@RuncieDan

Founder of Trapital: where business shapes culture

 San Francisco, CA
trapital.com/summit/2026
Joined March 2009
  • Tweets14.8K
  • Following445
  • Followers33.2K
1.9KMedia
Coachella’s dilemma is this: Big artists no longer need festivals. But festivals cost more money than ever to run. Higher prices. Fewer A+ level stars. Tougher product to sell.
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Valkyries merch and jerseys everywhere in San Francisco today. Impressive level of fandom for a 2 year old franchise.
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More fans are buying concert tickets later and later, up to the last minute. Kevin Shivers, co-president of music at The Team, talks about this trend and why it's happening.
Dan Runcie
@RuncieDanOct 16
New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit. 03:10 From mailroom to co-president 09:25 Repping Tyler, the Creator 11:33 Festivals squeezed by stadium tours 16:54 Why fans are buying tickets later
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No Coachella 2027 lineup announcement yet. Last year it was announced Sep 16. Still early, but it’s harder than ever to secure the biggest artists.
Dan Runcie
@RuncieDanApr 8
Coachella’s dilemma is this: Big artists no longer need festivals. But festivals cost more money than ever to run. Higher prices. Fewer A+ level stars. Tougher product to sell.
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The money that artists make in stadiums and arenas is hurting music festivals. Kevin Shivers, co-president of The Team, breaks it down:
Dan Runcie
@RuncieDanOct 16
New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit. 03:10 From mailroom to co-president 09:25 Repping Tyler, the Creator 11:33 Festivals squeezed by stadium tours 16:54 Why fans are buying tickets later
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New episode with Kevin Shivers, co-president of music at The Team. He joined Billboard's Taylor Mims at our Trapital Summit. 03:10 From mailroom to co-president 09:25 Repping Tyler, the Creator 11:33 Festivals squeezed by stadium tours 16:54 Why fans are buying tickets later
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The top 10 artists in the world according to Chartmetric's Global Rank: 1. Taylor Swift 2. Drake 3. Rihanna 4. Justin Bieber 5. Bad Bunny 6. Bruno Mars 7. Ariana Grande 8. Shakira 9. The Weeknd 10. Karol G
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Tubi's deal with @KevOnStage includes: • capital to create shows • ownership of the IP • creative control • backend participation It's rare to get all four in a Hollywood deal.
Dan Runcie
@RuncieDanOct 8
New Trapital episode with @KevOnStage! We covered it all on stage at this year's Trapital Summit: 02:00 Ownership and creative control 07:29 Why touring is still his biggest revenue source 12:23 Live Nation and Ticketmaster economics 17:23 Why he tours in churches 21:02 Economics for comedians and talent 23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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The TV shows are the least lucrative part of @KevOnStage's business. Touring is still his top revenue stream, but all the other streams: TV, Tubi, Patreon, and socials have continued to grow.
Dan Runcie
@RuncieDanOct 8
New Trapital episode with @KevOnStage! We covered it all on stage at this year's Trapital Summit: 02:00 Ownership and creative control 07:29 Why touring is still his biggest revenue source 12:23 Live Nation and Ticketmaster economics 17:23 Why he tours in churches 21:02 Economics for comedians and talent 23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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More artists than ever can sell out stadiums and gross $10M+ per show. This has reshaped the power dynamics. These artists are more likely to view music as promotion for touring. They are less likely to headline major festivals. Their opportunity cost is higher than ever.
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"I can make more selling 300 tickets in churches than selling 1,000 tickets in a traditional venue in NY." @KevOnStage shares why he's prioritizing churches for his next tour.
Dan Runcie
@RuncieDanOct 8
New Trapital episode with @KevOnStage! We covered it all on stage at this year's Trapital Summit: 02:00 Ownership and creative control 07:29 Why touring is still his biggest revenue source 12:23 Live Nation and Ticketmaster economics 17:23 Why he tours in churches 21:02 Economics for comedians and talent 23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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KevOnStage said his agent took 10% to make calls he could make himself. So he parted ways with the agent and started going direct. Now @KevOnStage wants to do the same elsewhere in his live touring business.
Dan Runcie
@RuncieDanOct 8
New Trapital episode with @KevOnStage! We covered it all on stage at this year's Trapital Summit: 02:00 Ownership and creative control 07:29 Why touring is still his biggest revenue source 12:23 Live Nation and Ticketmaster economics 17:23 Why he tours in churches 21:02 Economics for comedians and talent 23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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New Trapital episode with @KevOnStage! We covered it all on stage at this year's Trapital Summit: 02:00 Ownership and creative control 07:29 Why touring is still his biggest revenue source 12:23 Live Nation and Ticketmaster economics 17:23 Why he tours in churches 21:02 Economics for comedians and talent 23:56 Issa Rae, Tyler Perry, Kenan Ivory Wayans
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The first $60M is the hardest. Primary Wave CEO Larry Mestel compares raising $60M in 2006 to raising $2.2B in 2026.
Dan Runcie
@RuncieDanSep 30
I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all: • New $2.2B fund • How Bob Marley's earnings grew 4x • Primary Wave’s acquisition of Kobalt • Is there too much capital in music rights? • Does Primary Wave pay too much for catalogs?
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The Migos - Hotel Lobby meme is fun use of AI but I hope people don’t stop doing the big viral dance or song videos. Black Beatles, Harlem Shake, etc. People had their own outfits, full choreography, everything.
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Sia sold 50% of her music catalog for $180M. The valuation may seem high at $360M but her music streams well. Five songs with 2B+ Spotify streams. Sia wrote Rihanna's "Diamonds" which has 2B+ streams. Strong portfolio across the board.
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"We are less sensitive to multiples than most of our competitors." Primary Wave CEO Larry Mestel shares his approach to buying music catalogs. Critics say that Primary Wave spends too much on catalogs, but Larry is willing to pay higher multiples for iconic music.
Dan Runcie
@RuncieDanSep 30
I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all: • New $2.2B fund • How Bob Marley's earnings grew 4x • Primary Wave’s acquisition of Kobalt • Is there too much capital in music rights? • Does Primary Wave pay too much for catalogs?
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Strong praise for this episode 💪🏾
Dan Runcie
@RuncieDanSep 30
I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all: • New $2.2B fund • How Bob Marley's earnings grew 4x • Primary Wave’s acquisition of Kobalt • Is there too much capital in music rights? • Does Primary Wave pay too much for catalogs?
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Dan Runcie retweeted
Dan Runcie
@RuncieDanSep 30
I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all: • New $2.2B fund • How Bob Marley's earnings grew 4x • Primary Wave’s acquisition of Kobalt • Is there too much capital in music rights? • Does Primary Wave pay too much for catalogs?
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I sat down with Larry Mestel, CEO and Founder of Primary Wave. We covered it all: • New $2.2B fund • How Bob Marley's earnings grew 4x • Primary Wave’s acquisition of Kobalt • Is there too much capital in music rights? • Does Primary Wave pay too much for catalogs?
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Last year, Coachella's lineup was announced on September 15. Almost seven months in advance. No announcement yet for 2027. It's still early, but past last year's date. Could be any day now.
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