During an interview on SiriusXM’s Hip Hop Nation, Cardi B discussed her financial situation as it relates to the Coachella Music Festival. The rapper may end up losing a lot of money on her double weekend show because the stage costs so much to setup.
During the interview she admitted she didn’t understand a lot of what she was getting into during the contract signing. She said “I have to invest so much money on my stage set, my own money that I gotta go to Wells Fargo and write a check that it’s crazy. Like, almost $300,000.”
And what’s Coachella paying her for the performance? $70,000 per show.
According to Digital Music News:
$70,000 x 2 = $140,000 in payments from the festival over two weekends. But $300,000 x 2 = $600,000 in costs, which leads to the $460,000 in losses. And that doesn’t even cover additional expenses like travel, rehearsal, and salaries for backup musicians, performers, and tour staff. All in, Cardi B is probably sinking more than half-a-million for the pleasure of playing Coachella.
Cardi also says that cancelling the show would be potentially bad for her future live performance opportunities, so she’s considering it an investment.
In other Coachella news, the festival was sued earlier this week for demanding that artists sign a contract that says they can’t do any shows within 1300 miles of the festival for five months (2.5 months before/after the festival).
That’s potentially a LOT of show money. Damn, Coachella…