The iconic El Mocambo music venue in Toronto was in danger of closing after 60 years due to financial difficulties. As more venues like the Big Bop and Kool Haus closed recently, it highlighted the challenges live music venues face relying solely on ticket sales without also having a busy bar. While the El Mocambo had success under various owners who hosted famous bands, its most recent owner struggled to keep it open as audiences' attention spans decreased and people grew less willing to pay for music. However, the venue was saved from closing when it was purchased by Mike Wekerle, who plans to preserve its legacy as a rock music venue.