We’ve been writing that the major concert promoters are renegotiating every deal for shows in 2021. In a memo to talent agencies this week, Live Nation has attached real numbers to how they intend to approach the concert biz next year.

For starters, artist guarantees are being cut by 20% from 2020 paydays; shows canceled due to poor ticket sales will result in the artist receiving 25% of the guarantee; and if the promoter cannot use the full capacity of a venue, the agreement can be terminated and the artist will refund any money paid.

Among other changes reported by Rolling Stone and others: Promoters will set ticket prices, and artists have to pay for their own airfare and accommodations as well as cancellation insurance.

For festivals, artists will receive a deposit of 10% one month before the festival; all artists will be required to allow their performance to be filmed by the festival; artists may not promote brands onstage or in their productions; and the merch split is now 30/70 with the majority going to an artist within two weeks following a festival.