Liberty Media Corporation Chairman John Malone spoke about the future of live events during Liberty Media's annual meeting of stockholders Thursday.
Malone said he believes there will be a therapy and or a vaccine for Covid-19 "sooner rather than later that will get us back closer to normal."
"There's undoubtedly going to be a hangover in terms of valuations and like everything else if this depression in valuation is excessive, it presents opportunity for those of us who believe in the longer-term thesis that this is a good place to be, live events," he said. "Particularly where you have a substantial part of the revenue that has little to do with the gate attendance and a lot to do with television and digital distribution.
Greg Maffei, who serves as Liberty Media's president and CEO as well as the chairman of Live Nation Entertainment, Sirius XM and TripAdvisor, said the company has seen evidence that there's still demand for live events. He said "well under" 10% of concert customers have asked of refunds on postponed concerts, and mentioned there are some Atlanta Braves ticketholders that have deferred tickets instead of asking for refunds.
"There is demand for live events," he said. "The question will be what can we do in the world of vaccines and therapeutics and social distancing to make sure those work for everybody involved, safely."Why NASCAR has a great opportunity to attract a new audience by being one of the first U.S. sports to resume live events
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