Live Nation Unveils Reopening Plans… But When?
So What's up, everybody? How you doing?
Without further ado, let's get into it. As I said before, today's topic is about Live Nation and how they're forecasting the future, they believe that by next summer we will be back to scale with live performances, and gotta say that's pretty exciting to at least fantasize about... And just a disclaimer, I say all of this because who really knows, but also it may be just a move to keep their stockholders very happy. But anyway, I digress. Live Nation is encouraged by the 86% of people that had concerts that they bought tickets for rescheduled and they didn't ask for a refund. I think they're starting to believe that the overall temperature of what's happening in the world is coming to a point where consumers are feeling a little bit more comfortable holding on to their investments being tied up in future tickets, also based upon their polling and research that going to live concerts is nearly the number one thing that everybody misses the most and are very excited to get back to in the near future.I know that I am.
Here's a few numbers from last quarter that are not so good. Lab nation reported a 94% drop in revenue is from 26 billion to 146 million. That's a lot of money. So for you counters out there, that's 588 million in the red as they currently speak, which is crazy to think about... Because this time last year, they were 172 million in the black. Currently, they're projecting that with these funds that they have made just recently, it looks like they're gonna be able to stay in business at least until the summer of 2021, which is when everything is projected to go back to normal and... What is the new normal? Who knows? But one thing's for sure, in the time like this, we could all use a little bit of confident reinforcement, and I think you and I both need that.
How do you feel about all of this? Do you feel like that maybe by next summer, we can go to a concert again, at least safely to do it, maybe outdoors, leave a comment below and tell me what you think, I'm interested in your commentary on the subject, a quick shout out to my friend Aaron because when all this started back in March, he immediately said 2021, and I just couldn't see that at the time, I think I was definitely in the beginning in the camp of, Oh, this will be gone by the end of the flu season. Right. And granted, I'm not an epidemiologist, I don't study pandemics or the history of them, nor did we really know that we were in one to begin with, it was a lot of talking going back and forth and to think back on this time is kind of crazy now, we've been in this a long time, and any sort of good news that we can get out of Live Nation makes me feel good.
One thing I'm curious to know is if you leave a comment below also if... To tell us what you've done differently in this pandemic to keep your music world afloat, are you teaching more lessons, did you pick up a second job that's not music related, do you see yourself going back to being a fulltime musician?