Concert hall bookings are recovering as artists start planning in-person events later this year and next year Live nation entertainment.
The company is optimistic that demand for ticket sales will follow as more concerts are announced.
“What we have seen so far is that the number of shows that we have booked in our large buildings, our arenas, our amphitheaters, our stadiums are double digits faster than in 2019. Not all of these tours have passed, we still have one Lot on sale every week now, “Joe Berchtold, its president, told CNBC.”Close the bell” Monday.
The company predicts that the demand for concerts will continue to be high in the next few years as a result of the pandemic. The company’s shares are up nearly 25% this year, equating to a valuation of over $ 20 billion.
Berchtold also said it was too early for the company to predict what public health precautions will be needed in a few months, as the Centers for Disease Control and Prevention regularly update their guidelines.
“Instead of trying to dictate a global one size fits all, we are looking at the local health authorities for information about what makes sense in this market at this point in time and how we are developing it further,” said Berchtold.
Live Nation branches out into streaming and non-fungible tokens or NFTs. In January, the company acquired a majority stake in the live streaming platform Veeps.
“We are using this to increase the streaming of live concerts for those who cannot do a show,” said Berchtold. “We’re also very focused on NFTs, how we create digital memorabilia. One of the things you unfortunately lose with digital tickets is you lose the ticket stubs that so many people like to keep as a record of the event.”