Concert-hosting firm Sofar Sounds faced significant challenges with the Covid-19 pandemic, but the company says it is roaring back now that lockdowns have eased.
CEO Jim Lucchese told Variety that the company has paid out more than $30m to artists since the pandemic, as its concerts got up and running again. It expects to host 10,000 shows in around 400 cities by the end of this year.
However, those payouts aren’t just fees for playing live: they’re also from the company’s expansion into artist services: ‘Fan Rewards’ and VIP experiences that artists can offer to fans through Sofar Sounds’ platform.
During the pandemic, Sofar Sounds acquired ticketing startup Seated to fuel its expansion. The company also pivoted its business towards livestreams during the lockdowns era of Covid-19, before returning to live events as concerts became viable again.