NEW YORK (AP) — As a result of international coronavirus pandemic, live performance commerce publication Pollstar places the entire misplaced income for the stay occasions trade in 2020 at greater than $30 billion.
Pollstar on Friday stated the stay occasions trade ought to have hit a record-setting $12.2 billion this yr, however as an alternative it incurred $9.7 billion in losses. The corporate added that the projected $30 billion determine in losses contains “unreported occasions, ancillary revenues, together with sponsorships, ticketing, concessions, merch, transportation, eating places, motels, and different financial exercise tied to the stay occasions.”
In March lots of of artists introduced that their present or upcoming excursions would should be postponed or canceled due to the pandemic. Whereas a small variety of performers have performed drive-in concert events and others have held digital concert events, nearly all of artists haven’t performed stay in 2020.
With only a few months on the highway, Elton John’s “Farewell Yellow Brick Highway Tour” tops the yr’s Prime 100 Worldwide Excursions record with $87.1 million grossed between Nov. 30 by way of March 7. John’s tour ranked No. 2 final yr with $212 million grossed.
Celine Dion got here in second this yr with $71.2 million, adopted by Trans-Siberian Orchestra ($58.2 million), U2 ($52.1 million) and Queen + Adam Lambert ($44.6 million). Submit Malone, Eagles, Jonas Brothers, Lifeless & Firm and Andrea Bocelli rounded out the Prime 10.
“It’s been a very troublesome yr for the occasions trade, which has been disproportionately impacted by the coronavirus. As painful as it’s to chronicle the adversity and loss our trade and plenty of of our colleagues confronted, we perceive it’s a crucial enterprise towards facilitating our restoration, which is fortunately on the horizon,” Ray Waddell, president of Oak View Group’s Media & Conferences Division, which oversees Pollstar and VenuesNow, stated in an announcement Friday.
“With vaccines, higher testing, new security and sanitization protocols, good ticketing and different improvements, the stay trade will likely be ramping up within the coming months, and we’re certain that at the moment subsequent yr we’ll have a really totally different story to inform.”
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