The CEO of concert giant Live Nation has said that the company expects to beat the obstacles posed by coronavirus in order to host “full scale” shows next summer.
It follows a disastrous year for the company, with the widespread cancellation of gigs due to the pandemic causing the firm to report a 95.1% drop in revenue in the third quarter of 2020.
Live Nation posted a net revenue of $184 million in the period from June to September, a huge drop from the $3.77 billion they raked in during the same period last year.
As IQMag reports, however, CEO Michael Rapino remains upbeat about the company’s fortunes next year after being encouraged by the small number of fans who have returned tickets for refunds, as well as strong festival sales for next summer.
He added that fans can “expect shows at scale next summer” after vowing to implement a series of measures to ensure that they are Covid-secure.
The main stage at Leeds Festival 2019 (Picture: Katja Ogrin/Redferns)
“From venue sanitation procedures to fan-friendly policies and on ticket purchases and the latest testing options, we are setting standards that will give the fans, crews and artists peace of mind before, during and after the show,” he commented.
However, he also admitted that “the path to live [music] will not be a straight line” and insisted that the firm “will maintain flexibility and focus on innovating” until the long-awaited return of live music.
Rapino’s latest comments come after he said he expects a “robust outdoor summer season” for live music next year.
“Our expectations for a robust outdoor summer season in 2021 are also reinforced by the two-thirds of fans keeping their tickets for cancelled festivals so they can go to next year’s show, along with strong early ticket sales for festivals in the UK next summer,” he said.
“For example, Download and Isle of Wight are pacing well ahead of last year.”
It is thought that a testing system could be integral to the future of festivals – with attendees providing a negative Covid-19 test result in order to gain entry.
Earlier this month, TicketMaster also laid out their first plans for how fans can safely return to gigs.