So The Associated Students of the University of Arizona (ASUA) decided that a nice little concert would be fun. They even had a cute little name for it. Last Smash Platinum Bash. Since the Kanye West "Glow in the Dark Tour," packed the McKale Center's 14,545 seats with 9000 ticket buyers, the President of the University, Tommy Bruce, decided to make it a "top priority during his second term to rekindle a stadium concert."
The student promoters’ education began with an unusual pairing of acts and strange method of financing. University of Arizona to Host 1 Million Dollar Concert Featuring Jay-Z and Kelly Clarkson reports that while the cost to put on the show rose to above $1 million, ASUA was working on a zero-based budget in which all expenses will be covered after the concert in the form of ticket sales and other revenue. What could possibly go wrong?
JAY-Z/KELLY CLARKSON CONCERT A BUST
*An Arizona concert featuring Jay-Z and Kelly Clarkson was a financial failure, according to organizers.
The Associated Students of the University of Arizona (ASUA), who put on the concert, paid Jay-Z $750,000 to co-headline the event with pop star Kelly Clarkson. While Jigga praised the odd pairing, telling MTV it reaffirms that "good music" is neither black nor white; it wasn't enough to sell tickets.
According to estimates listed in the Arizona Daily Star, the student union gave away over 4000 tickets to the Last Smash Platinum Bash in hopes of securing marketing deals with newspapers and radio stations. However, the show still posted a loss of $917,000.
Did the university fire anyone or demand that the promoters add the loss to their student loans? Well, no. In teaching the young adults both personal and business ethics, it allowed the deficit to be made up to be made up not by the promoters but by the University Bookstore. The Bookstore, a monopoly on campus, seems to be operating at such a large profit margin that it had the excess funds at its disposal. A bit like a trust fund in which the well-to-do can fall back on in times of difficulty instead taking personal responsibility for their failures.