if you look currently on the stock prices, it looks red. However, there is the development of curves, which are currently showing a particularly steep down. The big Two of the Event industry – Live Nation and CTS Eventim promises over the years, exchange favorites with almost eerie profit. The Coronavirus, and the associated prohibitions of major events have changed the situation dramatically. The share of CTS Eventim, event multi, the last month is still broke in pompously in the Swiss market, has lost in a week, nearly 20 percent of their value. In the case of Live Nation, it was 23 percent.
If the ban is prolonged, is likely to suffer, the entire Live industry is sensitive to damage. Accordingly, according to the anticipatory hangover is among the major Swiss operators. And still greater is the uncertainty, since such a Situation in the history of the event system is unique.
"a Quasi-prohibition from practising a profession, for the industry"
Thomas Dürr with his Agency, Act Entertainment an industry leader – is one of the directly affected. Friday affichierte Hallenstadion Show "Rock meets Classic" with Alice Cooper is just one of many Events the Basel Agency that fall into the water. The appearance has been postponed until further notice. According to dissatisfied drought with the Situation: "The Federal Council has virtually pronounced a prohibition from practising a profession for my industry."
Since the authorities last Friday, have banned all events with more than 1000 visitors, he had no more income, and the cost accumulated. "If these measures are to be captured are compensations urgently needed, otherwise the organiser of the Switzerland will become extinct very soon. Some of these companies are already chipped, the margins for the larger concerts are getting smaller and smaller. It is a tough business."
drought fears that the whole story will be legal disputes, which will extend over the next few years. "What is certain is that There will be no winners."
"If this is not a force majeure, then what?"Thomas Dürr, Act Entertainment
there will be a dispute currently about whether or not a room rent must be paid, if a occasion is due to the Coronavirus has been cancelled. It asks hall operators, is the whole Dilemma clearly: indoor stadium-in-chief Philipp must port want to give any information, since it is stuck just in discussions with the insurers.
"this Is force majeure, we could ask the organizers not only previously incurred costs. The damage, however, due to official safety regulations, would have to pay the organiser the full amount." This was regrettable, but the indoor stadium had to comply with lease contracts and pay bills.
Thomas Dürr says: "If this is not a force majeure, then what? In the long term halls need good organizers, and we all need the trust of our visitors." Currently rule, the very big uncertainty.
Where there is considerable uncertainty, could help insurance companies. However, to insure an event against cancellation, is relatively expensive and will be completed by the organizers often only for the financially very high-risk Events. In addition, it is not clear whether a pandemic insurance would apply in the current scenario at all.
other provisions of the terms and conditions of business be partially unlawful. Of the same opinion, Vito Roberto, Professor of private law at the University of St. Gallen: "is not an event due to accident or force majeure, must be refunded back for the Ticket, respectively, will not be paid. This relates to the risk sphere of the organizer," the expert said, compared to SRF.
No all-clear from Bern
in addition, the Federal Department of the interior (EDI) provides for the operator in duty. Damage caused by lawful acts of government and health police measures, would be Affected itself, as stated by the Federal government.
It is the task of the organizer to check whether insurance would cover any damages. Although there are in the epidemic law a clause that mentions compensation for damages due to regulatory measures. However, this is only intended for individuals who would suffer because of a quarantine in financial difficulties, such as the EDI clarified on demand.
want to be what is the cost for the concert failures, and no one can quantify. This depends on the duration of the measures – but it is feared that because of the uncertainty of the ticket sales in the long term will break.
At ticketcorner has to have no Numbers. After all, you waivers, but in the event of any refund of the tickets on the cancellation fees. In order to gain time and contain the damage, are not currently cancelled most of the events, but moved in part, without already have an alternative date and to offer. "In the case of international Acts, it will not be realistic to find a new date, since the tour plans are to tight," says Thomas Dürr. "We have managed to determine for 10 of the 15 events already have a replacement date."
Especially the "arbitrariness", with the will, the procedure interferes with the organizer: "I would understand if you stand-up concerts would prohibit a utilization of 80 percent. But for Musicals, where people can sit at a safe distance on the chairs, I see no greater risk of Infection than in a gondola in Verbier," says Dürr. The cons of the EDI speaks: "The Situation in a gondola is different, there are only a few people could be infected. In addition, the duration of the journey is relatively short."
The musicians are the true victims of the Situation. It is not a failure of fees to be paid.
so It looks bad for the event industry. A roller coaster of feelings is also the policy: SP national councillor Jacqueline Badran calls that you should support companies that are in the tourism or in the culture and the damage suffered, with Federal funds. She is expecting a Fund of about 50 million Swiss francs. Economy Minister, Guy Parmelin however, thinks nothing of government intervention, as he explained in an Interview with SRF.
And the musicians? They are the true victims of the Situation. Most of the artists ' contracts are so written, that in the case of a concert cancellation due to force majeure, both parties from their obligations are discharged. It, therefore, does not pay default fees, advances must be refunded by the artists back. So it may come to stay as a Band even on already-paid plane tickets seats.
The big question now is, how long the situation lasts. In Japan, on may 24, is already thinking loudly about. Beginning in July cancel of the Tokyo Olympic games. It is possible that the ban could be on the summer festivals have an impact? The EDI will say nothing yet, it depends on the further development. Thomas Dürr believes: "If the authorities are capable of, because of 50 a whole industry of Diseased cripple, is also such a scenario is conceivable."
the Serenity in the discussion of the concert organizer Daniel Fontana, the Bad Bonn Kilbi would usher in Düdingen the Open-Air season at the beginning of June brings. "For us, it would be a great shame if we had to cancel the Festival, because we co-Finance with the profit our club program." You would have to make compromises, but the world would not go to the organizers of the Indie Festivals: "The great sorrow is where the big money is juggled. Or in other words: It hits the Greedy harder than the Curious."
Created: 03.03.2020, 18:29 PMUpdated Date: 03 March 2020, 18:01