Live Nation planning return to ‘full scale’ shows by summer 2021
Live Nation‘s CEO Michael Rapino has confirmed that the company is working on a series of measures that will allow for “full scale” shows by the summer of 2021. The goal is a “COVID secure” live music experience, which will include strict venue sanitation procedures in addition to fan-friendly policies on ticket purchases. Policies may also include presenting a negative COVID test to gain entry into festivals and shows—a potential solution that has long been discussed in regards to reviving large-scale events.
The announcement comes after Live Nation posted a 95.1% drop in revenue, with the company’s net revenue totaling $184 million in the period from June to September. During the same time last year, Live Nation posted $3.77 billion in revenue.
According to IQMag, Rapino remains optimistic for a thriving 2021 live music season. The company’s COVID-secure measures and the observance that fans have chosen to keep their tickets for rescheduled shows over receiving refunds has fueled his positive outlook. He states,
“Our expectations for a robust outdoor summer season in 2021 are also reinforced by the two-thirds of fans keeping their tickets for cancelled festivals so they can go to next year’s show, along with strong early ticket sales for festivals in the UK next summer.”
While livestream shows have given fans and artists alike an outlet for the live music they are missing, Live Nation’s announcement gives fans hope that in-person music experiences can return sooner rather than later.
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