Live Nation, Eager For Fans’ Return, Is Selling $20 Concert Tickets
Live music is returning — slowly in some areas, swiftly in others — after the year and a half hiatus brought on by the pandemic. Live Nation is sweetening the deal for some fans, selling $20 tickets for 1,000 upcoming shows across the U.S., the major concert promoter announced Thursday.
The deal has 36 artists participating, including Lil Baby, the Jonas Brothers, The Black Crowes, Maroon 5, Kiss, Alice Cooper and the Zac Brown Band. The $20 tickets will be available while supplies last starting July 28th at 12 noon E.T.
Live Nation has been touting high demand for shows since last year, with CEO Michael Rapino reassuring investors during earnings calls that the promoter has twice as many shows slated for 2022 as it did in more typical years. It’s unclear whether Live Nation’s move today is merely a marketing scheme or a response to lower demand for the shows — but it’s worth noting that many of the artists participating in the promotion still have plentiful tickets available for their shows across the country right now.
Live Nation, which also owns Ticketmaster, has struggled through the past year and a half, hemorrhaging money each month while the live music business remained in limbo. But Wall Street has kept confident in the concert promotion and ticketing giant, based on its power in the concert industry and the anticipated pent-up demand for live entertainment. Its stock is currently sitting at about $79.30 a share. That’s about $13 lower than the all-time high it hit in March, but it’s still worth more than at any point before the pandemic started.
The live music industry remains cautiously optimistic as it pushes forward amid growing concerns over the coronavirus’s highly contagious delta variant, which poses a particular risk to communities with low vaccination rates compared to those who have gotten the vaccine. As cases climb once again, Los Angeles County last weekend reinstated its mask mandate requiring residents to wear masks at indoor public places.
The Foo Fighters postponed their show at the Forum last weekend after someone in the organization tested positive for Covid-19, but postponements are far less frequent as a late summer festival season is getting underway, and more bands and artists are announcing new tours each week.
“We couldn’t be more excited to get back out on the road,” Zac Brown said in a statement accompanying Live Nation’s promotion announcement. “It’s been a long, difficult year for everyone and we’re fired up to be reuniting with our crew, sharing new music with our fans, and celebrating a brand new world.”