Live Music Industry lost $30B in 2020

According to Pollstar in their end of the year report, the North American concert industry lost upwards of $30 billion dollars in 2020. 

This loss comes from the vast impact the COVID-19 pandemic had on the live concert industry. Venues and arenas all over the world were closed down and have yet to fully reopen in North America. 

The performance data associated with Pollstar’s first quarter, which took place from November 21st 2019 to February 19th 2020, implied that 2020 was “set to be the greatest year in live music.” The Top 100 Worldwide Tours’ gross jumped nearly 11 percent year over year, to about $840 million. 

Huge acts were forced to put their touring plans on hold due to the pandemic. These acts include bands such as The Rolling Stones, Tame Impala, The Eagles, Billie Eilish and more high profile acts that would have generated high revenue for the live music industry.