Marc Geiger is sharing his thoughts on the state of the music industry amid the pandemic.
The Lollapalooza co-founder and former WME global head made an appearance on The Bob Lefsetz Podcast on Thursday (July 16).
“My guess is late 2021, more likely 2022. I think that this is going to be – the whole thing’s a s–tshow, everybody knows…in my humble opinion it’s going to be 2022,” he said of the likelihood of live entertainment returning amid the global health crisis.
“It’s going to take that long for what I call the germaphobia economy to be slowly killed off, and be replaced by what I call the claustrophobia economy, which is everybody wants to go out and go back to dinner and have their life and go to festivals and go to shows. And my instinct is that it’s just going to take a while. As you can see, these super-spreader events…ain’t gonna do too well while the virus is this present. My instinct is the world has a very long, forced time-out…this is bigger than us,” he continued.
“Insurance is a biggie. I don’t know when that comes back, either.”
He was also asked about the likelihood of the industry surviving a delay through 2022.
“It’s economically devastating. I don’t think any excuse can be made…there’s going to be a massive amount of bloodshed, bankruptcies, it will not be good for a majority of the industry,” he went on to say.
“The economic devastation is going to be bigger than people think. The reshaping is going to be bigger than people think.”
In the meantime, Coachella recently got a tentative 2021 return date. Find out when they’re aiming to launch…
Listen to the podcast episode…
