Ticketing platform SeatGeek has agreed to a nationwide class action settlement in the US, putting a stop to claims that it did not provide customers with full cash refunds for events cancelled due to the pandemic. The settlement will affect SeatGeek customers that purchased tickets to a live event via the company’s mobile website between …
UK Government’s live events reinsurance scheme paid out just once
The UK Government’s live events reinsurance scheme, which was designed to help keep the live events sector going through the pandemic, paid out just one claim, according to a report from the Financial Times. The Financial Times reported that one claim of £180,500 (€204,000/$225,000) had been paid out, generating almost £6m in premiums, according to …
Major events help to deliver economic recovery for Victoria
Melbourne’s packed schedule of major events, as well as regional concerts and events, have helped to bring a major boost to the state of Victoria in Australia. Most recently, the 2023 Melbourne International Comedy Festival was on track to be the biggest version ever, with ticket sales predicted to pass the previous box office of …
Music Venue Trust report finds grassroots events still below pre-pandemic levels
The Music Venue Trust (MVT)’s annual report has revealed that while its members staged 177,000 events last year, it was still a decrease of 16.7% compared to pre-pandemic levels. MVT represents almost 1,000 grassroots venues in the UK and a survey of 960 of those found that there were also 565,000 individual performances, and together …
STAR details impact of pandemic and recommendations for building back
STAR (Society of Ticket Agents and Retailers), the self-regulatory body for live events ticketing in the UK, has published a report on how the industry fared during the COVID-19 pandemic. Independent ticketing specialist Will Quekett was commissioned by STAR to interview 39 stakeholders from across the ticketing and events industry. This included venues, events organisers …
Festicket Moratorium hints at post-pandemic struggles
Festival package company Festicket has filed a moratorium, which typically means that struggling businesses are given formal breathing room to try and come up with a rescue plan. According to Companies House, the Commencement of Moratorium was listed today (Wednesday) and is being processed. The UK Government says that a moratorium means no legal action …
Cineworld shares halve following rescue talks
Cinema chain Cineworld’s market value more than halved after management said that it was in talks with stakeholders about a financial rescue package. The chain has blamed a lack of blockbuster films which has in turn resulted in lacklustre admission levels. Cineworld has managed to rack up a debt of more than $4.8bn (£4bn/€4.8bn) according …
NTIA expresses concern over nightclub closures
The Night Time Industries Association (NTIA) has expressed its concern over the number of nightclubs that have closed down in the last three years. Statistics from data and insight consultancy CGA demonstrated that there are only 1,130 nightclubs currently open in the UK, a significant decrease compared to pre-pandemic. The data showed that the Midlands …
Western Australia extends live events support program
The Government of Western Australia has extended its live events support program to include rescheduled shows. The Getting the Show Back on the Road+ (GTSBOTR+) scheme was originally set up to reduce the financial risks of running a ticketed event during the pandemic. It has now been extended to include rescheduled events. GTSBOTR+ allows for …
Glastonbury Festival records £3.1m loss in 2021
Glastonbury Festival recorded losses of up to £3.1m ($4.2m/€3.7m) in 2021, after having to cancel its second event in a row due to the ongoing COVID-19 pandemic. Organisers confirmed that the Somerset-based music festival would be cancelled for the second year in a row at the start of 2021. According to documents obtained by Billboard, …