Live Nation Expect “Shows At Scale” Will Return Next Summer

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Live Nation CEO Michael Rapino has said that he expects to beat the obstacles posed by the coronavirus, in order to host “full scale” shows for next summer.

The company have experienced a disastrous year, with widespread cancellations of gigs due to the pandemic, which has caused the firm to report a 95.1% drop in revenue in the third quarter of 2020.

The company has posted net revenue of $184 million in the period from June to September, down from $3.77 billion that was reported during the same period last year.

Despite this drop CEO Muchael Rapino remains upbeat about the company’s fortunes next year after being encouraged by the small amount of tickets returned for refunds, in addition to strong festival sales for next summer.

He told IQMag that fans can “expect shows at scale next summer” after vowing to implement a series of measures to make sure they are covid safe.

Rapino Said “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”

However, the CEO did admit that “the path to live [music] will not be a straight line” and maintained that the firm “will maintain flexibility and focus on innovating” until the return of live music.

These comments come after the CEO previously said that he expects a “robust outdoor summer season” for live music next year.

Saying “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”

Adding “For example, Download and Isle of Wight are pacing well ahead of last year.”

It’s believed that a testing system could be integral to the future of live music – with those wanting to return to live music required to show a negative Covid-19 test result in order to gain entry.