The world’s largest live event and ticketing company has just provided more proof that the world is ready to get back to “normal,” a term that will take on an entirely new meaning in a post-COVID world. What that will look like is still uncertain, but with over 35 percent of the US population fully vaccinated at the time of writing, and upwards of 50 percent with a first-round shot, the race to “herd immunity” is well underway.
In keeping with COVID-19 vaccinations becoming more widely available worldwide, Live Nation has reported a ticketing trend that is certainly a response to our collective yearning to return to normalcy. Live Nation President and CEO, Michael Rapino, told investors that demand for the company’s concerts and festivals has surged and is selling out at a historic record pace. On a conference call earlier this month, Rapino further revealed that Live Nation has already booked twice as many shows for 2022 as they did in 2019.
On his Q1 financial results call, Rapino shared the following:
“We are already seeing confirmed major tour dates for 2022 up double digits from the same time pre-pandemic in 2019 for 2020. Many of these artists will have multi-year tours, spanning the US, Europe and often either Asia or Latin America, setting us up for a strong multi-year growth run.”
– Michael Rapino
The live entertainment giant has already confirmed several significant tours for 2021, including Dave Matthews, Megadeth with Lamb of God, Brad Paisley, and Chris Stapleton, as well as major music festivals set to return this fall, including Bonnaroo, EDC Las Vegas, and Rolling Loud. Rapino added,
“Around the world, people are showing the need to get out and socialize once again which reinforces our expectation that a return to concerts will be the logical progression as vaccines are readily available to everyone who wants to get one. This is generally already the case in the U.S. where we are confidently planning our reopenings, particularly for outdoor shows, and we expect many of our other major markets will follow this summer.”
– Michael Rapino
The news comes after Live Nation reported a pathway to re-opening outdoor events after the first couple of COVID vaccines were approved by the FDA.
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