How Much Money Is Being Lost?
The Jonas Brothers are going through some internal problems right now. But how many lives were affected by their canceled tour, and will the brothers have to pay all that money back?
But the fans weren't the only ones who were affected by the canceled tour, and it looks like the band could be on the hook for millions. Venues and promoters have already spent money to promote the tour, and it's possible they are going to want that money back.
"It really depends on how their [insurance] policy is tailored, but generally speaking, there are cancellation policies that cover things beyond their control," entertainment industry insurance broker Carol Thornhill told MTV News. "If they canceled because they had a rift within the band, that's something that's not insurable, because that's within their control. There is no insurance that is going to respond to something that is within their control."
Insurance policies for bands cover almost anything you can imagine, including natural disasters, power outages and even kidnapping. But if the Jonas Brothers canceled the tour because of a breakup, they could be responsible for every cent spent on the tour so far.
This band isn't the first act, and certainly won't be the last, to cancel a high-profile tour. Lady Gaga's "Born This Way Ball" was canceled earlier this year, which put a lot of people out of work. However, the singer had suffered an injury and was deeply apologetic about having to disappoint her fans. Her cancellation would have been covered by insurance.
As for the Jonas Brothers, it's hard to tell what is in their future. But they probably didn't think about what a canceled tour could mean to their bank accounts.
"I think you could assume that this is going to cost them. When an artist just doesn't have a particular reason [for canceling a tour] that's listed within the policy form, the insurer can deny it, and there's a good chance they will," Insurance Journal's Andrea Wells told MTV. "The promoter can certainly appeal that, and it can go to the legal system — that definitely happens in most cases. And who knows what will happen after that."
The Jonas Brothers need to focus on what is important to them right now, and apparently there are things much more important than money.
Photo credit: Ryan/WENN.com