3 reasons for optimism in the live events industry in 2021
After a year like 2020, many in the live events industry have their fingers crossed for 2021. And while 2020 taught us exactly how far predictions will get you, there are reasons for optimism.
We can see the light at the end of the tunnel. Even before vaccinations allow us all to come together again to enjoy theater, concerts, sports, and more en masse as a community, there are reasons for live entertainment venues to look forward to 2021. Here are three reasons for optimism in the months ahead.
1. Demand never left, and supply is returning
This pandemic has highlighted how important and integral live events are to our lives. Demand has never really waned, but supply evaporated overnight.
One sign of what’s in store when the pandemic is under control comes from Taiwan, where restrictions were lifted in early June after the country successfully stifled the virus’ spread. As soon as live events were back on the table, a series of four concerts at indoor venues with 15,000+ capacity sold out in 15 minutes.
A survey of more than 9,000 theatergoers across the U.S. in November showed that 92% of them plan to attend live events just as often or more often than they did before the pandemic, a number that has steadily risen from 85% in July.
And the audience for live theater could be much greater than we’ve known. The live stage recording of Hamilton, a hit on Disney Plus last year, showed that there are potentially millions of people who want to see Hamilton in person but haven’t yet had the experience.
Every survey and study seem to indicate that people are itching to return to live events. They just want to be sure it’s safe.
2. Venues have adapted to the “new normal”
Venues have spent the past 10 months adapting and adjusting to the new restrictions required to maintain safety while still producing unforgettable experiences. Some of those changes, such as facility upgrades and the move toward digital operations, were simply accelerations of current needs or trends. Other changes required more imagination.
For example, venues with outdoor space have made creative use of it. The Dr. Philips Center for the Performing Arts in Orlando has taken advantage of its massive front lawn to host more guests in socially distant “boxes.” In fact, it’s putting on a series of films, live entertainment, and other experiences over the next six months as part of its Frontyard Festival.
These efforts are resonating and gaining traction with patrons. An outdoor production of Godspell in Massachusetts, featuring social distancing and other safety measures, was scheduled to end in September, but was extended an extra two weeks due to demand.
Of course, not all venues have the luxury of outdoor events in winter, but some changes and tweaks to their programs have allowed for a safer return for both patrons and venue employees. They’re selling tickets in pods of a certain number to maximize seating capacity while respecting social distancing. Secure contactless digital ticketing has been another safeguard that limits interactions in person while providing a quick and secure way to deliver and check tickets.
Venues continue to demonstrate incredible resilience and an ability to adapt under the most challenging of circumstances. Unlike last year, when everyone was still figuring out the best steps forward, venues now know what they need to do and are doing it.
3. Vaccines are here
Speaking of making it safe to return, vaccine distribution and administration is happening right now. Despite some delays, optimism is still high that anyone who wants a vaccine will be able to get one by late spring or early summer.
Achieving herd immunity through vaccination would open the floodgates to the pent-up demand that never really receded. It would allow us to return to the kind of massive in-person events we all love and miss.
Timelines vary, but many experts are predicting a return to normal by the fall of 2021. That may seem far away right now, but the fact that it’s even obtainable this year is reason for optimism.
And about 2021
2020 brought a cascade of unknowns for live events. 2021 will likely throw some curveballs too, but venues enter the year better equipped to handle them. Even after we reach the far side of the pandemic, many of the changes theaters are making now will help them deliver better patron experiences long into the future.
Creative use of outdoor spaces might live on in spring, summer, and fall events that take full advantage of every inch of a venue’s property and diversify the stages available. Secure contactless digital ticketing helps not only with safety but is being used by venues like the Adrienne Arsht Center and the Segerstrom Center for the Arts as a way to better know their audiences and continue to improve and evolve the experiences they offer.
Everything venues have done in the last nine months and will continue to do this year will give them the tools and the efficiency they’ll need not just this year but for the years to come. 2020 was tough, but there’s a lot of reason to be excited and optimistic about 2021.
