Authorities have canceled 20,000 concerts in China and Hong Kong, which will cost the region $286 million.
HONG KONG — At the 2010 World Expo, AEG unveiled its stunning new Shanghai arena. The 18,000-seat venue, now called the Mercedes-Benz Arena, was designed to be China’s version of Los Angeles’ Staples Center and a showcase for the concert giant.christened the building, making it abundantly clear that the company — and its competitors — believed the future of the live business was in the East.
About 20,000 music shows between January and March have been canceled or postponed in China and Hong Kong, costing RMB 2 billion in ticketing and box-office losses, according to the China Association of Performing Arts.
The longer these cancellations continue, the worse it could get for Asia’s live sector. If the virus is contained soon, the best-case scenario is that promoters will have to spend the entire second half of 2020 just making up shows from the first half. That could hurt Hong Kong and South Korea, which were just starting to adopt Western production capabilities, says Steve Dixon, who has managed tours for BTS, Blackpink and BIGBANG’s 2015 Made world tour.
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