Live Nation revenue down 98% due to coronavirus gig shutdown

Dani Dyer has showcased her blossoming baby bump in a gorgeous pink dress.The former Love Island star, who announced she's expecting her first child with boyfriend Sammy Kimmence at the end of July, took to her Instagram feed to post a show-stopping seflie of herself posing in front of a mirror.The 24 year old donned a stunning baby pink short-sleeved midi ribbed dress with a knee-high split on one side and a matching belt around her waist, highlighting her growing bump.The star teamed the look

Manchester and the nation observes Victory over Japan Day today - 75 years on from what was, for many, the end of the Second World War.The Prince of Wales, accompanied by the Duchess of Cornwall, will lead a televised two-minute silence at the National Memorial Arboretum in Staffordshire at 11am.Following the silence, there will be a fly-past from the Battle of Britain Memorial Flight, observed by a number of veterans.The Covid-19 pandemic means tributes and events are being organised online -

coronavirus pandemic has forced festivals around the world to cancel their 2020 editions, with fears over their futures if they can’t safely return in 2021.Writing in a memo shared with the promotion company’s investors, Michael Rapino said there were positive signs for next year’s summer events already. “Importantly, we remain confident that fans will return to live events when it is safe to do so,” he wrote.

Michael Rapino calls the stat “our strongest indicator of demand” — while other promoters, including AEG, have reported similar numbers for its tours. But what does the number 86% number really tell us? What data is included in the calculation, and what is being left out? Below, Billboard attempts to answer some of the questions posed to our touring desk about this oft-cited stat.How is the 86% number calculated?It’s a fairly straightforward equation.

Jill Goldsmith Co-Business EditorLet’s get this over with. Live Nation, which makes a living on live events, saw revenue plunge 98% last quarter to $74 million and swung to a loss of $588 million from a profit of $176 million the year before.

Chris Willman Music WriterA second-quarter earnings call with Live Nation execs Wednesday was full of hope, promise and even swagger… for 2021-22.

Hobbled by the lack of live concerts due to the pandemic, Live Nation on Wednesday reported an operating loss of $588.1 million for its second quarter.Revenue for the three months ending June 30 totaled just $74.1 million, a 97% drop from the $3.2 billion in revenue the company recorded during the same quarter last year.Concert revenue was down 95% year-over-year, coming in at $141.8 million, compared to $2.6 billion last year.

The coronavirus pandemic has shut down concerts across the world, amounting to hundreds of millions of dollars in losses for promoter Live Nation last quarter. The touring giant posted an adjusted operating loss of $431.9 million on net revenue of $74.1 million in the second quarter of 2020 -- the first full reporting period of the pandemic. The concerts division’s $141.8

Live Nation has secured financial breathing room by securing favorable changes to its debt covenants ahead of its second-quarter earnings release on Aug. 5.

Also Read: Christopher Nolan's 'Tenet' to Open Overseas Ahead of Limited US Theatrical ReleaseMuch like the previous quarter, Imax’s second quarter was grossly impacted by the closure of substantially all of the theaters in its global network. The pandemic reduced Imax’s revenue to essentially zero and caused a margin loss for the quarter.

Variety Staff Follow Us on TwitterFormer Live Nation New York president Anthony Makes has launched Brooklyn Made, an independent concert promotions company.  According to the announcement, the 30-year industry veteran is “looking to redefine what it means to be a 21 st century music company” and will operate out of his home in the Park Slope neighborhood of Brooklyn, N.Y.“After having a front row seat to everything that was happening in the corporate concert promotion world, I really felt now