As trials of Covid-safe concerts continue around the world, there is light at the end of this pandemic tunnel for the live music industry.
Live Nation was certainly focusing on the positive in its latest financials report, with president and CEO Michael Rapino citing “the effects of significant pent-up demand as fans are buying tickets and events are selling out faster than ever before”.
The company is also announcing domestic tours, and suggested that global arena and stadium tours will be kicking off “later this year and into 2022”.
Rapino added that “We are already seeing confirmed major tour dates for 2022 up double digits from the same time pre-pandemic in 2019 for 2020”.
As for the financials, they continue to reflect the fact that live music’s return is in its early stages: the company posted revenues of $290.6m in Q1 this year, down from $1.37bn in the first quarter of 2020, just before the lockdowns began.
Music Ally’s next Learn Live webinar will help you build the strategies for artists to thrive in new international markets!