Revenue / 03.04.20
Coronavirus Travel Restrictions Make Buying Tickets for Plays, Concerts and Sporting Events a Tough Call
CNBC (02/29/20) Whitten, Sarah
In light of coronavirus concerns, travel restrictions are sparking worries about lower attendance and ticket sales at sporting events and concerts. “I don’t think people are so concerned about mass congregating,” INTIX member Peter I’anson says. “I think they have a fear of traveling and don’t want to be in a small enclosed area with people.” LiveNation shares are down over 19% this week, and large international conferences and big events, like K-Pop band BTS’s tour, are cancelling. These concerns are causing more people to buy ticket insurance, and more venues are offering it. “Everyone is being very prudent,” Maureen Andersen, President and CEO of INTIX, says. “No, they are not panicking. Everyone has started very deep dialogues internally and seeing what is happening in the public arena.” The defining moment will come if the International Olympic Committee or the Boston Athletic Association choose to cancel or postpone the Summer Olympics or Boston Marathon, respectively. “You don’t see Coachella making any major changes,” Andersen says. “You don’t see the Final Four making any major changes. That’s always a good indicator.”
Read the full story from CNBC.
Tags: Regulations , News , Venues