Exclusive: How COVID-19 has affected the global dance music industry & 15 other key points from the 2020 IMSibiza Business Report
who earned $40 million and who reportedly signed a 2-year Kaos LasVegas deal worth $60 million.
The pandemic has particularly impacted the summer festival and Ibiza seasons, and it remains to be seen whether some events will be able to take place later in 2020. Live streams, drive-in gigs and virtual events will generate some revenue in the meantime. The current club and festival alternatives being trialled are unlikely to be commercially viable for venues ongoing.
Livestream events have included Beatport's pair of Re:Connect events, which raised roughly $260,000 and drew 23 million views, David Guetta's United At Home Event In Miami, which raised $1.25 million and drew 50 million viewers, the Defected Virtual Festival, which raised $1.2 million dollars and drew 18.5 million viewers, and Digital Mirage, which raised $370,000 and drew four million viewers.
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