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00:00All right we're here now with Jon Bon Jovi at Bloomberg Charity Day. Thanks so much for joining us. Tell us why it's so important for you to be here today. Well I appreciate that tradebook has invited me here and encouraged these traders to do their jobs so that the Bloomberg Foundation can share some of the profits for a variety of charities. One is our foundation the Jon Bon Jovi Soul Foundation and you founded that foundation 10 years ago during the housing boom when the economy is doing much better. Since then we've suffered an economic crisis . We've gone through a recession and we're still nursing this slow recovery. Tell me how your foundation's mission has evolved it has broadened since then evolved is that is the proper word . What happened under the guise Believe it or not of sports ownership just goes to show that we mined mined things. I began a foundation. And initially we were never anything to everybody . I was Robin Hood but I found focus one night seeing a homeless man sleeping on the streets of Philadelphia. And it hit me that it didn't matter if you were young or old rich or poor Republican or Democrat homelessness and the issue could affect anyone. And I didn't need a scientist to find the cure. So I met with a number of people but I met my mentor in Sister Mary Scullion in Philadelphia and she taught me many things about the issue and she said maybe you guys could save enough money to build one row home. And my attitude was how much will it take to rebuild the block. And she said we're going to become fast friends. And I wasn't being braggadocio but in truth what I was realizing was by changing a neighborhood we could change a city which could change a state to a nation. So we built 500 houses . The economic downturn happened and my wife had an idea one night that feeding people was the next issue under our umbrella . That really worked and again we could try to effect change . So we began the model of the J. J So kitchens in a church basement five plus years ago. We now have two operating restaurants and have fed sixty thousand people in the first five years out of a thirty three seat restaurant. Our mission is quite simple to serve respect and dignity to anyone and everyone who comes to our doors. But here's how we do it. We empower those who are in need. They have to participate. And if you or I were to go there we hope that you would donate enough to effect change directly by leaving twenty dollars you know to cover your meal and someone's next to you. So when you truly want to effect change it comes to a soul kitchen and you witness it. That's incredible especially the evolution of it. Speaking of effecting change you're an active supporter of Hillary Clinton you fundraise for her you've campaigned for her. Why should voters choose her over Donald Trump . Well let me just say this without sounding like I'm piling on because I don't think that that's the right thing to do at this point nor am I in a position to tell you why I'll tell you two things. Your vote is as important as the president of the United States vote. Everyone's equal first and foremost too. I think that there is a voice of America that needs to be heard . The only thing that came out of this election to me directly for me as a voter was that there's a disenfranchised fearful disappointed segment of our population who are saying where's my Nasdaq where's my pot of gold I'm afraid. And that voice needs to be heard I'm not confident that their mouthpiece is doing it in a way that's best. Getting that word out. So when experience comes into play I think Mr. RTS as all the experience that's necessary to do the job because the day after election day we all become Americans again and we have to come together over all of these issues the same. And then there's other issues that the Bernie's supporters have that are legitimate and those kids that are coming out of school without a job and saying maybe I'm not going to be a homeowner. That wasn't the battle cry of my generation. All of these voices need to become Americans again . So I support Mrs. Clinton because I think that her experience is the one that speaks to the most about the people in the country. Yeah you speak of these disenfranchised segments you could argue that the Tommies who worked at the dock all day or the Geno's who stood on their feet at the diner are more likely to vote for Donald Trump in this election cycle than for Hillary Clinton. What makes specifically Hillary Clinton the right person to heal those divisions within the country we are a people of many different shades ethnic sports affiliations when we come together we don't want to build walls. You want to bring people together . You can't turn off an entire nation. And I'm going to build a wall and maybe there's some that you can't talk about people with physical disabilities and that he can't talk about women like that. How many more people you're going to push away is. Oh but I'm going to be nice to them tomorrow. Really. What comes out of your mouth was somewhere in your mind or in your heart. And so for me we need to find leaders who are people that we can respect or respect again and and in the case of Mrs. Clinton I immensely respect her. All right understood. Let's segway to business here because you've created runaway tours which put together travel packages that included hotels and private tickets to private concerts and after parties and you then sold it to the NFL is hospitality arm. Tell us where that idea came from how did it germinate Well initially it started out of boredom. If you really want to know the honest to goodness truth I was I was between albums and we were doing these little fan club getaways and they became QED . And initially I was the reason folks would come. Until I realized that these three hundred and I had limited to three hundred because I wanted him to be intimate and for me to not only interact but to spend time taking photos etc. I realized I was really just becoming a tent pole for folks to get together befriend each other for the rest of the year and then ultimately we created these travel packages. So just this year alone we've taken people from Dublin to London to Toronto to New York and a variety of other places. So this business became a place for people to think of it as a cruise on land they could go visit places in the world with a common thread of their favorite entertainer whoever that might be and come together in this place. I was doing a lot of business with the NFL already anyhow and they were spinning off a business and came to me and asked me to be a partner in it and it's called on location and what we were doing was taking tickets out of the hands of brokers and getting them back to fans where they were transparent. We could tell you months in advance where your seats are we could get you hotels we could get you would access to events to parties. And when I told that to the league I said Guys you have to think outside the parking lot. I had their undivided attention. How do you make these events whether it's live concerts whether it's games or the tailgate party at the parking lot inclusive yet accessible because there's different levels there's different love they are out of control. Now in truth you know it's not for everybody. There are some people that have access to again some people who have access to the sea but that is a price point and that that is yes that is the truth . But we offer transparency and here's a great example of why on location is so great . The shorting of tickets just a couple of years ago when my Patriots played against the Seahawks in Arizona. Johnny saves up his money and takes his son and goes to the Super Bowl. He has bought a ticket from a broker and thinks he's going to the game. The tickets were shorted and they weren't available. And Dad's disappointed in the son's heartbroken. We're telling you months in advance where your seats are what you paid for him and how you got them. You were telling you where your tickets are . Your hotel is and what parties you're going to. We made it a very even playing field for everybody. There's no more brown bag with it. Hey mister you want a ticket. So it's certainly a step far removed from what I remember in my childhood and what you remember from your childhood scalping. What do you think are the next horizons the next untapped area is when it comes to these personalized experience. People at home have such great experiences on their couch the television quality is unbelievable and what's a better concession stand than your refrigerator. So when you're gonna go to a game like that you want peace of mind to know that it's going to have been a better experience for all your hard earned money. This is people's one time a year to go away and they want to go for example to the Super Bowl. We want to make sure that it's worth your time . Now this week speaking of the Super Bowl you denied rumors that you're in the market to buy the Tennessee Titans and we know that two years ago you're part of a group that bid unsuccessfully for the Buffalo Bills. Are you in the market to buy an NFL team. Sure. You know I mean yeah I along with two other partners did make a bid a substantial bid for the Buffalo Bills we ultimately didn't get it it was a sealed bid sole reason why. In truth we didn't get it. The Tennessee Titans are not for sale. Quite simple. You know that the team is not for sale. Well why is being an NFL owner a logical step for you down the road. I love the game and I love the business of the game and I do and I do believe that I do believe I have something unique to bring to it . The music industry has seen a huge disruption we've gone from S.D. to digital downloads and now streaming a lot of young people don't feel like they should have to pay for any music they can just get it for free. What will a successful band's business model look like in five years well as an artist truly speaking as an artist right now. Albums to me are very important with commerce not on my mind. It was very important for me to present an album. I have the privilege of doing that because of the stature that we have . For the younger generation it's gonna be harder for one of them to sit in this seat someday and say I sold a hundred thirty million albums. The model has changed. They're going to have to tour. They're not going be able to do it on the level that I do it ad because we've been out there doing it for 30 plus years . So what I don't want to happen is that people's thinking . That genie's out of the bottle. I don't have to pay for it . Here's something I firmly believe. The arts are interdependent . Music movies books and art as we know it fine art are inspired by each other. If we continue to just take it and give it away it's even harder and harder for those people to create it and have a living doing it. They teach us what happened in the past . They are our history lessons paintings are history movies and books and music do the same thing. Do you think that content and distribution should go together the way that AT & T and Time Warner want to tie up. Well I'd hate to create more and more monopolies in the world these things are going to have to be scrutinized aren't they. But you know that's difficult. I'd love to see artists be paid. I'd love to see copyrights be protected. You know this goes back generations and decades when there's brown bags and you know the stories of the singer getting five thousand dollars and told us here's your card . You're out. We own you. OK well we're certainly changing times on that front. Final question to you of Jon Bon Jovi. The candidates love playing high energy ballads at their campaign to get the crowd going. What Bon Jovi songs should Mrs. Clinton play on election night center. Wow this house is not for sale. There you go. There is a shameless plug. What about the Trump campaign. What Bon Jovi song should they play it's a wonderful world because it goes to Syria that anybody has the chance to be the president of the United States .

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Why Jon Bon Jovi Wants to Buy an NFL Team

Rock icon Jon Bon Jovi talks to Bloomberg's Scarlet Fu about his business ventures, why he's supporting Hillary Clinton for president, his ambitions for owning an NFL team and the state of the music business at the Bloomberg Tradebook Charity Day in New York City. (Source: Bloomberg)

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