Through all of the craziness in 2020 concerts have been paused almost completely. The idea of 100,000 fans all inside of one stadium doesn’t even feel possible anymore. 

Touring is typically an artist’s main way of making money, so a whole year without it can hurt. For example, during Ed Sheeran’s “Divide Tour,” he made $775.6 million  off of ticket sales alone. Concerts also serve as a perfect place for artists to sell merchandise and other side products to their fans. In 2018 alone licensed merchandise revenue totaled to nearly $3.5 billion dollars worldwide. Concerts are one of the most personal ways for artists to get to fans around the world.

The live music business is worth nearly $32 billion dollars a year. So taking this away hurt the entire industry, not just the artists. It takes a lot of people to put on a concert and helps a lot of people. Venders and restaurants around stadiums won’t get their usual crowds. The stadium will not employ nearly as many people causing a ripple effect of financial issues. 

Virtual Concerts have been one way to ill this void, but they don’t bring in nearly enough revenue. Artists only get about 25% attendance compared to a in person concert. The engagement between artists and fans cannot be achieved through a virtual concert. Fans want to be able to see their favorite artists in person, a virtual concert just doesn’t have the same effect.

With the Moda Center so close to us ,Portland is becoming a hot spot for artists to stop on tours. This slump won’t last forever, after the pandemic is finally over, concerts will return and probably thrive.