I like the graphic element and the atypical layout. I do think it could be improved with some information hierarchy. This is a concept I picked up in a typography course a few years ago.
It's pretty basic, make the least important information smallest. Make the most important information largest. Of course in practice this is harder than it sounds. When you are dealing with musical acts, you have some acts which draw more than others. As well as some information which seems important, like the date and address, but those are really minor details.
Also, if this was my flyer, I'd want to get the text out of the way of that great graphic element.