Live Nation CEO Michael Rapino shared new information Thursday (Feb. 25) about the company’s plans for the return of live music. Once the concert promoter gets government approval to operate above a 50% capacity in the majority of territories where it hosts concerts, Rapino estimates the rehiring of employees and rescaling of the company will take three months.
“We’ve been talking to our global employees about that kind of timeline when we can [promote] our first show at scale,” Rapino told analysts and investors on a company conference call Thursday for the company’s year-end earnings report. During the three-month period, the company will “start bringing back marketing, production [and] all the kind venue functions” adding that the company can expect to ramp up “between the onsale or the announcement and the actual show.”
On Monday (Feb. 22) U.K. prime minister Boris Johnson released a roadmap for the return of live music with indoor concerts allowed to resume at a reduced capacity in May and full scale return to normalcy with no restrictions on public gathering by late June.