Live-Event Industry Lost more than $30 billion dollars after COVID

The statistics show the destructive damage caused by the pandemic to the concert industry.

Pollstar, the trade magazine that publishes upon live music industry, has reported a depth analysis by comparing last year to after-epidemic period.

Pollstar predicted gross receipt from tickets as $12 billion dollars by 100 most popurlar tours as record from their previous report that was published based on the data of music world in the first quarter of the year. In 2019, reveneu in this period was around $5.5 billion dollars in top 100, yet this year’s gross receipt remained at $1.2 billion dollars, which is %78 decrease comparing to last year.

The ticket sale-rate of the mentioned 100 tours was 57 million last year, while it was only 13 million tickets sold this year. Another detail that catches attention in the report is about the way restrictions in social life are reflected in the event sector. Therefore, car concerts, which we are used to involve since 15 March very often, forms 49% percentile of all events performed during the pandemic period. In the 419 events performed in this way, $18 million dollars of revenue was achieved.

You can check out some of the statistical information mentioned above in the table, or you can reach Pollstar’s comprehensive report here.