Pollstar: The stay occasions business misplaced over $ 30 billion worldwide in 2020
According to reports, the live events industry lost over $ 30 billion worldwide in 2020.
Pollstar has released its 2020 Annual Review listing amazing statistics amid the global pandemic. What was forecast to be a landmark year for live entertainment, including massive concert tours and box office hits, amounted to a loss of over $ 30 billion – a figure that resulted from the year-over-year growth rate of 10.92% for the first quarter results.
2020 * will forever have a huge, indelible asterisk next to it. It will be a vivid reminder that the most difficult year our industry has ever seen was an anomaly, an aberration, a smallpox in our company that deviated greatly from all norms and cannot be over quickly enough.
When the coronavirus (COVID-19) pandemic hit and the festival began to be postponed, we all knew that the music industry, especially live events, was going to take a heavy blow. Over the months, postponements became cancellations and dates that were postponed from 2020 to 2021 and 2022. Those numbers now show the financial implications and adversity of the live events industry.
Pollstar’s Comprehensive Review Includes a 2020 Business Analysis: What Could Vs. What was. Plus, year-end tickets 2020 for tours, live streams and much more.
Read the full report here.
H / T: variety, source: Pollstar | Photo via Rukes.com