24 Sep According to Marc Geiger, the Covid-19 will give way to the "Roaring (20)20s".
A new golden age for the performing arts
Marc Geiger announces a new golden age for live music on the first day of the Interactive Festival Forum.
Marc Geiger predicted a boom in the performing arts once the threat of Covid-19 has receded, saying that the current "economy of claustrophobia" will give way to a second "crazy decade" characterised by high consumer confidence and economic growth.
Speaking at the iFF conference, the former WME world music director compared the current coronavirus pandemic to the Spanish flu, which swept the world from 1918 to 1920. Years when "everyone was locked in their homes," he said, "created a joyous period called the Roaring Twenties, and I think 2022" - his estimate of when the current pandemic will subside - "will give way to a second roaring decade 100 years later. A statement that ended the first day of the iFF on an optimistic note. They also discussed the incredible growth of music streaming and the predictions of Lisa Yang, who was conducting the interview, about the recovery of the concert industry after the coronavirus outbreak.
Ms Yang said the global industry has lost about 75% of its value this year, but by 2021 it will return to about 65% of its pre-crisis level. The recovery is likely to be complete by 2022, she added. In the medium term, Ms. Yang continued, the outlook is uncertain. "It is going to be difficult," she said. "There are so many external factors that no one can control. But from a structural point of view, I think the industry is going to recover - it's not a question of if, but when.
"ALL THOSE WHO ARE SUFFERING AT THE MOMENT: IF YOU CAN HOLD OUT, THE HARVEST WILL BE BUMPER HARVEST"
Geiger compared the festival's activity to a field of crops ("I always make analogies," he said). In 2022 - after two disrupted festival seasons - "everyone will be screaming to get out" of their homes, he said, so those who are able to survive until then will have a "bumper crop" in renewed soil.
It calls on those who can do so to put funding in place to ensure that they will be able to capitalize when social distancing is a distant memory. "All those who are suffering at the moment, if you can hold out - whether it is through financing, debt, equity - the harvest will be bumper crops," he said. "Find a way to hold on until the industry rebounds.
"The market is going to pick up at a very, very fast pace." Geiger added, "and ... when he starts up again, the rate of return will be enormous. »
"We're going to see more and more sold-out concerts, and huge consumer interest. It will be one of the few times in history when the customer will buy a beer or a hot dog and feel good waiting in line! And this beer will never taste better".
"TELL YOUR AUDIENCE THAT YOU WON'T COME BACK UNTIL YOU CAN ENSURE THEIR SAFETY AND PROVIDE THEM WITH THE ULTIMATE FESTIVAL EXPERIENCE."
Geiger ran out of time for questions from the audience, but he kindly answered some of them after the session...
You talked about "When it comes back, it's going to come back big" and "a bumper crop". What advice would you give to festival organizers for the next 12 months and to prepare for the Roaring 20's?
"Produce a virtual festival in 2021. Tell your audience that you won't come back until you can ensure their safety and provide them with the ultimate festival experience. If you don't already have one, develop a secondary show strategy. Talk to sponsors and take your home audience seriously. Raise your ticket prices!!! »
Would you like to carry out a data & CDM diagnosis of your organisation? Take advantage of 30 minutes of free consulting by reserving your time.
Share this article with your friends!
Read more on our data & entertainment blog:
Museums: Promote the re-subscription of your Museum Pass! Culturespaces presents its feedback on its collaboration with Arenametrix.
Find out how to use the right digital tools to find new sources of revenue for your museum.
Centralizing data to enhance the experience of audiences: an example of application to the Domaine de Chantilly x Arenametrix.