The music industry faces billions of dollars of losses as the two major promoters, Live Nation and AEG Presents, have shut down all shows I rth America due to the spread of the corona virus.
This has been a major blow to the concert industry, including the shut down of all upcoming festivals and tours for all major artists.
Live Nation President and CEO Michael Rapino shared the statement from the task force on Twitter March 12 and tweeted, “The live industry is working together to have an impact during this uncertain time. @LiveNation is rescheduling all large events in the US thru March. Our collective action is essential & can help us all get back to enjoying amazing concerts & festivals.#onenation”
UpdateAs expected, Billie Eilish, Lynyrd Skynyrd and many others have postponed full legs of their March tours. Numerous reports indicate all Live Nation and AEG arena dates in March will be suspended.
PreviouslyThe titans of North America’s live music industry are aligning to figure out how to tackle the numerous challenges arising as the world tries to combat the spread of COVID-19.
A task force has been formed to “drive strategic support and unified direction ensuring precautionary efforts and ongoing protocol are in the best interest of artists, fans, staff, and the global community,” according to an announcement March 12.
The task force’s membership is as follows: Michael Rapino (CEO and President, Live Nation Entertainment), Dan Beckerman (President and CEO, AEG & Board Member, ASM Global), Jay Marciano (Chairman and CEO, AEG Presents), Rob Light (Managing Partner and Head of the Music Division, CAA), Marc Geiger (Partner and Head of Music, WME), Sam Gores (Chairman, Paradigm), Marty Diamond (Head of Global Music, Paradigm), and David Zedeck (Global Head Of Music, UTA).
The announcement, provided by Live Nation, said “At this time, we collectively recommend large scale events through the end of March be postponed. This recommendation is specific to the US and countries deemed level 3 by the CDC. We continue to support that small scale events follow guidance set by their local government officials. We feel fortunate to have the flexibility to reschedule concerts, festivals, and live events as needed, and look forward to connecting fans with all their favorite artists and live entertainment soon.”
This news follows an article published by Billboard citing an internal Live Nation communication informing employees all arena tours would be suspended until the end of March. That article also says Live Nation informed staff it will not have any layoffs and employees were asked to work from home.
According to the New York Times, AEG will also be suspending arena tours. Pollstar has reached out AEG to understand whether the company will be postponing all arena tours.
If Live Nation and AEG are suspending large gatherings, this would mean most large shows outside of independent festivals would be canceled for the month of March.
Deadspin also reported that CAA employees have been told to work from home.