Canadian singer Grimes will kick off the New Music Concert Series at Wizard World Philadelphia in June, with Melanie Martinez and more promised for future conventions
Sign up for IQ Index
The latest industry news to your inbox.
The comic-con giant will be hoping that its upcoming concert series can help plug a serious gap in its finances
By Jon Chapple on 21 Apr 2016
Wizard World, the comic-convention organiser which last week revealed that it is to diversify into promoting live music “to provide a great experience for our fans”, may have been spurred on by more practical considerations – namely, the need to create a new revenue stream after posting a US$4.25 million loss for last year.
ICv2 reports that Wizard World’s revenues declined in 2015 even as new shows were added: the New York-based company posted convention revenue of $22.9m from 25 shows, compared to $23.1m from 17 in shows in 2014, as the North American comic-con market begins to saturate.
There are parallels between Wizard World and SFX Entertainment in the live entertainment industry. Both companies expanded hugely in a short amount of time (the former by buying up independent conventions and SFX by acquiring independent promoters) and both have seen their revenues plummet in an equally brief window – although it remains to be seen how Wizard World’s finances will look at the end of 2016.
Wizard World’s New Music Concert Series will launch at Wizard World Comic-Con Philadelphia on 3 June with a show by Grimes, supported by Hana (pictured), at the Electric Factory – the first time a concert has accompanied a comic convention. Live music will form a part of seven other Wizard World cons in 2016.