Live Nation’s CEO shares optimism ahead of 2021 festival season
The COVID-19 pandemic has been wreaking havoc across every industry, but perhaps one of the most affected has been the events circuit. With cancellation upon cancellation flooding in across the year, many events have faced the struggle of a completely empty season. However, there has been a great deal of optimism shown regarding 2021, with the events calendar quickly filling up. This optimism is shared by Live Nation CEO, Michael Rapino.
Following a near 100% revenue loss, Live Nation has faced a difficult year to say the least. But in a recent memo sent to shareholders, Rapino stated that he hopes for “a robust outdoor summer season in 2021.” Within the memo, he also points out that there is still demand for tickets, with many ticketholders having chosen to keep hold of their passes for postponed events. According to Rapino, around 86% of fans have chosen to hold onto their tickets rather than request a refund.
Michael Rapino’s optimism regarding 2021 will definitely be music to the ears of many. Everyone hopes to see the events industry bounce back will full force next year, with many hoping to return to their favourite festivals as soon as possible. While the future remains uncertain, we hope that 2021 will bring better news for the music industry.
Image credit: Live Nation