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.