Jonas Brothers Canceled Tour Costing Them Millions?
While we're waiting to find out why the Jonas Brothers canceled their tour and if they're headed for a breakup, find out how much money Kevin, Nick and Joe Jonas could lose for the cancellation. Millions.
In addition to the possibility of losing fans after cancelling their tour, the Jonas Brothers could stand to lose a lot financially.
Millions of dollars, in fact.
The news of the JoBros' sudden cancellation two days before their tour kick off date came as a shock to many, with a rep citing "a deep rift with the band" as the reason.
Fans have been looking for answers--and getting none, unfortunately.
Now comes news that the 19-date tour cancellation likely wasn't covered under their tour insurance policy.
What's that mean?
Well, there's a lot of money at stake with the promoters and vendors involved.
Carol Thornhill, executive vice president at insurance broker Robertson Taylor, told MTV News, "It really depends on how their [insurance] policy is tailored, but generally speaking, there are cancellation policies that cover things beyond their control."
Calling the whole thing off because they're having artistic differences, however, is something they have control over, as she explained, "If they canceled because they had a rift within the band, that's something that's not insurable, because that's within their control...There is no insurance that is going to respond to something that is within their control."
Kevin, Nick and Joe Jonas' reps didn't respond to MTV News' request for a comment, nor did the site hear from the promoter, Live Nation.
Andrea Wells, editor in chief of Insurance Journal noted, "I think you could assume that this is going to cost them. When an artist just doesn't have a particular reason [for canceling a tour] that's listed within the policy form, the insurer can deny it, and there's a good chance they will."
She added, "The promoter can certainly appeal that, and it can go to the legal system--that definitely happens in most cases. And who knows what will happen after that."
Now would be a great time for some answers about why they canceled the tour, for sure.
Find out more about the Jonas Brothers' cancellation news and possible breakup below: