Louie's Rock City will present a five-day Washington Music Celebration tonight through Thursday, featuring two dozen of the area's bands in groupings of five to six bands a night. Besides providing a unique opportunity to sample several bands in one night, the concerts will help raise funds for Mike Schreibman's financially troubled New Era Concerts, a local production firm. Over two decades, Schreibman has been a good friend to local bands, and has presented many major groups in their first concert dates: Bruce Springsteen, Bonnie Raitt, Little Feat, the Clash, Supertramp and Dire Straits. "The company is in real serious debt," Schreibman says."Concerts in the last year have not been as profitable as in years past, not just for me, but for all promoters." Besides chronic undercapitalizing, Schrebman's problems include a lack of set venues. Though he reopened the Warner Theater and helped turn the Bayou into a major rock room, he has no consistent home out of which to work.

The 38-year-old Washington native used to do a lot of benefits at Emergency, one of the best rock clubs in town in the late '60s. When work got out that Louie's would be the home of the benefits, Schreibman's phones started ringing off the hook with group volunteering thier services. Among the bands playing are Tex Rubinowitz, Billy Hancock and the Satisfiers, Evan Johns and the H-Bombs (all of which just returned from a European rockabilly tour), Martha Hull, Joe Triplett, Root Roy Slim, Tru Fax and the Insaniacs, the Allstars, Nightman, the Slickee Boys, Killdevil and others. For information on nightly schedules, call 241-7950.