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Despite Coronavirus Music Industry To Nearly Double In Value by 2030, Predicts Goldman Sachs
The global music industry is getting hit hard by the Coronavirus closures, with up to an estimated 25% drop in value in 2020 according to Goldman Sachs analysts.
Despite this bleak prediction, the same analysts foresee a much better future for the industry once the Coronavirus dust settles and we move through the upcoming decade. The American investment bank said in a research note made public this week that the live music industry would at first be “severely impacted” by the postponement and cancellation of events this year, but that over the longer-term they expect a strong rebound.
Track Canceled or Postponed Music Festivals With This New Website
With the COVID-19 Coronavirus pandemic wreaking havoc across the world, music festivals are announcing cancelations or postponing dates on a daily basis. This puts economic strain on not only the performing artists, event organizers, and the teams involved, but also on anyone with flights, hotels, and festival tickets already booked and paid for months in advance, now struggling to get info in time to get their bookings refunded. To help everyone stay on top of things, you can now track canceled or postponed music festivals thanks to Slovenia-based music data company Viberate, who have put together a comprehensive list at www.sickfestivals.com, updated daily.
