The CEO of Live Nation has reported that he hopes shows to return at full scale in 2021 overcoming obstacles from the coronavirus next Summer. It has been a horrendous year for the company and due to the current pandemic and the endless amounts of gigs having to be cancelled, the firm has reported a 95.1% drop in revue in the third quarter of 2020.
As a result of the cancellations, it has left the company operating at a loss of 504 million, compared with the 260 million profit they benefitted from in 2019. Although the profit has increased slightly thanks to the help of live streams, virtual shows and drive-ins, the firm have told IQ Magazine that they are, “Working on a roadmap to get back to live safely,” in order for them improve the financial picture for the company next year.
To check the status of your event, visit https://t.co/Z2tDfiI4ju pic.twitter.com/4epk26clhg
— Live Nation (@LiveNation) March 18, 2020
In speaking to IQ Magazine, CEO Michael Rapino has said that fans can, “expect shows at scale next summer,” after putting in the relevant safety measures in place due to Covid-19. He confirmed that, “From venue sanitation procedures to fan-friendly policies and on ticket purchases and the latest testing options, we are setting standards that will give the fans, crews and artists peace of mind before, during and after the show.”
Due to the uncertainty of when things will return to normal due to the current crisis, Rapino told IQ Magazine that they can, ““expect shows at scale next summer,” but he added that the, “exact timeline of this return will vary by region, and so we continue to focus on remaining flexible.” Last month ticketmaster also laid out their plans for the future and explained how fans can be assured that they will remain safe during live shows. Their new ‘Smartevent Technology’ enables organisers to easily distribute tickets for Covid-19 protected shows.
In talking to Kerrang in June, Live Nation promoter Andy Copping talked about the impact that the Corona virus has had on the ‘live music scene’ saying, “The concern is that we might not see gigs as we know it this year, certainly in the bigger rooms. I’m hoping that some of the smaller venues will be up and operating towards the end of this year, and that will hopefully energise the live business and we can get back to some kind of normality in early 2021.”
He spoke about the affects this has had on artists, bands and their fans by saying “We’re frustrated about not going to shows, but the bands themselves are super-frustrated about not being able to play – that’s what they do for a living! Yeah, they’re writing songs and just spent the past three-and-a-half months sat in their houses, but most bands make their money being on the road so they wanna get out there. I’m hoping we see some kind of light at the end of this hideous tunnel and we get back to live music sooner rather than later.”
There is no doubt there is a lot of angst when it comes to the future of live music but Rapino remains optimistic by saying to IQ Magazine that Live Nation, “will maintain flexibility and focus on innovating,” and looking forward to the future of live music.
