The Live Events Industry Lost Over $30 Billion In 2020

It’s been a rough year for the live events industry to say the least. Logistical and financial issues have continued to hurt the industry which has lead to a staggering loss that Pollstar reports is over $30 billion globally for the live events industry. When COVID-19 first started to spread, there was no doubt that the entertainment industry was going to take one of the heaviest hits. The inability to have live events and performances instantly had an impact on the revenue streams of live event companies.

In Pollstar’s recent 2020 year-end special issue, they outlay the financial effects COVID-19 has had on the entertainment industry which they report is over $30 billion globally in total losses. Pollstar goes on to say that, “In the first quarterly analysis of 2020, Boxoffice tallies hinted at what might have been a trailblazing year in concert touring and live entertainment.” Unfortunately, “what might have been,” turned into an endless list of cancelations and postponements which ultimately ended in a huge loss for the live events industry at a global level.

Pollstar’s recent year-end special issue also outlays the Top 100 Live Streams,  Top 200 Concert Grossers, and Top 100 Promoters, amongst a plethora of other categories.

Read Pollstar’s  2020 year-end special issue here.

Source – Pollstar 
Feature Photo – Tom Zhang

Related Articles

New MusicNews

Fred again.. Has Another Album On The Way

Fred again.. has another album on the way. Moments ago, the Grammy-winning...

The Warehouse Project
New MusicNews

The Warehouse Project Launches First Label, WHP Records

The Warehouse Project is launching a new club-driven record label, WHP Records....

BOO Seattle
Music FestivalsNews

BOO Seattle Shares Lineup For 2024 Halloween Weekend Haunt

Insomniac has shared the 2024 lineup for BOO Seattle, the Pacific Northwest’s...

New MusicNews

Max Styler & GENESI Share High-Energy Single, “See You Sweat”

House and techno favorites Max Styler and GENESI have teamed up to...