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Home / News / The Industry / How the coronavirus could change the live music industry for good

How the coronavirus could change the live music industry for good

How the coronavirus could change the live music industry for good
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“The 360” shows you diverse perspectives on the day’s top stories and debates. What’s happening Though summer and fall are usually filled with festivals like Coachella and Lollapalooza, the coronavirus pandemic has forced artists to trade massive crowds and well-choreographed productions for the intimacy of their bedrooms and the grainy video on Instagram Live. Amid the crisis, the live music industry is indefinitely on hold. Tightly packed crowds in concert halls break virtually every set of social distancing guidelines, and 90 percent of independent venues are expected to close in the next few months if there’s no additional aid. And it’s local artists, as well as crew members, who have especially suffered during the pandemic. Many have turned to live streams, which is one of the only ways fans can get any semblance of a “live” show. While imperfect, the streams have helped to buoy artists’ income, as they are losing out on profits from ticket and merchandise sales. In the last quarter, the events giant Live Nation said it had a loss of $588 million, compared to a profit of $176 million in the previous year. Some venues and artists have found success with outside events , but […]

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