All American Made had only sold just over 18,000 copies.
Gina
March 16, 2018 @ 9:40 am
Wow. I am shocked, by this news and by Margo’s Record Sales. I thought they were doing great. The press would have you believe that anyway. Third Man was one of the reasons I wanted to move to Nashville a few years ago. Shocking.
OMFS88
March 16, 2018 @ 9:41 am
THERE IS A “SO BRO” NEIGHBORHOOD IN NASHVILLE?!?!?!
Gina
March 16, 2018 @ 9:43 am
Yep.
at
March 16, 2018 @ 10:58 am
SoBro = South Broadway
Anonymous
March 16, 2018 @ 9:42 am
I know a guy in a band that had a record on Third Man. I thought it would be a step up and meant his band was going to the “next level,” whatever that even is anymore. At the very least, I thought Third Man would be an improvement over smaller labels with shallower pockets, and that his band would get some increased visibility, get on bills with bigger bands, or get some tour support or festival gigs –
maybe even sell some records!
In reality, it didn’t make any discernable difference, and not only did the release not seem to do any better than it would have on a smaller label (maybe worse), it seemed like it got buried and might as well not even exist. I think musicians tend to have a grass is greener mentality and always think somebody else is doing better than they are, so the idea that association with somebody as successful as Jack White is going to help is powerful, but the reality is “nah, not really”
billford
March 31, 2018 @ 9:55 pm
Kelley?
Jacob W.
March 16, 2018 @ 10:59 am
You can’t have a business focused on art instead of profit.
Travis
March 16, 2018 @ 11:25 am
Who did that? The simple fact is Margo Price can’t sing or write. She’s boring and mediocre and that is being generous. The rest of the label including Josh Headley are the same- all hype and publicity. As Kyle pointed out, they spent a fortune trying to cram these “artists” down everyone’s throats (including utilizing the most bland form of PC liberal politics) but nobody was buying. There are nice people at Third Man but they know jack shit about country music.
Kyle S
March 16, 2018 @ 12:33 pm
I couldn’t agree more. In my opinion their roster of artists in all genres is terribly weak. They rely on marketing for these artists because the are “different” and “unique” but fail to look into what they are actually marketing: the music.
Chinese Steel
June 17, 2018 @ 2:47 pm
Margo is okay. Headley is good. They’re a more traditional western country sound and their singing is fine for that genre. Never was a market for country at Third Man Records. When Seasick Steve did a Country number everyone booed and said “More Stomp!” in the audience. So what? A well worked Dead Weather or Raconteurs Album would sell millions of units. If they cared to tour together.
Kevin Smith
March 16, 2018 @ 12:36 pm
Margo as a recording artist is blahhh to me. She is decent live tho. What he meant by art, is all the colored vinyl “rare” limited edition releases, expensive box sets nobody buys and 45s. These are what Jack pumps out, to the tune of little profit.
As for Hedley I’m all in. Said my piece on why I believe he’s legitimately good. Always gonna be folks who will disagree.
DopeOhBwow
March 17, 2018 @ 7:14 am
That’s ridiculous. What about museums?
Jacob W.
March 19, 2018 @ 6:49 am
Museums work off government grants. Gosh, they are not intended to be a profit driven business
The Senator
March 16, 2018 @ 11:11 am
That’s a shame, I’ve loved the output of the label and many of the projects that Jack White pursued through it. Always wanted to go see the store in Nashville, too.
Clyde
March 16, 2018 @ 11:26 am
Trigger, what would be a good comparison to Margo Price’s 18,000 over the same period of time? That is, something that sold much more.
Trigger
March 16, 2018 @ 12:46 pm
The Turnpike Troubadours released their latest record “A Long Way From Your Heart” on the same day as “All American Made.” Also taken from the early January numbers, they have sold 25,300 to Margo Price’s 18,300. That’s a difference of 7,000 albums, or 38% more albums for Turnpike. But also consider that Turnpike has had not nearly the promotional muscle Margo has had behind her. Margo has been on major late night shows half a dozen times now, including Saturday Night Live. She was also out on bigger tours like Chris Stapleton before Turnpike was (though they’re now getting those opportunities). Also Margo’s album was #1 on Rolling Stone Country, American Songwriter, and half a dozen other year-end-lists. Streaming numbers are also important too. Turnpike’s numbers are over twice that of Margo’s for the same albums.
Let’s not make this all about Margo though. Third Man is a diverse business with many artists and revenue streams. The Margo numbers were simply presented to offer a bit of context. The reason folks think Margo is blowing up is because she has a huge promotional budget (which costs money), and she’s all over the place. But it’s just not translating into sales. This is true for a lot of their artists though. Third Man is seen as “hip” and the media loves to talk about them, but the sales just aren’t there. Chris Stapleton probably spent 1/4 as much on promo as Margo has, and his latest record has sold 338,000 copies.
Isaac
March 16, 2018 @ 1:14 pm
I promise you, the promo budget for the average mainstream country artist is at least 3x what Margo’s is. Stapleton’s is about 10x.
Trigger
March 16, 2018 @ 1:37 pm
Chris Stapleton’s media strategy for his last two releases was to not have a media strategy whatsoever.
Stork
March 16, 2018 @ 3:48 pm
I’ve got word from an inside source close to Dave Cobb team that Stapleton was unhappy with his mercury contract and released 2 phoned in records from his back catalog to satisfy those obligations. He does have new material, I don’t know whether or not it is good, but it will not be released under his current label when we do see it.
Stan
March 17, 2018 @ 7:05 pm
By seeking to give ‘context’ you did the opposite by concluding your piece with poor research using sales figures from 2 1/2 months ago. You could have just as easily ended it saying her first album has sold upwards of 80k, a healthy number for an indie by anyone’s standards.
Trigger
March 17, 2018 @ 7:25 pm
“Midwest Farmer’s Daughter” hasn’t sold anywhere close to 80k. Try just shy of 53k. Whomever told you that probably meant 80k total between both albums. Better to have older stats than wrong ones. The reason I don’t have newer numbers is because Margo hasn’t sold enough records recently for the database I can access to update.
Stan
March 18, 2018 @ 9:26 pm
I don’t know what “database” you are using but as of the week ending March 9th it has sold 65K in pure album sales and 72K in sales that take in account album and track streams (the methodology that determines the Billboard Top 200) according to Nielsen/ Sound Scan.
Extrapolating those numbers and we have near 80k as a current number.
All American Made is at 25K
You are of course entitled to your opinions but not basing them in fact only does you a disservice.
Trigger
March 19, 2018 @ 2:53 pm
Ah ha, so “upwards of 80K” has now turned into 72K with album equivalents.
Look, tell yourself all day that nothing is wrong. Tell yourself Margo Price’s sales are stellar. Tell yourself laying off employees is no big deal, and a million-dollar creditor dilemma looming over the Nashville office is nothing to worry about. Full speed ahead! Or take a realistic look at the situation, recognize the challenges, and lower your shoulders to meet them, and succeed. Honesty with one’s own challenges and shortcomings goes a long way towards success.
Rachel Marie
March 16, 2018 @ 12:28 pm
Sales are so difficult in today’s digital age. The way to structure a label has to be completely revamped.
CHINESE STEEL
June 17, 2018 @ 2:42 pm
Subjective opinionating with charts and grids in irksome stalkerish fashion do not an astute gentleman make.
Corncaster
March 16, 2018 @ 1:05 pm
Do we know who bought those records? Jack White is known for combining edgy new with retro tech. So you get weird sh*t on, say, vinyl. Hipsters can rejoice, but their weird jones for collectible one-offs is not enough to float the boat. Boomers could help (they’re feeling awfully nostalgic these days), but they’re not going for Jack’s angry edgy aimless art school schtick or the second-rate novelty acts he’s signed on. I’m sure this is a minority view, but perhaps Jack’s vision has been too narrow.
FeedThemHogs
March 20, 2018 @ 7:03 am
Just because it’s a minority view, doesn’t mean its the wrong one. I agree
Jeff
March 16, 2018 @ 1:15 pm
Margo Price is beautiful, talented, old-school, and has great presence on stage. Way to liberal yahoo this time around. 1st LP and Buffalo Clover are great. Maybe Matt should write more songs next time.
King Latifa
March 16, 2018 @ 3:14 pm
They should switch to becoming an all analog mumble trap label. I’m sure jack white can drop some barzzz.
North Woods Country
March 16, 2018 @ 4:25 pm
I give up.
Chip
March 16, 2018 @ 7:02 pm
When Third Man and Margo Price pressed lefty politics, it turned me off. I’m sure I’m not alone. Shame.
Scott
March 17, 2018 @ 6:55 am
Layoffs are never good, but let’s be real here. They laid off 7 interns and assistants. No core employees. Debt’s not great but is certainly not the end of the world if you are still cash flow positive. I imagine opening up a brand new record pressing plant in Detroit wasn’t cheap. I find it a little odd that you frame all of this in the context of Margo’s sales. You’ve been so down on her though so I guess it’s just par for the course for SCM.
Trigger
March 17, 2018 @ 8:22 am
Saving Country Music is not the originator of this story. Nate Rau of The Tennessean is the one who investigated and reported all the information, as was said in the article, and I took his reporting and gave a little more context. Since then, The Nashville Scene, Billboard, and other periodicals have picked up this story as well. This is far from a hit piece on Margo Price and Third Man, or exclusive to Saving Country Music. Many others see this as an important story as well.
I agree laying off seven employees is not a huge deal, but $1 million in creditor debt is. Understand, this isn’t just normal balance sheet debt like many companies (and individuals) carry. This is debt that has gone into default, and creditors are actively seeking to resolve that debt as they have reported to the Tennessee Secretary of State. That means that the equipment, merchandise, facilities, etc. of the Third Man Records location in Nashville COULD be subject to seizure and liquidated to resolve that debt. That doesn’t mean this will happen. That is clearly why Third Man is cutting employees and such to become more efficient. But it is certainly possible. If this was happening with Bloodshot or Thirty Tigers or New West, of course I’d be covering the story. It would almost be irresponsible not to, especially after running stories about all the debt load of Cumulus and IHeartMedia over the last few years, including about iHeartMedia’s bankruptcy this week.
I find it hard to say that I “framed” this story around Margo Price when she isn’t mentioned until the very last sentence of the last paragraph. I agree this should not be a Margo Price story. That said, I think her sales set a good context of how Third Man Records has set up a facade of success and influence through favorable press coverage, while struggling behind-the-scenes, and verifiable by numbers.
CHINESE STEEL
June 17, 2018 @ 2:50 pm
Confirmation bias will swing the public around once they realize more lefties are more right about politics than the Right knows about.
Biscuit
March 17, 2018 @ 7:46 am
Trig, you saw Margo live previously and at Luck this weekend, so you know she is a talented musician and respected by Willie and her peers. So what is she not doing, in your opinion, that she doesn’t merit more positive coverage?
I have sensed a bit of dislikefor TMR on this site as well. I second the previous comments that a 7 person release of college interns and entry level assistants doesn’t seem like news, although I am sorry those folks were displaced. I wouldn’t be surprised if the 1m loan isn’t paid back shortly either as Jack has a new album and sold out tour, but that repayment won’t get any coverage by the media when it is paid because it’s not as sexy as painting a bad news scenario.
On the positive side, you finally acknowleged the existance of Lillie Mae Rische on the roster. I was hoping you’d review her record “Forever and Then Some” at some point. She has a solid music reputation in Nashville not disimilar to Josh Hedley and is a great fiddle player too. Great album, check it out when you buy Josh’s record. Now that youve seen Josh live at Luck, you can describe what you thought of him to people describing him as as a ‘hipster’. Here’s hoping for more balanaced TMR coverage in the future.
Trigger
March 17, 2018 @ 8:35 am
I saw Margo Price live on Thursday, and I thought she did an excellent job sitting in with Paul Cauthen, Lukas Nelson, and her own set in Willie Nelson’s chapel. I’ve always said that Margo Price is excellent live and have seen her many times, but struggles to capture that energy in the recorded context. This isn’t me attacking her, it’s me giving my feedback as a critic in hopes she can improve in the studio in the future so her record sales can match those of her contemporaries who are setting the pace in independent country. I’ve also been a big supporter of Joshua Hedley, who also played and probably put together the best traditional country set I’ve seen at SXSW so far. If I was somehow bias against Third Man Records, I wouldn’t have written five articles featuring Hedley just since he announced the release of his record. I only mentioned the “hipster” stuff with him in passing, and more as a criticism of my own readers and their careless, visual judgements of Hedley than as a dig at Hedley himself.
As for Lillie Mae, I liked her record, but just like with Margo’s records, I felt the production left her voice somewhat exposed, and her songwriting unenhanced by the recording process. I still like the record, but it was one of those where I would have more negative to say about an album I have a generally positive take on, and those albums I tend to not review because it just leads to confusion.
As I explained in a comment above, The Tennessean reported on this first, and since Billboard, The Nashville Scene, and others have seen this story worthy of coverage. It’s not the 7 employees being laid off, it is the creditor debt that could result in the seizing of assets in Nashville that is troubling for Third Man.
I know it can be easy to say, “Well he just doesn’t like Third Man” and write this off. But just like with Margo Price’s record production, I feel this is warranted information that needs to be shared, regardless of how it is received by certain elements of the public.
Vee
March 17, 2018 @ 8:34 am
Interesting, the writer of this article seems particularly obsessed with margo price and going in on her/her sales rather than reporting local news. I guess owing a relatively small debt and laying off a few low-level interns to strategize means we have to immediately blame the performance of one of the artists. I’m sure opening a Detroit location and record pressing plant has much less to do with the debt. this article might as well be titled “lets troll third man in the comments”. I appreciate the philosophy behind Third Man because they support music without money and power being the ultimate goal, and in disposable and dishonest times like the one we are living in, that is a miracle. For example, last year they put out a blues record by Todd Albright and it opened up a whole new world of music and history I never even knew existed. That’s powerful. They’re doing a good service for music and for culture, I hope this debt is taken care of and they can move forward.
Trigger
March 17, 2018 @ 8:54 am
What’s interesting is that three comments basically saying the same thing and posted at basically the same time have come in, which means there is a social media thread portraying this story in a bias manner, making people believe this is a hit piece on Margo Price when she wasn’t even mentioned until the last sentence of the last paragraph, or on Third Man Records, which is ridiculous seeing how this same story has been posted by numerous other major media outlets, including The Nashville Scene, which has given nothing but favorable press to Third Man over the years.
I’ve already addressed these concerns multiple times, but I will say this about the Detroit opening: As was stated in the article, the $1 million creditor debt—which is a big issue for the company—is specifically tied to the Nashville location. Now perhaps Third Man used payments they should have been making on the Nashville property to fund the Detroit expansion. But the debt itself is directly tied to the Nashville location. That is why it is Nashville employees getting laid off, and the Tennessee Secretary of Sate being notified. Likely whatever is going on in Detroit is self-sustainable. That is why they’re not enacting cost cutting measures there. Whatever is bleeding money is doing so in Nashville. I agree this shouldn’t be all about Margo Price. Third Man has a diverse portfolio of assets and revenue streams.
Third Man Fans
January 26, 2021 @ 11:34 pm
This well aged article is not about Margo, but, example artists were brought up then many have commented… So how can I resist?
If an artist isn’t expressing as well in studio as they do live, especially when Margo was getting raves from critics, maybe they needed a live album? I’m not inventing anything new in suggesting that, but many A-list artists weren’t well known until their re-recorded live versions hit the scene (Frampton “Frampton Comes Alive!” Cheap Trick “Live At Budokan”). This is no dig against either these example artists or Trigger’s criticism of their studio products — I’ve heard Springsteen was always better in person than his studio product.
Robert's Country Blog
March 17, 2018 @ 9:22 am
When I searched for “Jack White net worth,” the estimate I read is in the tens of millions. If that’s true, he should nut up and pay his bills… And that’s nothing against the people on his label or whatever music they make or about any political whatever.
Trigger
March 17, 2018 @ 9:43 am
Clearly Robert, by pointing this out you’re making it obvious that you really really hate Margo Price 😀
Robert's Country Blog
March 17, 2018 @ 11:08 am
I’ve seen her and Hedley both, and generally have a positive impression of both as live performers. That said, your article is very fair and rooted in facts.
CHINESE STEEL
June 17, 2018 @ 2:58 pm
Maybe Jack is tired of “Righty” politics and is selling his over-inflated real estate as soon as he can before the coming crash? So that when the ship starts sinking he’ll have set up shop in other safer markets with alot less bickering in the comment section. Seriously. Jack White can go anywhere and raise the rent.
Trigger
March 17, 2018 @ 9:46 am
Also, for all these folks who think I’m bias against Third Man Records or Margo Price for some reason, I was at Willie Nelson’s Luck Reunion on Thursday as part of SXSW and purposely sought out both Josh Hedley and Margo Price for coverage when other bands were playing simultaneously. You can see this on my Instagram feed, which was posted BEFORE this story:
https://www.instagram.com/saving_country_music/
Moses
March 17, 2018 @ 10:58 am
Sorry for what’s maybe a dumb question, but is there a searchable database of record sales? My surprise at Margo’s sales have me curious about other albums.
jessie with the long hair
March 18, 2018 @ 2:21 am
I’m not surprised at all by Margo Price’s sales numbers. What surprises me is that she has a record deal. She has a weak voice and delivery. Jack White has always been a hype man more than substance. He’s like the Big & Rich of rock music.
Tom R.
March 18, 2018 @ 1:38 pm
Anybody who has done what Jack White did for Loretta Lynn and Wanda Jackson deserves respect of any bona fide country music fan. Certainly none of the current “country” acts would have bothered. And even if the records weren’t particularly traditional country those albums won both artists a ton of press and attention and scores of new fans – and they’re pretty great albums besides.
jessie with the long hair
March 18, 2018 @ 2:58 pm
I was talking about Jack White as a recording artist. That’s why I compared him to Big & Rich. I do think he has championed some great artists. And I like the fact that he bought the Elvis record to preserve. I just don’t want to hear his music. Also, Loretta hated that record he did on her.
The Senator
March 19, 2018 @ 7:28 am
And I personally think he’s an excellent recording artist who has put out some of the better albums in the Rock field of the last fifteen years or so. Equating him to Big and Rich is…rather rich.
Bigfoot is Real (now that's country!)
March 19, 2018 @ 7:50 am
Here’s what Loretta Lynn had to say about the record Jack White “did on her” in a Spin interview… “Me and Jack, we made probably the most country record I ever had [2004’s Van Lear Rose], and it was a heck of a good record. It was cold country. I told him I had to get me a rock’n’roller to make a cold-country record.”
jessie with the long hair
March 19, 2018 @ 10:06 am
Yes, that is what she said to the media. Not what she said to friends and family. Country artists always paint a pretty picture for the press.
Bigfoot is Real (now that's country!)
March 19, 2018 @ 11:40 am
Here’s Loretta painting more pretty picture stuff for the press during her induction to Music City Walk of Fame… Lynn joked that some people in the crowd were wondering how she got together with White. “Nobody can separate us,” she said. “He’s been here in Nashville for a little while. He didn’t have to be here too long for you to understand that we needed him, really. Nashville needed Jack White. And I think he’s one of the greatest artists there is.” This was in 2015, 10 plus years after the release of Van Lear Rose. No mention of her choking back tears, however.
Maybe I have a misguided impression of Loretta Lynn as being a strong self-assured woman who is more than willing to speak her mind and is not cowed by the presence of the media.
Tom R.
March 18, 2018 @ 1:34 pm
I’m sorry to hear of the trouble Third Man is having but not surprised. Much as I love vinyl, there are only so many people willing to pay $15-20 for it and then an even smaller number willing to pay a lot more for “limited collector’s edition” vinyl releases of the same material but with colored vinyl, etc. most especially of newer acts who haven’t established themselves as major sellers. They probably have lost a ton just on these releases. I do hope TM recovers from all this and continues to be a leader in the vinyl resurgence and being a venue for new, non-mainstream country acts as well as rock.
Elle Woods
March 20, 2018 @ 6:50 am
This is a phenomenal thread of comments whereas most comment sections are truly horrible. My view on the downturn associateed with Margo price is simply that she chose to create a persona that was no longer relatable. When Midwest farmers daughter was released, I loved it. I bought it. I could deeply connect with her story as a mom and a daughter. Her songs were authentic and it was clear she was speaking from the heart. I was especially moved by Hands of Time. I saw her alive and even in a venue with terrible acoustics she could sing like nothing I have ever seen. But then she seem to get sucked into the Third Man Records bull$h1t machine. Her Twitter and Instagram account became almost nothing but extolling the virtues of getting stoned. She went from being highly relatable to being honestly almost comical. I could not believe that these were the choices she was making. I honestly don’t care if she gets stoned, by the way. A lot of artist to do. But does she need to talk about it every five minutes? She stopped being a mother and wife that I could connect with as a fan and started being just completely unrelatable. At this point, she seems to me like she just has an addiction to marijuana. How is that relatable to me? Answer: it’s not. When All American Made came out, I listened to it a couple of times on NPR. It felt contrived to me. Her song pay gap for example it seemed like she sat down and decided to write a song that she thought would connect with people politically. In other words it didn’t really seem to come from the gut; it seemed contrived. I am not saying that she has not faced pay gaps. I think any woman working in America has obviously faced pay gaps. But what I am saying is that her new album lacks a thread of authenticity that her first album had. Then after the Las Vegas shooting happened, she gave some good comments to the Washington Post. However, then she went on Twitter and proclaimed her self to be the “only” country music star who had the courage to speak out about the gun problem in America. Really? What about the artists who were there? I just found it really offensive that she was not even in Las Vegas when this massacre occurred, and yet somehow wanted to turn her comment to the Washington post as if she was the only one who had anything to say. Only problem is: it isn’t true. When you combine all this with the fact that she made a conscious decision to stop being relatable and start mostly talking about getting stoned, well it is not a surprise to me that people have not really run to buy her new record. Having said all that, she is a phenomenally talented singer. And I actually believe she is a great songwriter too. I hope that she can step outside of the bubble, and reconnect with the artist that she actually is. Because the artist that she actually is, is far more profound than the one she’s coming across as being right now.
CHINESE STEEL
June 17, 2018 @ 3:07 pm
They press them themselves now but if you look at the costs at United Record Pressing the price is not really that high. I don’t think they press a great deal of their other artists. It’s sold in a boutique style and they are more ornamentations to the Jack White brand than anything else. He could round up support if he needs to save Nashville with several singles by Brendan Benson or Allison Mosshart. There are many others.
Elle Woods
March 20, 2018 @ 7:13 am
What does Third Man press that people want to buy? How many people are clamoring for the Detroit Cobras or Pokey La Farge? To whatever extent they were counting on big sales for Jack White’s new record that seems unlikely. The “songs” I heard aren’t very good. Corporation isn’t really a song and I read it’s not the only one. They’ll have to give the album away with concert tickets to boost “sales” numbers. But, he’s good live. His tour will never be able to end in order to pay the bills. 😉
chriscatalena
March 22, 2018 @ 11:20 pm
hey trigger. i really enjoy checking your website, for what i consider a filterless voice in country music today. i read this story and thought about some logistics that may be why this debt is out there. it seems like this kind of debt, may stem from the scope of the tour about to take off. heard they have a whole lot of 18 wheelers with all the gear and tricks to boot and what not, and obviously going on a 2 year tour requires a pretty good sized staff, now needed for the road. since many of the shows are going to sell out at $50/ticket and be sized at 10-20,000 in some venues, its pretty good bet that this debt is a drop in the bucket and a cost of doing business so to speak. i would imagine this debt much like a buy in at a poker table, but instead of the odds being up in the air in a hold em game, the odds are definitely in mr whites corner that he will come out way ahead. just my 2 cents. pun intended. thanks for keeping it real. margo price is such an intriguing young lady, hope she sells more records than even the man jack white himself. never know. fingers crossed for decent country music to rise above the bull shit.
Stella
May 3, 2020 @ 10:58 pm
Did Third Man Records go bankrupt yet? I think even Margo Price bailed on them and that was before coronavirus.