Live Nation, the multi-billion-dollar events promoter that books a huge percentage of the concert tours in the United States and elsewhere, has announced that it is canceling all of its sponsored gatherings due to the spread of coronavirus. The company’s decision, which affects both domestic and international tours, was detailed today (March 12) in an article published by Billboard.
AEG, North America’s other major tour promoter, announced that it too will cancel all tours. Stated an article in Rolling Stone, “The competitors aligned with the biggest booking agencies in the country to mount a unified effort to address the situation. In a joint statement, executives from Live Nation, AEG, Creative Artists Agency (CAA), William Morris Endeavor (WME), Paradigm, and United Talent Agency (UTA) said they are working together to develop best practices to safeguard artists, fans, and staff in the concert industry.”
A press release from Live Nation, stated, “At this time, we collectively recommend large scale events through the end of March be postponed. We continue to support that small-scale events follow guidance set by their local government officials. We feel fortunate to have the flexibility to reschedule concerts, festivals, and live events as needed, and look forward to connecting fans with all their favorite artists and live entertainment soon.”
“[Live Nation] told employees it is recognizing large gatherings around the world are being canceled and the company will be postponing current touring arena shows through the end of the month,” said Billboard. “Some select shows will play out over the next few days, but the remainder of the concerts will be postponed.”
In the past week, in a series of unprecedented decisions, such events as the NCAA Basketball tournaments, and the NBA, have either cancelled or postponed. Major League Baseball has postponed the start of the 2020 season. Disney’s theme parks, Broadway theaters, and more, have been closed down, as cities and states have begun banning gatherings of more than 250 people.
Live Nation will reassess the situation in April with a hope that concert tours will resume in May or June.
Another Billboard article reported that Live Nation and other promoters have already taken a huge financial hit due to the pandemic: On Wednesday of this week alone, “Live Nation shares fell 16.6%, Madison Square Garden Company dropped 9.5% and German promoter and ticketing company CTS Eventim stumbled 6.5%,” it said.
In a separate article, Billboard is keeping a running list of events that have been canceled or postponed. If you are currently planning to attend a concert or any other public event, it is advised that you check with the venue or promoter to find out if the event is still on.
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