Tomorrow's report should provide important insight into the touring industry amid the coronavirus pandemic. Few earnings releases are as anticipated as Live Nation’s first quarter report coming Thursday -- that should provide a valuable snapshot of the live music business during an unprecedented economic slowdown.
It’s not hyperbole: business closures throughout the Americas and Europe have shut down live concerts (and with it many music workers’ main source of income), pushing venues into financial uncertainty and causing widespread layoffs and furloughs among promoters and agencies.
Live Nation suspended its concerts on March 13, helping to bring the $15 billion U.S. touring market to an abrupt halt. Since then, Wall Street has soured
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