The losses of Russian private concert agencies due to Pandemia of coronavirus exceeded 30 billion rubles-data from market participants

The losses of Russian private concert agencies due to Pandemia of coronavirus exceeded 30 billion rubles. Such estimates were brought by the head of SAV Entertainment Nadezhda Solovyova.

He clarified that the income of the private sector was estimated at about 40 billion rubles a year, and now the industry works by a maximum of 5-7%. Market players hoped that it would recover in the fall, but this did not happen. “Now we understand that in the current situation, it will be revived no earlier than the next year - spring - summer,” Solovieva said.

According to her, now large concerts of foreign artists are transferred to the spring of next year and later, and performances by foreign artists in stadiums are possible no earlier than May, while concerts of Russian artists are planned in the near future.

In turn, the president of the Berin Iglesias Art concert holding, Maxim Berin, said that the industry "is doubtfully looking at 2021, they are trying to plan at 2022-2023." According to the President of the NCA group of companies Mikhail Shurygin, "the tragedy is that no one can foresee a way out of this situation." According to him, “about 30-40% of promotional companies will cease to exist or turn into something else”, while large market players will cope and find a way out of this situation.

According to the players of the industry, about half a million people are now involved in the private sector of the industry.