Concert Industry Will Lose More Than $30 Billion Because Of Pandemic, Pollstar Finds

Topline

What was projected to be a record year for the concert industry is likely to end with more than $30 billion in losses as shows were canceled because of the pandemic, according to a report published Friday by the trade publication Pollstar.

Key Facts

Key Background

Ray Waddell, the president of the investment firm Oak View Group’s Media & Conferences Division, which oversees Pollstar, said that he predicts ticket sales will increase again in 2021. As Waddell noted, there will be coronavirus vaccines, faster and more accurate coronavirus tests and established public health protocols. Joe Litvag, the president of live entertainment at the festival production company Danny Wimmer Presents predicted there will be progress next year, with events appealing to younger audiences bouncing back faster, and that the industry will be back at its normal pace by spring 2022.

Big Number

$87.1 million. That’s how much Elton John’s “Farewell Yellow Brick Road Tour” grossed between November 30 and March 7. It ranked highest on Pollstar’s Top 100 Worldwide Tours list. Celine Dion came in second at $71.2 million, followed by Trans-Siberian Orchestra at $58.2 million, U2 at $52.1 million and Queen + Adam Lambert at $44.6 million with Post Malone, the Eagles, the Jonas Brothers, Dead & Company and Andrea Bocelli in the top 10.  

Further Reading

Report

Top 100 Worldwide Tours list

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