coronavirus devastated the live music sector.According to financial results for the quarter ending June 30, 2020, the touring giant posted a net revenue of $74.1 million – which is 98% lower than the $3.16 billion a year earlier – and an adjusted operating loss of $431.9 million.The company also held just 24 concerts in North America, compared to 7,213 in last year’s second quarter.In Europe, there was a total of just 131 concerts, down from 3,309 last year, attended by 41,000 fans.Live Nation said in a statement: “Over the past three months, our top priority has been strengthening our financial position to ensure that we have the liquidity and flexibility to get through an extended period with no live events.
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