Stephen: LiveNation predicts “full scale” concerts won’t return until 2021
During a Thursday call with investors, Live Nation CEO Michael Rapino said he didn’t expect “full scale” concerts to start until 2021. Consequence of Sound reports that, over the next six months, Live Nation will resume concerts in a scaled-down way. There may be indoor shows with no fans or reduced capacity admission. Drive-in concerts could also be an option. High-profile artists who usually play arenas or stadiums could play clubs or theaters for high prices. “We think in the fall, if there are no second hotspots, you’ll see markets around the world [reopening]… And then our goal is really to be on sale in the third and fourth quarters for 2021 at full scale,” Rapino said. As of right now people are excited to get back to concerts and there’s only a refund rate of about five to ten percent, said Rapino. “We’re just going to [watch] the science and see when we can back out there on a safe manner,” Rapino added.