The novel Coronavirus (COVID-19) outbreak is a fast-evolving situation, illustrated by the fact that yesterday the entirety of Italy was placed on lockdown. There was also a succession of news stories on the effect the outbreak is having on the music industry. The share prices of public music companies plunged: Live Nation, Spotify, Vivendi and others were hit by a wider stock-market crash, while Apple alone lost nearly 8% of its value.
Meanwhile, Madonna cancelled the final concerts in her Madame X tour due to France’s new restrictions on public events; Pearl Jam postponed the first leg of their upcoming tour in North America; Promoter Goldenvoice is reportedly in talks to potentially move its Coachella and Stagecoach US festivals to October (and according to Billboard, if it can’t “the 2020 versions of Coachella and Stagecoach will likely be cancelled”); and the Winter Music Conference in Miami later this month has been “rescheduled” (although to what date, the organisers have yet to say).
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