The COVID-19 lockdowns of 2020 and subsequent restrictions on gatherings had a devastating effect on the creative economy. Losses to the live events industry totaled more than $30 billion, according to music industry trade publication "Pollstar," including ancillary revenues such as merchandise, sponsorship and hospitality. Even after certain restrictions were eased in 2021, the pandemic left its mark on human behavior, with 84% of people saying they were spending more time on online entertainment at home than on in-person entertainment outside it.

But this year, the industry is singing a very different tune. Music lovers have returned to the thrill of the collective experience with seemingly more passion than before. Some smaller festivals have struggled because of rising costs, with the cost-of-living crisis hitting their ticket sales, but we're seeing good demand from the spectator side, with most of the big-name festivals sold out and a lot of tours back on — although there have been some high-profile no-shows and postponements because of COVID. Looking further ahead, no one knows yet what COVID-related restrictions might be needed in the autumn and winter, but for the moment there's real hunger from fans for live events, and larger promoters are recording record numbers.