Trocadero cites Ticketmaster fees in bankruptcy filing
Joanna Pang's burlesque house-turned-rock venue wants "a breathing spell from creditors"
Trocadero cites Ticketmaster fees in bankruptcy filing
Joseph N. DiStefano
The Trocadero Theatre, the Chinatown rock-and-roll venue where (as my colleague Dan DeLuca reminds me) Death Cab for Cutie recently played and Peter, Bjorn + John and James Blake are scheduled for shows in the next couple of weeks, and where (as a veteran editor reminds me) strippers Lili St. Cyr, Gypsy Rose Lee and Blaze Starr wowed 'em in the days before naked women danced free on the Internet, has filed for bankruptcy protection.
Joon Associates Inc. and its President, Joanna Pang, asked for court permission to reorganize the Troc, lately a rock-and-roll concert venue, today in US Bankruptcy Court in Philadelphia "to obtain a breathing spell from creditors while it negotiates a restructuring of its debts" according to the petition (US BC E.Pa. 11-16432).
In her filing, Pang notes the high cost of cutting Ticketmaster a share of the proceeds for every show in the face of declining sales, along with declining ticket sales and unrelated litigation costs, for a cash flow squeeze that has started to delay workers' paychecks. Since 2008 the Troc has paid Ticketmaster $3 per ticket for every ticket under $10, up to $8.50 on tickets above $50, according to the filing. Sales through Ticketmaster have fallen under that contract, since it's cheaper to buy them in person at the Troc box office, according to Pang's statement. "Other ticketing agencies" could do the job cheaper, she added. Bankruptcy courts often allow cash-strapped companies to break contracts and negotiate cheaper deals. Ticketmaster spokeswoman Jacqueline Patterson didn't immediately return a call seeking comment. The Troc grossed $2.3 million in 2008 and $2.1 million in 2009, according to the filing.
Ticketmaster's greed knows no bounds.— Michael S.- Man, there are so many other cheaper ticketing options. Why would anyone go w/ Ticketmaster?— F. Harry Stowe
Comment removed.- Bummer...I saw so many great shows there over the years. I love Johnny & Brendas and R5 productions, but they really put a dent in the Troc's buisness. Not to mention World Live Cafe and the TLA. Hope they can work things out.— freesamuel
- Where will Better Than Ezra play?— Lord Baltimore
- Save the Troc!— SoundGround
- Ticketmaster more or less has a lock on the more popular venues. There are other smaller upstarts but there really is no major competition for them to work against. Ticketmaster has no reason to lower their fees. Pearl Jam boycotted Ticketmaster for a number of years and finally gave in to allow their fans access to more shows. As far as the quality of the shows at The Troc, I have gone less and less to events over the years. I am no longer 21 so maybe the market that they are going after is not in my age bracket, but I still love going to this place when I can.— mkauffman1973
- Great venue with a lot of history. I think freesamuel hit it on the head. The Troc can't get the acts that sell tickets because of competition.— MikeP
That fire trap should be closed!— Ben Fan- start your own band & play, set up your own shows- your parent's basement, out in public, in a park, coffee shop. Ticketmaster must be put out of business!!! before they put cool theaters (like the Troc!) & other venues out of business.— Howie FelterSnatch
- In the 90s, it may have been the best small-mid sized club to see a band. So many memories....
- Always loved the Troc. I saw the Dead Milkmen's last show, Jeff Buckley in his only Philly appearance, Big Bad Voodoo Daddy, Cake, Bad Brains, and probably 100 other great bands there. Always a great place to see a show, lots of character, not a bad seat in the house.— General Turgidson
- love the Troc - although I am convinced I have permanent hearing damage from the Dinosaur Jr./My Bloody Valentine show I saw there in 1991— bingbangbong
- Comment removed.
- the problem most likely is that the troc has a long contract with ticketmaster to provide ticketing and can't get out of it just yet...Also Livenation(ticketmaster's owner) owns the TLA and Electric Factory which makes it kind of tough to use them for ticketing and also have to compete with them for small acts (TLA) and semi-big acts (the electric factory).— abctickets
