Bulletin YOUR DAILY ENTERTAINMENT NEWS UPDATE APRIL 14, 2020 Page 1 of 17 INSIDE Fans Are Ready for Concerts Once • iHeartMedia Pandemic Ends, Though Timing and a Signals Furloughs, Cost Savings Amid Vaccine Are Top of Mind: Survey Coronavirus Crisis • Pandemic BY GLENN PEOPLES Complicates Nashville’s Already With nearly all U.S. states under shelter-at-home going to work, attending school, opening retail stores, Fragile Studio orders and concert venues sitting empty, music fans all with social distancing guidelines. But large gather- Business: ‘We’re show little hesitation to experiencing live music again. ings such as music concerts and sports events might Dealing In This Unknown’ A survey by MRC Data found 59% of respondents not be allowed. are willing to attend a live event again within two In contrast to a youthful, “you only live once” at- • Paradigm Extends months after the pandemic ends or a vaccine or treat- titude, younger consumers were more likely than the Deadline for ment becomes available. general population to indicate they will never attend a Temporarily Laid Among the survey’s findings: live event — 7% of teens and 3% of millennials. Off Employee Fund Applications • 29% of respondents would attend a live event less But teens are also the most eager to attend live than one month after the pandemic passes or a vac- events, with 53% saying they would attend a live event • Neumos in Seattle, cine or treatment is available. within a month compared to 25% of millennials and in a Pandemic: ‘We’re • 21% of people would return to live events after 29% of the general population. And 38% of teens are So Forgotten, It Is Fascinating’ five or more months. willing to attend an event with 500 or more people. In • 2% of respondents would never again attend a live contrast, 49% of millennials prefer crowds under 100 • Liberty Media event. people. CEO’s 2019 Pay Soars A vaccine “that can be used in a mass vaccination MRC Data — formerly known as Nielsen Music 118% to campaign” would take 12-18 months to develop but an until acquired by Billboard’s parent company, Valence $44 Million experimental vaccine safe for limited trials could be Media — surveyed 945 people aged 13 and over who ready within months, Marian Wentworth, presi- had attended a live event in the previous 12 months. dent and CEO of Management Sciences for Health, MRC Data carried out the survey from March 25 recently told The Guardian. People could return to a through March 29. level of normalcy before a vaccine is widely available: (continued) ACCESS THE BEST IN MUSIC. A DIGITAL VERSION OF EVERY ISSUE, FEATURING: COVER STORIES . SPECIAL REPORTS . CHARTS . REVIEWS INTERVIEWS . EVENT COVERAGE & MORE AVAILABLE FREE TO CURRENT BILLBOARD SUBSCRIBERS billboard.com/iPad BILL WITHERS 1938-2020 Sometimes in our lives we all have pain We all have sorrow But if we are wise We know that there’s always tomorrow Lean on me, when you’re not strong And I’ll be your friend I’ll help you carry on Page 3 of 17 IN BRIEF At the time, 65% of respondents had available, an infected concertgoer would self-isolated to their homes and surround- still need medical treatment, a problematic iHeartMedia ing areas and 70% had maintained distance outcome given many people will be unem- from others. ployed, uninsured or both. And short of Signals Furloughs, MRC Data’s inquiry can be approached requiring proof of vaccination for admission from a different angle: how many people to a venue, a promoter would have no way of Cost Savings would attend a live event before a vaccine knowing which concertgoers pose a danger is available. A new survey by Seton Hall to others. Amid Coronavirus University found 72% of Americans said The U.S. could look at China as a model they would not attend games without a vac- for “the new normal,” Bill Gates said in an Crisis cination. Only 13% of respondents said they April 7 interview with PBS Newshour. would feel safe attending a game as they did “They are sending people back to work, but BY ETAN VLESSING before the pandemic. they’re wearing masks. They’re checking An 18-month timeline isn’t unthinkable. temperatures. They’re not doing large sport- adio and audio giant iHeartMedia Zeke Emanuel, vice provost for global ing events. And so they have been able to has begun to cut senior manage- initiatives and director of the Healthcare avoid a large rebound.” ment pay and furloughed “non- Transformation Institute at the University But the thrust of the survey’s findings re- essential” staff as it eyes around of Pennsylvania, told The New York Times main: nearly all people — to the tune of 98% R$250 million in cost savings this year amid Magazine that large-scale gatherings such — are willing to leave their homes when this the coronavirus pandemic. as concerts and sporting events would not is over and trade their computer speakers The news comes as entertainment compa- return until “fall 2021 at the earliest.” for a booming P.A. system. nies have been looking to preserve cash Of course, nobody can say when a pan- Read the full report. and reduce expenses, in some cases also via demic ends. Social distancing practices layoffs, to manage the uncertain fallout from could remain well after shelter-in-place the virus crisis. orders are lifted. Experts believe a second “We moved quickly to respond to the wave of infections is likely to happen when economic downturn resulting from the social distancing restrictions are eventually COVID-19 pandemic in order to mitigate lifted. What’s more, some experts believe some of the business impact and to better the U.S. will have rolling shelter-in-place position ourselves to take advantage of an rules for the next 18 months. eventual recovery when normalized demand And concerts could quicken additional returns,” said Bob Pittman, iHeart’s chair- outbreaks: just because a vaccine is available man and CEO, in a statement. doesn’t mean all concert attendees would John Malone’s Liberty Media, via audio be vaccinated. Even if a treatment were entertainment giant SiriusXM, owns a 4.8 DECISIVE INTELLIGENCE. DELIVERED DIGITALLY. 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The measures Pandemic had tested positive for COVID-19 after at- taken include reducing compensation for tending a 15-minute meeting at Black River’s “senior management and other employees,” Complicates nonstudio wing. In short order, the company furloughing other staff considered “non- canned a program that allowed tourists to essential,” suspending new hiring, travel Nashville’s view live recording dates, and Black River and entertainment expenses and cutting sessions went dormant on March 17. discretionary expenses. Already Fragile Ocean Way — which has counted Garth iHeartMedia on March 26 first withdrew Brooks, Dierks Bentley and 5 Seconds of its 2020 financial guidance and said it had Studio Business: Summer among its clients — held one final shored up its liquidity by $350 million by session on March 16, keeping the place tapping into a revolving credit facility to ‘We’re Dealing In open to accommodate a two-and-a-half- boost its financial flexibility. “iHeartMedia hour commercial session for ad executives believes that the major actions announced This Unknown’ who flew in from out of town. Bassist Mike today - in combination with the company’s Brignardello and keyboardist Steve Nathan highly resilient capital structure — will BY TOM ROLAND brought in sanitizer to safeguard their work substantially expand the company’s finan- areas, director of operations Pat McMakin cial flexibility, provide sufficient liquidity f you’re looking for peace and quiet, recalls.