Live Nation CEO Michael Rapino released on Thursday (February 25) new information about the company’s plans for the return of live music. Once the promoter of the show obtains government approval to operate above 50% of capacity in most territories where he performs, Rapino estimates that the rehiring of employees and the rescheduling of the company will take three months.
“We’ve been talking to our global employees about this kind of timeline when we can [promote] our first show on a scale, ”Rapino told analysts and investors in a company conference call on Thursday for the company’s year-end earnings report. During the three-month period, the company “will begin to bring back marketing, production [and] all types of events ”, adding that the company can expect to increase“ between the sale or the announcement and the actual show ”.
On Monday (February 22), Prime Minister of the United Kingdom Boris Johnson released a roadmap for the return of live music with indoor concerts authorized to resume at reduced capacity in May and the large-scale return to normalcy, with no restrictions on the audience meeting at the end of June.