Yesterday (March 12), Live Nation, AEG, CAA, WME, Paradigm and UTA issued a joint statement suggesting that all major events in the US, and countries deemed level 3 by the Centers for Disease Control and Prevention (CDC), should be postponed through the end of March due to the Coronavirus outbreak.
Level 3 countries include China, Iran, South Korea, Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Monaco, San Marino and the Vatican City.
In addition, the six companies said that they have set up a global task force to “drive strategic support and unified direction ensuring precautionary efforts and ongoing protocol are in the best interest of artists, fans, staff, and the global community”.
The task force includes Michael Rapino (pictured, CEO and President, Live Nation Entertainment), Dan Beckerman (President and CEO, AEG & Board Member, ASM Global), Jay Marciano (Chairman and CEO, AEG Presents), Rob Light (Managing Partner and Head of the Music Division, CAA), Marc Geiger (Partner and Head of Music, WME), Sam Gores (Chairman, Paradigm), Marty Diamond (Head of Global Music, Paradigm), and David Zedeck (Global Head Of Music, UTA).
Things have gone from bad to worse for the global live music business this week.
The companies’ recommendation follows the cancellations of this year’s South by Southwest in Austin and Miami’s Ultra Music Festival, as well as Goldenvoice’s postponement of Coachella and Stage Coach until October.
And, after a 16.6% decline in US-based Live Nation’s market cap value on Wednesday (March 11), the Michael Rapino-led firm suffered another disastrous day yesterday (March 12), with its share price down by a further 13.83% on the New York Stock Exchange.
Elsewhere, Download Australia has been cancelled with the country’s Government recommending that all gatherings of over 500 people should be cancelled, while Italy is on complete lockdown until at least April 3.
The Netherlands, meanwhile, has banned gatherings of more than 100 people.
In the UK, Radio 1‘s Big Weekend in Dundee has been cancelled, although a number of the country’s major summer festivals told VICE that they’re still planning to go ahead, including Glastonbury, which could reportedly lose up to £100m if it’s cancelled.
The World Heath Organization (WHO) officially declared the spread of COVID-19 a “pandemic” on Wednesday (11 March).
“We feel fortunate to have the flexibility to reschedule concerts, festivals, and live events as needed, and look forward to connecting fans with all their favorite artists and live entertainment soon.”
Live Nation, AEG, CAA, WME, Paradigm and UTA
Said the statement: “The world’s leading forces in live entertainment have come together to form a global task force to drive strategic support and unified direction ensuring precautionary efforts and ongoing protocol are in the best interest of artists, fans, staff, and the global community.
“At this time, we collectively recommend large scale events through the end of March be postponed. This recommendation is specific to the US and countries deemed level 3 by the CDC.
“We continue to support that small scale events in these regions follow guidance set by their local government officials.
“We feel fortunate to have the flexibility to reschedule concerts, festivals, and live events as needed, and look forward to connecting fans with all their favorite artists and live entertainment soon.Music Business Worldwide