Jay-Z Concert Generates Nearly $1M Loss for University of Arizona
It doesn’t look so bright for future students of the University of Arizona.
The Last Smash Platinum Bash concert took place at the Arizona Stadium in Tucson and featured an all star line-up of Jay-Z, Kelly Clarkson, Third Eye Blind, and other musical groups. The concert hoped to build on the success of the Kanye West “Glow in the Dark Tour,” which ASUA brought to the UA McKale Center one year ago. ASUA president Tommy Bruce believed bringing in top named platinum recording artists would ensure success and profits.
Only not so much! Not only did it not build on the success, it lost $917,000. A sum that will be costing students for years to come. To recover the loss, a large portion will come from an emergency fund. Another $114,000 a year will be deducted from ASUA’s share of profits from the university’s bookstore, its main revenue source.
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