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Live Nation reports 20 per cent revenue loss in first quarter

Michael Rapino pandemic Coronavirus
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Due to the global freeze on live music Live Nation have shared their financial report for the first quarter of 2020, revealing a 20 per cent revenue decline (from USD $1.37billion to $949.3million).

The live entertainment company also reported a USD $172million operating loss, with a net loss of USD $210million. In the report, Live Nation CEO and President Michael Rapino said the company was initially “on track for tremendous growth” across all their businesses, “with both fan demand and artist touring increasing on a global basis”.

However, projections were thrown out the window when the coronavirus pandemic hit. Global restrictions on gatherings were slowly tightened, reaching its apex around mid-March.

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