One of the most missed occasions that was deeply mourned throughout the pandemic was live events that allowed us to celebrate, dream, build community, and experience life in a new way. Luckily, the COVID-19 vaccine rollout has brought in-person functions such as concerts, festivals, and everything in-between roaring back this year, and the masses are flocking to events and getting back to doing what they love.

Special Events are Being Groomed for New Demand

Music events and live shows of all kinds are being scheduled as quickly as possible to meet new demand. These types of events have been non-existent during the pandemic–in contrast to sports that were still accessible through television. Event planning teams, venues, record labels, and beyond are working quickly to get actors and musicians back on stage across the U.S. The mad dash is also causing booking complications with venues, which is forcing event spaces to walk a very tricky tightrope between ensuring that there’s enough space to seat adoring fans that are itching to see live shows and rebooking pre-pandemic shows that were canceled.

Consumers are Spending Big Money on Live Experiences

A new study has revealed a massive shift towards experiences versus things, and 76 percent of consumers would now rather spend money on activities versus products. This news has come as a surprise because millennials were primarily funding the experience industry pre-pandemic. The financial impact of the coronavirus pandemic on millennials has been a mixed bag of occurrences. Less than half of millennials reported feeling an economic impact because of the pandemic, and around 60 percent reported little to no change in terms of income. This is good news for the live entertainment sector since millennials are currently very eager to enjoy life through happenings versus things.

Outdoor Events are Rapidly Recovering

If music festivals are on your post-pandemic list, you may need to notate your calendar so that you can purchase tickets literally the minute they go on sale. The infamous BottleRock festival in Napa, California, completely sold out in 120 seconds. All passes, including $4,350 platinum passes and suites that cost up to $100,000 a day, were among the sold out ticket sales. The Outside Lands festival in San Francisco sold out in 2 hours, and the Life is Beautiful festival in Las Vegas sold out in 40 minutes. 2021 and 2022 will likely outperform ticket sales in previous years, and all signs point to you only live once, or YOLO adventures are ready to be had once again.

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