How COVID Changed Hollywood Special Report: ”That energy between performer and audience is something that can’t be replicated,“ Music Center President Rachel Moore says
Live entertainment, arguably the sector hardest hit by pandemic shutdowns, may see the fewest major structural changes once the health crisis subsides. That is, if theaters and concert halls can manage to reopen after all after a year-plus with little or no income from new performances.
The financial reality has been grim. Broadway shows, which grossed $1.83 billion during the 2018-19 season and helped fuel the NYC tourist economy, have been shuttered since March 12, 2020. Beverly Hills-based Live Nation Entertainment, one of world’s largest international concert producers and ticket sellers, produced some drive-in concerts in 2020, but revenue dropped 84% for the year compared to 2019. The company lost $1 billion for the year.