Hit enter after type your search item
Loopcloud Sounds
EDM Global Producers

EDM Global Producers, Djs & Artists

Loopmasters Premium Sounds
Home / News / Concert industry sees devastating $30 billion loss worldwide – Dancing Astronaut

Concert industry sees devastating $30 billion loss worldwide – Dancing Astronaut

img


As the world continues to fight the ongoing effects of COVID-19, the music and entertainment industry has incurred colossal damages, coming as a shock to none. Now, in the final month of an incredulous year, the numbers have arrived and, albeit unsurprising, the calculations remain ever-agonizing at a $30 billion worldwide loss since March 2020.

The projections for the year were an expected $12.2 billion in profits at the box office, but instead resulted in a devastating $9.7 billion loss. These numbers include unreported events, ancillary revenues, sponsorships, ticketing, concessions, merchandising, transportation, restaurants, hotels, and any other finances that are linked with live entertainment, according to Pollstar.

Despite suffering a heavy blow across music industry members and fans across the globe, hope for the future remains. With vaccines rapidly surfacing, the possibility for live events to return in the coming months becomes more optimistic than ever. For more information on concert-industry finances, read the full Pollstar report here.

Via: Variety

Featured image: Matthieu Thoer

Tags: box office, concerts, covid-19, Music Industry, pollstar

Categories: News






Source link

  • Facebook
  • Twitter
  • Linkedin
  • Pinterest

Leave a Comment

Your email address will not be published. Required fields are marked *

This div height required for enabling the sticky sidebar
Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views :