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How Will Superstar Tour Cancelations Impact the Industry?

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As artists & execs scramble to reschedule album rollouts, an analysis of boxscore data from 2019 offers insight into the hundreds of millions of dollars the industry will likely miss out on from major tours in the coming months

As cities, states and entire countries shut down to flatten the curve of the coronavirus, the touring industry is facing an unprecedented crisis. Live Nation, AEG and major booking agencies WME, Creative Artists Agency, UTA and Paradigm released a joint statement on March 12, effectively halting all major tours worldwide. In the days that followed, concert venues of all sizes closed to stop mass gatherings.

In 2019, the top 30 tours of March and April collectively grossed $697.5 million and sold over 6.5 million tickets during the 61-day period, according to figures reported to Billboard Boxscore. That marks an 11% increase in revenue from the same period in 2018, which was already up 9% from 2017.

Assuming that 2020 earnings would increase another 5% to 10%, the top 30 tours of March and April would have been expected to gross approximately $750 million. That doesn’t mean that March 2020 grosses will collapse to $0, however. Initial reports for the early-March tour dates that took place before cancellation recommendations are in the multimillions thanks to A-listers like

 

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How Will Superstar Tour Cancelations Impact the Industry?As cities, states and entire countries shut down to flatten the curve of the coronavirus, canceled and postponed March/April concerts will cost the industry over half a billion dollars — and that’s just the start. ...and when on shutdown do we start breathing different oxygen than before? People gotta be realistic here. It's all polluted! Let God take the lead. Let's not try to be too clever. Prove there are more important things in this world? Honestly, it's far too soon to make those kind of predictions.
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