How Covid-19 Has Affected Live Entertainment
Updated: May 13, 2020
I've spent the past 18 years working as a ticket broker and business operations consultant in the live entertainment industry; I can honestly say that I'm very optimistic about where we are headed. If you ask other sellers, you might hear a different story as we tend to live in the negative, but I get it, I hear you. In recent weeks Live Nation had to cancel or postpone a large number of events for 2020, then they created "Ticket Refund Plan" where a consumer can opt for a refund within 30 days of the new show date being announced.
Secondary exchanges like StubHub, Vivid Seats and Ticketmaster Resale are delaying sellers payments to after an event occurs because of the amount of uncertainty. Sellers wake up every morning hearing different news, either good or bad; some believe there is no end in sight. But is there? Over the past few days, we've screen articles about how NFL ticket sales are up 234% over last year. States are starting to allow venues to resume business and we've seen our first drive-in concert. If those NFL numbers have proven anything, it's that consumer confidence is there. Let's face it, people have been stuck at home for months and they're ready to get back to some sense of normalcy. Everyone wants to return to normal, what do you want to do?