Live Nation is optimistic that live music will return next summer in full force.
Despite the mass cancellation of shows, tours and festivals due to the coronavirus (COVID-19) pandemic, Live Nation CEO Michael Rapino expects a “robust outdoor summer season.” He says fans can look forward to “shows at scale next summer.”
Rapino continues, “From venue sanitation procedures to fan-friendly policies and on ticket purchases and the latest testing options, we are setting standards that will give the fans, crews and artists peace of mind before, during and after the show.”
Despite Live Nation’s 95.1% drop in third quarter revenue — from $3.77 billion to $184 million — he says future events like Download and Isle of Wight are pacing ahead in sales.
Rapino admits, however, “the path to live [music] will not be a straight line.” In the coming months and perhaps years, Live Nation must “maintain flexibility and focus on innovating.”
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