The second-quarter earnings call with Live Nation executors on Wednesday for 2021-22 was full of hope, promise and even stagnation. Not surprisingly, although current firms have taken on deadly proportions, the firm’s quarterly earnings reports show a year-on-year reduction of 989%.
The revenue was ৪ 4 million compared to ২০১ 2 billion in the same period in 2001
The net loss in the second quarter of Live Nations was $ 568 million, up from the same quarter last year. 2 172 million was free.
Nevertheless, the agency said in its call on Wednesday afternoon that it believes there is “sufficient liquidity to conduct critical activities until it returns”, which Live Nation expects to happen on a large scale in the summer of 2021.
“We’re not going to have DJ sets in Hampton anytime soon,” said CEO Michael Rapino, referring to the recent Benefit Show of Chainsmokers in New York, which drew negative attention from politicians and health officials. “We will play long and play safely.”
Among the cited figures, Live Nation said the 86% of fans chose to hold their tickets to a rescheduled event without asking for a refund, “expressing a strong desire to attend future concerts.” The number of fans is about two-thirds less than throwing away their tickets for the festivals next year. But Live Nation points to strong sales of festivals in Europe that have already sold out next summer, with 19 million tickets sold on 20 million shows.
In this call, Rapino expressed his belief in vaccines and treatments to protect the world for one year from now.
On earnings, Rapino said, “We don’t want to keep any misrepresentations of backward income. We’re moving the industry forward, ”he said, adding that fans who have high expectations for the show have been offered that some contestants are determined to retain their image at any cost, meaning their tickets.
“I believe, 2121, ’22 will be a record year,” Rapino says. “Without exactly any quarterly measure we have, business will be stronger than ever.”
The Live Nation Rep called that the company is “talking about returning to spring abroad in 40 countries” and that the business will see a return to concerting “before some spring markets”, but different regions think the resolution will be different. In the United States, they indicated that backups would take the longest time in ramping, but the 50 amphitheaters operated by Live Nation would provide an advantage.
In an initial report, the company said, “Nearly 90% of fans worldwide are planning to attend the concert again,” although not everyone will see that more than 10% of the population will swear in the concert as an incentive for the future of the industry.
The agency said it had cut spending by more than 800 million this year and cut cash usage by ৪ 1.4 billion.
Asked about recent reports that Live Nation is asking agents and artists for more favorable positions at festivals next year – which has resulted in substantial response – Rapino said it was an unfortunate leak of what it meant to be a starting point for discussion.
“We’d like to make sure in ’21 that if you’re a major title artist you’re going to play a certain festival this year and still want next year … (that) we’ve both shared some risk,” in terms of asking? “A refund reduction and some insurance.” Despite what he called “drama” in the press, Rapino said the company only “wanted to make sure we didn’t pay the same price in ’21 if we saw a 30% drop in fans willing to buy tickets.” Willingly does not predict any such risk.
“The media has made some kind of work progress, which is very bad,” “discussing with agents and managers is a business model … different positions and different times for different artists. The process is always fluid. েন্ট Agents and artists are all very Collaborated that if you have an event this year and want to reschedule next year, you have to compromise a bit. “
But while fans can expect sales to resume in the U.S. for the show, Live Nation president Joe Birchtold said, “We expect that there will be a few on-sales by the end of the year and most of what we get will be in the first quarter of next year.