Revenue / 03.05.20
German Promoters 'Fear for Existence' Over Coronavirus
Pollstar (03/02/20) Gottfried, Gideon
German promoters association BDVK says the country's promoters are "fearing for their existence," as the coronavirus epidemic sparks trade fair cancellations in Munich and Berlin, while the Italian, Swiss and French governments have prohibited all large public gatherings until further notice. BDKV President Jens Michow noted the association has witnessed a significant plunge in ticket sales for members, and holders are increasingly returning their tickets for refunds in fear of attending large public events. Michow further warned that many German promoters could face economic implosion if authorities decide to impose a ban on public gatherings. Leading German live entertainment firm CTS Eventim could be affected by restrictions and cancellations in other countries in addition to Germany. For example, the company owns Italy-based D'Alessandro e Galli, Vertigo and Friends & Partners, along with the Ticketone ticketing agency. "According to our current status, there are no restrictions or postponements for live entertainment events in Germany due to COVID-19," said a CTS Eventim representative. "In the medium term, we must look at whether and how customer behavior with regard to attendance at major events may change." A severe curtailment of public events in Germany will likely have the most profound impact on independent promoters, as BDVK estimates that roughly 3,000 self-employed company owners dealing in live events work in Germany, plus some 30,000 ancillary workers.
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Tags: News , Venues