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UK festivals plot comebacks as optimism grows

A growing number of UK festival operators are confident their events should take place in some capacity this summer, bolstered by plans to allow full-capacity outdoor shows in England from June (as well as a viral tweet from Reading and Leeds Festivals).

British prime minister Boris Johnson announced on Monday (22 February) that all lockdown measures should be lifted in England from 21 June, theoretically allowing large outdoor events such as festivals to take place with no restrictions. Industry response to the announcement was largely positive, though live music businesses and associations are seeking more clarity as to what will be possible.

Speaking after the announcement, Paul Reed, CEO of the Association of Independent Festivals, said he is “optimistic that many of our member festivals may be able to go ahead in some capacity later on this year. There are still, however, some urgent points of clarity that need to be made around the exact requirements that festival organisers will need to meet, in particular around testing and Covid certification.”

Also optimistic about this summer is Festival Republic, which tweeted yesterday that, “following the government’s recent announcement”, its Reading (105,000-cap.) and Leeds Festivals (75,000-cap.) “can’t wait to [welcome] fans back to the fields” this summer:

https://twitter.com/OfficialRandL/status/1364526936660336643

The sister festivals are scheduled for Friday 27 to Sunday 29 August and boast a largely British line-up, though there are several international artists – including Americans Madison Beer, Fever 333, Ashnikko and, notably, headliner Post Malone – booked to perform.

“We cannot wait to open our gates and welcome both fans and artists”

Speaking to the NME last month, Festival Republic managing director Melvin Benn said that while the festival sector is relying on “the vaccine first and testing second”, his ‘Full-Capacity Plan’ would allow for major events to go ahead even before the UK achieves herd immunity to the virus. “It could be a mix of both,” he explained. “I feel that we can get away with shows purely on testing. It’s immensely hard work, but operationally doable and hopefully unnecessary. The Full Capacity Plan was always based on verification of being clear of Covid, or clear of being in danger of Covid.

“The vaccination, and verification that you’ve had it, would give you that safety of knowing that you’re not going to get super ill. It will work, providing that they can get the majority of the people in the country vaccinated, and as long as there are enough people at the event who have been vaccinated.”

Among the other UK festivals that have indicated they will take place this summer – all after the key date of 21 June – are pop-punk event Slam Dunk, Americana weekender Black Deer, drum’n’bass festival Hospitality Weekend in the Woods and a new one-day London event, Wide Awake.

Slam Dunk said on Tuesday (23 February) that both Slam Dunk North in Leeds and Slam Dunk South in Hatfield (both 22,000-cap.) would be pushed back to September from their original dates in May.

In a statement, the independent festival said it had already predicated that the original dates would not be feasible and had, “of course, been working hard on rescheduled dates”.

Slam Dunk has yet to announce its 2021 line-up although organisers say it should “remain very similar” to 2020’s cancelled event, which would have featured Sum 41, Don Broco, NOFX, Billy Talent, the Used and more.

“Following the government’s recent announcement, we can’t wait to get back to the fields this summer”

Black Deer, meanwhile, is taking place just a week after originally planned, returning to its 20,000-capacity Eridge Park site in Kent on 25–27 June.

The 2021 festival is headlined by Van Morrison, Wilco, the Waterboys and Robert Plant’s band Saving Grace, with other performers including Lucinda Williams, the Dead South, Imelda May and Drive-By Truckers.

Speaking to Access All Areas, Black Deer promoter Gill Tee said the festival is “planning for a full-capacity event” in June, and that “ticket sales are moving towards that number”.

Wide Awake, a new festival of “leftfield indie, post-punk, electronic, techno and jazz” which was originally due to debut in 2020, takes place on 3 September at Brockwell Park in south London (formerly home to Field Day) with artists including Black Midi, Songhoy Blues, Tinariwen, A Certain Ratio and Erol Alkan.

Organiser Marcus Weedon, who co-founded Field Day in 2007, comments: “We’re incredibly excited to finally be able to bring this very special show to London this September. It’s been a tough year for everyone, not least the festival and event industry, and we have been working very hard to ensure Wide Awake is brilliantly curated with the safety of everyone at the forefront.

“We cannot wait to open our gates and welcome both fans and artists in what is going to be an incredibly special event this year.”

 


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Schwenkow predicts open-air shows this summer

Concert promoters should be able to stage outdoor events, as well as smaller indoor shows, this summer, DEAG’s Peter Schwenkow has predicted.

“When we have around 80% of people who have been vaccinated, by June or July, we should be able to hold smaller and open-air events,” Schwenkow, CEO of the German promoter, told yesterday’s Tagesspiegel.

Schwenkow also said that organisers should be free to restrict entry to events to those who have already had the coronavirus vaccine, or who can produce a negative Covid-19 test at the door, reports the DPA news agency.

“Why not let 2,000 people into the [Berlin] Philharmonie when they have all been tested and vaccinated? Organisationally and technically, this is not a problem,” he continued. “The question is whether you can find an official who would approve it.”

“Why not let 2,000 people into the Berlin Philharmonie when they have all been tested and vaccinated?”

Speaking to IQ last month, Schwenkow said he sees 2021 as a year of largely domestic touring and smaller shows, with a full return to normality in summer 2022 through a combination of vaccines and rapid testing.

“It’s a miracle that they could develop the vaccine in under 12 months,” he said, “but the miracle is there. By end of the year, everybody who wants to be will be vaccinated.

“We have been wishing since March that someone could help us out of this, and now they can. Of course, speedy testing and vaccinations are easier for 5,000 people than 80,000, so while the former I think will be possible by winter [2021] we’ll have to wait until summer 2022 to have the full 80,000 people at our Nature One festival, for example.”

He echoed this prediction in the Tagesspiegel interview, saying it would be at least April or May 2022 before international artists – especially Americans – will be touring Germany, presenting a unique opportunity for “local entertainers”.

 


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Robert Grima: ‘We need the whole ecosystem to succeed’

As the worst year in the history of the live music business finally nears its end, IQ caught up with several industry leaders ahead of the new year, asking for their predictions for 2021, as well as the lessons they can take forward from 2020.

Here, Robert Grima, president of Live Nation Spain, speaks about the logistics of putting on 18 shows this summer while the pandemic raged, and why the industry must no longer take the live experience for granted when concerts return…


IQ: This year has been difficult, to put it mildly, but have there been any positive aspects you are taking forward from this annus horribilis?
RG: Yes, 2020 has also been a year of reflection and, especially, of cooperation in the live music sector. The sector has come together to give visibility to live music events as part of the culture and lives of many people, showing our professionalism and effectiveness and the efforts of promoters to give continuity to the sector, despite the circumstances.

How has news of the coronavirus vaccine news changed the conversations you are having with artists, management, promoters, festivals, etc.?
We as a global company are totally focused to getting back to the shows we all know and love, and there is a great focus on many ideas and protocols that will help us improve the service to fans and deliver a quick return.

Livestreamed shows have shown that fans will pay to see their favourite acts remotely. How do you imagine this technology might develop when regular touring activity resumes?
The impact of livestreamed shows in Spain has been similar to in other countries. Livestreaming has proved to be a good complement to live, and additionally can be a marketing add for our artists through these times.

It is a model that, in the future, can coexist with the live show as an additional offer for the fan in some cases, but the experience of a live show is unique and irreplaceable.

“Once we are all able to come back there is going to be incredible pent-up demand waiting on the other side”

What advice or encouragement can you give to those who were hoping to break through in 2020, knowing that the market is going to be overcrowded with onsales when the industry gets back to work?
Live is one of the best ways for artists to grow their engagement with fans, and once we are all able to come back there is going to be incredible pent-up demand waiting on the other side.

I would encourage them to focus on playing live, not stopping, even if it means performing with reduced capacity for longer, because it has been proven that fans respond and artists enjoy it. And it’s the best way for artist to maintain and grow their engagement with fans.

Despite the high numbers of Covid-19 cases in Spain, you were still able to host some Crew Nation events. How did you achieve this, and what challenges did you have to overcome?
Yes, we hosted 18 Crew Nation Presents shows in La Riviera over the summer with the aim of supporting and giving visibility to crews that work in live events. The shows were a great success. Artists love playing live, and the fans got to go to shows in a summer when, in many places, live music was on pause. Additionally, and really importantly, the crew were supported by the events at a really hard time, looking after the whole ecosystem of live.

This was all made possible because we collaborated closely with the local authorities and adapted protocols to the new regulations, which have been effective and used throughout the series.

As Spain/Portugal are often either the first or last dates of European tours, do you think the Spanish market’s return to business will be different to other territories around the world?
No, it does not have to be different. Fans continue to await concerts with the same enthusiasm, and Spain will continue to be an attractive country for artists. I actually believe that there will be a boost in the live sector once we get back.

“I hope that from next year we all can be in the moment and grateful for every show we get to be a part of”

The way various rival firms have cooperated and collaborated for the common good during the pandemic has been impressive. What hopes do you have that closer industry bonds can continue post-Covid-19?
My hope is that once and for all we can cooperate together in all moments, not only in difficult ones. What we have really seen is that the live industry is an ecosystem and we need all of it to succeed.

What do you think the biggest challenges are going to be for Live 2.0, and how do you think industry leaders can best guide the business as things reopen?
We have spent the summer working hard with local authorities to guarantee artists, fans and crews that the concerts are taking place in a safe environment. This is what promoters and artists across the world will be focusing on, and what we have proven so far to be possible. The parameters may continue to change but we will, as always, work with local authorities and health advisers to get as many artists in front of their fans as possible.

With the Crew Nation Presents shows we demonstrated that not only promoters are taking the new restrictions seriously, but that the fans are, too. I think that’s the best sign of things to come once we can fully reopen.

Finally, are there any bad habits the industry had that you are hoping might disappear when normality returns?
It’s easy to get swept up in the day to day, and I hope that from next year we all can be in the moment and grateful for every show we get to be a part of. Let’s not ever take live music for granted.

 


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Marsha Vlasic, Michele Bernstein look to 2021

As the worst year in the history of the live music business finally nears its end, IQ caught up with several industry leaders ahead of the new year, asking for their predictions for 2021, as well as the lessons they can take forward from 2020.

Here, Marsha Vlasic, president of Artist Group International, and Michele Bernstein, founder of Michi B Inc. and former partner at WME, talk livestreaming, vaccines and getting prepared for ‘Live 2.0’…


IQ: This year has been difficult, to put it mildly, but have there been any positive aspects you are taking forward from this annus horribilis?
MV
: Other than spending much-valued time with my family I really can’t think positive about having our lives controlled and halted this way.

MB: The ability to reset and make space for new ideas and concepts.

How has news of the coronavirus vaccine news changed the conversations you are having with artists, management, promoters, festivals, etc.?
MV
: I think most people are cautiously optimistic because we are all in such need of some good news.

We really don’t know when the bell will ring and when, and how fast it will be distributed, although the news coming from the UK is more promising.

MB: Conversations are very different. Plans are now very tentative and subject to change at a moment’s notice.

Livestreamed shows have shown that fans will pay to see their favourite acts remotely. How do you imagine this technology might develop when regular touring activity resumes?
MV
: Streaming has been very strong for me – my client Norah Jones charted as number one on Pollstar; Neil Young has done some beautiful live streams; Band of Horses have also, just to name a few of my encounters.

Having said that, hopefully it will not replace the live experience. I have had some success with the live streams, but there is nothing like the live show!

“Hopefully some amazing music will come out of bands’ experiences during this time”

What do you think the biggest challenges are going to be for Live 2.0, and how do you think industry leaders can best guide the business as things reopen?
MB
: We don’t know what the world will be like as we open up again.

That having been said: not flooding the marketplace with on sale traffic, remaining mindful and cautious that both volume and timing will play key roles in our shared recovery.

What advice or encouragement can you give to those who were hoping to break through in 2020, knowing that the market is going to be overcrowded with onsales when the industry gets back to work?
MB: Plan to seed the marketplace with some new content and redraft a new timeline/plan that includes a myriad of platforms.

MV: Hopefully there is always room for one more! I am sure every market will be saturated… Competition will be healthy, I hope.

Finally, are there any bad habits the industry had that you are hoping might disappear when normality returns?
MV
: I don’t believe so – business is business, and competition is healthy.

MB: Turning thoughtlessness into thoughtfulness.

MV: Hopefully – I use that word again – some great, amazing music will be coming out from bands’ experiences during this time. That could be really exciting.

I want my fucking life back!

 


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Phil Rodriguez: Reopening a “great opportunity” for new acts

As the worst year in the history of the live music business finally nears its end, IQ caught up with several industry leaders ahead of the new year, asking for their predictions for 2021, as well as the lessons they can take forward from 2020.

Here, Phil Rodriguez of Move Concerts, South America’s biggest independent promoter, speaks about the challenges that lie ahead, including the opportunities for emerging and local artists, and why cooperation will be important than ever on live music’s road to recovery…


IQ: This year has been difficult, to put it mildly, but have there been any positive aspects you are taking forward from this annus horribilis?
PR: Aside from spending more time with family… business-wise, it was a power kick in the ass that made us all look at costs, reinvent ourselves, etc. We got into the streaming business with LivePass Play and expanded our management roster.

When the “curtain opens” again, we will have more tools in our toolbox and run leaner and meaner.

How has coronavirus vaccine news changed the conversations you are having with colleagues, agents, artists, venues, etc.?
Everyone I have spoken with is more positive. The vaccine was the thing everyone was waiting for. Finally hope, and a better idea of timelines.

Livestreamed shows have shown that fans will pay to see their favourite acts remotely. How do you imagine this technology might develop when regular touring activity resumes?
The shut down of live events made the streaming business grow and become a new asset in our business. It will evolve and find its niche once live events come back – marketing, special launches, tour end (or start), streams, etc.

What advice or encouragement can you give to those who were hoping to break through in 2020, knowing that the market is going to be overcrowded with onsales when the industry gets back to work?
The upside for many artists is that they had over a year off the road to write, record, write, record. When they go out, in many cases, it will not be with just one or two singles out. It will be three-plus deep. That will help.

But be careful with dates/routings and be clever with what extra value your show offers to the punters. Is it priced right? Is the show a must-see? There will be a tsunami of tours!

“Moving forward with new routings and tours, we better be speaking with each other!”

Do you think Latin America’s return to business will be a different experience from that elsewhere?
The lockdowns in most of LatAm were very strict. Folks are inching to go out.

LatAm markets will open sooner – but with local artists. In fact, Brazil started having socially distanced concerts in Sao Paulo this month (50% of capacity up to a max of 2,000 with social distancing, seated). Rio, as of 1 November, can have up to 50% of capacity seated and socially distance, Buenos Aires has theatres opened with 30% capacity and socially distanced. Chile starts with socially distanced shows end of the month, and Uruguay never locked down and has live events at 30% of capacity. Only Peru, Colombia, Puerto Rico and Central America are still without live events.

The front end of the ‘opening’ of concerts around the world will be with local artists. A great opportunity for them to take advantage of and be front and centre.

The way various rival firms have cooperated and collaborated for the common good during the pandemic has been impressive. What hopes do you have that closer industry bonds can continue, post-Covid?
It has always been the smart thing to do. I have always felt that there is a sense of community in our business – no matter how warped we may seem at times!

We just went through a storm like never before. No one in our business was immune. No one will forget this black swan and, also, who stood solid in the storm.

Plus, moving forward with new routings, tours, etc., we better be speaking with each other!

What do you think the biggest challenges are going to be for Live 2.0, and how do you think industry leaders can best guide the business as things reopen?
Everyone will come back wanting to make up for the time lost and costs incurred. This should not cloud our decisions.

Finally, are there any bad habits the industry had that you are hoping might disappear when normality returns?
Yes, high ticket prices! We better look at ticket prices carefully.

There are more reasons than ever before: many people lost their jobs or businesses, others burned through their cash reserves, many currencies devalued during the pandemic, and there will be a lot of options for the consumer – from tours, to sports, to travel, etc. All the things most folks gave up for over a year.

 


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There’s no better time than now to go on sale for 2021

It’s been a turbulent year, to say the least, for the events industry. Mass cancellations, followed by huge uncertainty and financial turmoil, has caused a huge strain on what is one of the world’s most exciting sectors.

Despite all this, we’ve always been confident the industry will bounce back strongly. There’s a reason why the global events industry was valued at $1,100 billion in 2018, with the expectation of reaching $2,330bn by 2026, but its influence goes way beyond a monetary value and into the very fabric of who we are as people.

Back in the summer of 2020, we ran a survey of over 100,000 festivalgoers to find out what they were thinking about the future of live events. We were surprised even ourselves to find out that a huge 83% would feel confident booking an event for 2021, indicative of the pent-up demand that has soared following a year starved of live events.

We’ve already seen this heightened demand turn into sales selling over 90,000 tickets thanks to some extremely impactful launches from the likes of Afro Nation, Rolling Loud, EDC Portugal, BST Hyde Park, Mad Cool and El Dorado Festival. What’s maybe even more encouraging is that 60% of those sales have come from international travellers – nearly double the amount of overseas buyers from the same period in 2019, and from a much smaller pool of festivals.

All those above have benefited from little to no competition. In an industry notoriously saturated, their bravery has effectively turned into a competitive edge. It’s never been so easy to get your message across and take advantage of the strong demand before others like it is possible to do now.

It’s never been so easy to get your message across and take advantage of the strong demand before others

As the roll-out of coronavirus vaccines continues to gather pace and we gradually return to normality, we believe more and more events will look to go on sale. That’s obviously great news, but of course makes it harder to cut through the noise compared to launching now.

Whereas a few months ago the question over if live events would be able to take place in 2021 was still very much hovering over us, we feel this mindset has now shifted to how these events will take place.

We’ve been working hard on this to unveil our new Covid-secure offering through Event Genius, which allows promoters to operate a robust track-and-trace system and self-scan ticket entry and go completely cashless.

If there’s one thing that’s always struck me about the events industry it’s its resilience and optimism. It’s been a tough past year, but despite all that’s been thrown at us we’re confident that with innovation and positivity we’ll return with a hugely successful 2021. It’ll be worth the wait!

Click the image below to view the Festicket infographic accompanying this piece:

Festicket infographic

 


This article forms part of IQ’s Covid-19 resource centre – a knowledge hub of essential guidance and updating resources for uncertain times.

Luis Sousa is marketing director for Festicket.

No fear: New UK festivals set to launch in 2021

Several brand new UK festivals have been announced for summer 2021, despite the festival sector’s uncertain future.

Creation Records boss Alan McGee has announced the launch of Creation Day, featuring headliners Happy Mondays and Editors.

McGee has got his fingers crossed for spring, with the event set to take place at Wolverhampton’s West Park between May 29-30, presented by The City of Wolverhampton Council, Creation Management and Toura Toura Festivals.

The bill will feature a number of acts signed to McGee’s Creation 23 label, including Marquis Drive and The Illicits, alongside the likes of Sleeper, Cast and Friendly Fires.

Presale tickets are available from 21 October and go on general sale on 23 October, priced at £110 for the weekend and £55 for each day. Details are subject to change, depending on government restrictions around coronavirus developing.

Elsewhere, Steve Yeardsley, MD of technical production company OneBigStar, is hoping to launch Unlocked festival at Newark Showground from 18-20 June 2021.

The festival has stated that fans will be entitled to refunds should it be cancelled due to Covid-19.

The 10,000-capacity festival has already confirmed acts including Ministry of Sound Classical, The Feeling, Craig Charles, Inner City and Republica.

The site will comprise three stages – a main stage, a big top, and a late-night venue – along with a traditional funfair and camping, which ranges from boutique VIP and glamping to family and quieter zones.

A limited number of launch tickets are on sale priced £156 via ticketing partner Gigantic. The festival will be entirely cashless, in partnership with Weezevent.

The festival has stated that fans will be entitled to refunds should it be cancelled due to Covid-19.

Also planning a June debut is house and disco festival One Out (cap. 5,000), launched by independent promoter Freddie Macgregor.

The one-day event is scheduled to take place on 19 June at Apps Court Farm in Surrey, half an hour outside of London.

Performing across the two stages – Main Stage and Disco Big Top – will be artists including Roger Sanchez, Hannah Wants, Artwork, Paul Woolford, Krystal Klear, La La, Low Steppa, Sam Divine, Mambo Brothers, Weiss and Menendez Brothers.

General sale is now open with tickets starting from £40. The festival has also said that should it be postponed or cancelled due to Covid-19, full ticket transfers or refunds will be available.

Currently, festivals are not allowed to take place, though a coalition of industry bodies recently published new guidance to help the festival sector mitigate risk and plan Covid-secure events ahead of next summer.

 


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Live music down 64% this year – but will rebound in 2021

The money generated by live music ticket sales and sponsorships has fallen 64% in 2020, with nearly US$18 billion having been wiped off the value of the international concert industry this year alone.

That’s according to the latest figures from auditing firm PricewaterhouseCoopers (PwC), whose new Global Entertainment & Media Outlook illustrates for the first time the economic devastation wrought by the novel coronavirus and subsequent restrictions on staging live events.

The Global Entertainment & Media Outlook 2020–2024 – whose forerunner, the pre-coronavirus Outlook 2019–2023, predicted average annual live music growth of 3.33% through 2023 – revises that figure down to 1.4% (2019–24) to reflect the impact of Covid-19.

In total, live music will generate a projected $10.4bn ($8.3bn ticket sales + $2.1bn sponsorship) in 2020 – down from nearly $29bn in 2019, and far short of the $30.4bn generated by recorded music this year, according to the report. The fall in live revenues has also helped wiped some $17bn off the value of the global music industry as a whole, as the chart below (which covers 2015–24) shows:

2020–24 live music revenues, PwC Outlook 2020

This year marks the first time since the great recording industry slump of the 2000s – when touring overtook physical sales as artists’ main source of revenue – that the recorded sector (including digital) has been worth more than live, reflecting continued strong growth in music streaming, particularly during the Covid-19 era.

Music streaming specifically is worth $20.4bn in 2020, with a predicted compound annual growth rate (CAGR) of 11.32% up to and including 2024.

The global concert industry’s revenues in 2022 will be $29.3bn – over $300m higher than in 2019

Recorded music isn’t the only sector to have done well out of lockdown. Where physical experiences, such as live music, cinema and theatre, have been particularly hard hit by the downturn, home entertainment is booming, according to PwC, with video games (as previously noted by IQ) and ‘over-the-top’ (OTT) video – ie Netflix and other video streaming services – the chief “beneficiaries” of the Covid-19 crisis.

In the UK alone, OTT video revenue has “surge[d] by 18.6% in 2020, to £1.6bn”, the report notes, while videogame consumption is up 9.7%. “Overall, the video games industry is forecast for 9% growth this year, amounting to £5.2bn, and by 2024 the sector will be worth £6.8bn at a CAGR of 7%,” it continues.

But it’s not all bad news for live. Far from it: The 2020–2024 Outlook shows that live music will rebound in 2021, with worldwide revenues growing by 82.6%, to over $19bn, as concerts resume.

Mark Maitland, PwC’s UK head of entertainment and media, says a similarly strong recovery is expected in 2021 for other industries reliant on “in-person” experiences.

“Parts of the media sector have been hit very hard by the Covid-19 pandemic, particularly in-person activities or those reliant on advertising revenue,” he explains. “This will drive a c. 7% decline in sector revenues in 2020, but in recent months we have already seen improving performance, and as such, we expect the sector revenues to return to 2019 levels in 2021.”

Looking further ahead, PwC’s numbers tally with previous predictions made by investment bank Goldman Sachs – another seasoned music industry observer – whose head of media and internet research, Lisa Yang, said at iFF last week she expects the live music industry’s recovery to be complete by 2022.

PwC forecasts “live music to bounce back immediately next year”

Similarly, the Outlook 2020–2024 shows global revenues of $29.3bn – over $300m higher than in 2019 – for the concert industry in 2022, with ticket sales having rebounded to $23.3bn, compared to $22.9bn in 2019.

Despite a ‘lost’ year in 2020, then, PwC’s analysts see consistent growth for live music in the years ahead, noting that even though the business has ground to a halt, M&A activity continues.

“With global live music revenue expected to grow at a 1.4% CAGR, despite disruption to the sector in 2020 as a result of the Covid-19 pandemic there is much to gain from having a broad-based live offering,” reads the report.

“Providing more venues reopen,” PwC UK forecasts “live music to bounce back immediately next year from its growth loss this year”.

Highlighting how live businesses have embraced technology to connect with fans during the concert shutdown (giving the recent virtual Wireless Connect festival as an example), Maitland notes that industries which have diversified into digital are the ones best placed to bounce back quickly after the coronavirus threat has passed.

“Some parts of the [entertainment] sector, such as gaming and OTT video, have been beneficiaries during the pandemic, and we expect these to continue to prosper, with many ‘lockdown habits’ continuing far beyond lockdown,” he explains.

“For sectors adversely affected by the pandemic, this has brought forward some of the digital disruption prophesied to come years later, and it has reinforced the digitisation of the industry. This is reflected in [the fact that] industries that are forecast to claw back their lost revenue are ones being driven by, or have embraced, technology as a way to connect with consumers.”

 


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