Concert business to lose billions over coronavirus

The music industry could lose as much as $5 billion - the same amount as the projected loss for the film industry - over cancellations and postponements due to coronavirus, analyst Kristen Jaconi, director of the Risk Management program at the University of Southern California’s Marshall School of Business, said. Kevin Kennedy, an industry analyst at IBISWorld, told the Rolling Stone that - “overall, the negative economic impact of the virus will be especially severe for smaller-scale operators that cannot effectively manage the risk".