There is no denying that the live events industry was hit the hardest by the COVID-19 pandemic. Since March, event organizers have been unable to host events at normal capacity.
Some have begun to host small events with health and safety requirements in place while others have stuck to virtual events. We surveyed a group of event coordinators to get the pulse on the state of the live events industry.
The survey was sent out to those who in some capacity help to plan and promote live events, mostly focused in the music industry. Of those surveyed, they identified themselves as a:
The other category included Government Event Planner, Artist Relations Manager, Booking Agent, Live/Music Entertainment Photographer, Conference/Convention, etc.
Over half the group surveyed hosts multiple events throughout the year normally. 62% answered that they host 10 or more events.
Unfortunately, the vast majority have had to cancel their events. 67% of respondents said that they did not plan to host any events in 2020.
For those that were still planning to host events this year, we inquired about what healthy and safety requirements they would be implementing. The top four were Masks Required, Increase Hand Sanitizer Stations, Social Distancing Required, and Temperature Check Required. Other requirements some planned to execute were on-site testing, contactless check-in,
Across the nation, major companies are experiencing massive layoffs. The group surveyed was split when it came to laying off employees with 49% answering that they had not laid off any. 48% stated that they already have and 3% responded that they plan on it.
The majority of those surveyed did not receive any sort of financial assistance. The most popular form of assistance came through SBA PPP or other loans with 33% of respondents receiving funding. Some other financial relief programs included Music Cares Relief Fund, Crew Nation, and MGM Emergency Grant Fund.
Virtual events and live streaming have increased overall through the shutdown period but it is not be driven by event coordinators. 52% responded stating they are not currently hosting live streams and do not plan on it. Of those hosting streams, 33% are offering free access. For those selling tickets, the majority are pricing them from between $5 and $10.
Whether you are looking to live stream a virtual event or save on ticketing fees, learn how PromoTix can help you sell more tickets and increase your bottom line.