Bloomberg News

Sandy Concert Raises $30 Million From Tickets, Sponsors

December 13, 2012

Last night’s concert to benefit victims of Hurricane Sandy raised $30 million in ticket revenue, sponsorships and corporate donations, according to the Robin Hood Foundation, which organized the event.

The group is counting donations made by telephone and over the Internet, according to Patty Smith, a spokeswoman for the organization. A more complete tally will be published by about Dec. 17, she said.

The show at New York’s Madison Square Garden brought together some of most popular U.S. and British acts, including Bruce Springsteen, the Rolling Stones, Paul McCartney, Billy Joel, Bon Jovi, the Who and Eric Clapton, to raise money for victims of the October storm. President Barack Obama has asked Congress for $60.4 billion to pay for damage caused by Sandy.

Additional funds will be raised through merchandise sales, auctions of autographed items, CD and DVD sales, as well as downloads of songs on Apple Inc.’s (AAPL:US) iTunes, Smith said.

“Those will take longer to come in and compile,” Smith said. Before the concert, the Robin Hood Foundation had raised $15.7 million for Sandy relief and granted $14.8 million to 140 organizations, she said.

The concert website, 121212concert.org, lists sponsors including General Electric Co. (GE:US), Samsung Electronics Co., State Farm, BlackRock Inc. (BLK:US), Time Warner Cable Inc. (TWC:US) and the Verizon Foundation.

To contact the reporter on this story: Rob Golum in Los Angeles at rgolum@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net


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