Live Nation issued a statement this weekend following the deaths and injuries at the Astroworld Festival in Houston, promising to “continue working to provide as much information and assistance as possible to the local authorities as they investigate the situation”.
The company’s involvement in the event has already had an impact on its share price, with the Financial Times noting that Live Nation lost more than $1bn in market value following the concert – and a flurry of lawsuits that has already begun raining in.
The FT reported that one lawsuit, filed on behalf of attendee Kristian Paredes, is seeking $1m in damages from Live Nation, the venue, Travis Scott and Drake (who came on-stage for a guest spot at Astroworld on Friday).
Meanwhile, Scott has announced that he will cover the funeral costs for people who died at the event. “These are the first of many steps Travis plans on taking as a part of personal vow to assist those affected throughout their grieving and recovery process,” according to a statement released to NPR.