The Price of Coronavirus on the Festival Season: We Have the Report
We measured the pandemic’s economic impact on festivals worldwide and collected our findings in an exclusive report.
Surely every one of us has at some point found themselves in a never-ending, rain-soaked line to a festival port-a-potty, disappointing beer in hand, thinking: “This is it, this is the absolute worst it can get.” But then 2020 happened, proving that things indeed CAN get much, much worse — for the entire festival scene.
Because even though every music festival has its less-than-ideal moment, we can all agree that having no festivals to go to is absolutely devastating. And it’s not just the FOMO we’re talking about — the livelihood of hundreds of thousands of people is in serious risk.
The coronavirus pandemic will cost the music industry billions.
Take the UK, for example. In June 2020, over 500 UK venues signed a letter to the government calling for a $60M+ cash injection designed to save the local music industry. As these letters and reports show, a staggering 93% of festival businesses run the risk of being completely wiped out without such support.
Bear in mind — the UK is just one of the markets. The global effects are equally chilling.
Our Viberate Report has the details.
To get a better picture of the economic impact of coronavirus on the festival season from the beginning of the epidemic until 22 April 2020, our data science team collected and exported our entire festival database, following set parameters: festival name, country (festival location), size (sorting festivals in five different size classes, based on the number of visitors), and date (time of festival duration).
Sampling methods were then used, gathering available data on the average ticket price and the average number of visitors, while additional statistical methods were employed to eliminate anomalies and level out the data. The result: an exclusive report you can download for free.
Download Viberate Report 👉 right here 👈
What’s next for music festivals?
It’s worth pointing out that our report in no way offers a go-to template for creating music festivals in the future, nor does it advocate a hurried re-opening of venues or festival gates until experts can agree on the correct safety measures and propose the best way forward.
What the report does provide, however, are valuable insights into the scope of the Covid-19 pandemic on the worldwide festival scene, which we hope can additionally highlight the music professionals’ efforts and concerns, and offer them concrete talking points. We also have the products and the know-how that could help overcome the crisis, so to anyone interested: hit us up.
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