Live Nation‘s CEO has hopes that concerts and festivals could return by the summer.
In an interview with Variety, Michael Rapino has revealed that after looking at the statistics laid out by the British government, he’s hoping that festivals in the US could be put on by the summer.
The timeline provided by the British government has the ticket and even company selling about 170,000 tickets this week for three major U.K. summer festivals.
The timeline stated that large music events could resume at 100% capacity beginning on June 21, and shortly after the announcement, Live Nation put up tickets and sold out 100,000 tickets for the Reading & Leeds festival, which is scheduled for August 27 and 29.
“Every day we seem to have a new state or country talking about when they’ll open up, so we’re feeling more optimistic than we were a month ago,” Michael shared. “Lots of artists are calling, looking at how we start up in July, August, September. So for right now, we still believe we’ll have enough open in the U.K., Australia, Canada and the U.S. to keep what we have on the books in amphitheaters booked for now. We might have certain states that might not be ready, but we have enough states and enough artists willing to play the open slots if we get to that level in the right markets.”
He adds, “So as long as these states open up to the right capacities, we can start in midsummer and in the southern U.S. we can go all the way into November.”
As far as the United States goes, Live Nation is waiting for a sign from the government as well and has hopes there will be one.
“[We] think we’re better off waiting for a high bar capacity moment in most of the states to ramp up and talk to the artists about getting paid properly,” Michael added, saying that the prospect of a 75%-plus capacity re-opening in the largest U.S. markets was “within sight.”
In late August, Live Nation had reported that revenue for music events was down 98% due to the pandemic.
Months before, the event company revealed they were shutting down all live events because of coronavirus.
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