Low Money, More Problems: Currency Fluctuations Further Complicate Latin Live Business Amid Coronavirus
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billboard.comJust days after SXSW was canceled and Live Nation and AEG suspended all their concerts in North America, more than 40,000 people attended the Vive Latino pop and rock festival in Mexico City.
Both the mayor and the president of Mexico said that the concert could go on because the pandemic was in “phase one.” At the same time, the government of Columbia closed its borders as the value of the dollar rocketed by 50% relative to the Columbian peso.As the coronavirus ravages the live music business, Latin American promoters, most of whom rely heavily on international business, are preparing to face another problem: Currencies that are falling relative to the dollar.
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