Change the name... Concert giant Live Nation saw a 98% drop in sales because there's nothing live about this nation at the moment. The quarter ending in June is usually Live Nation's biggest thanks to #FestivalSzn and huge summer tours. But since Coachella was Nochella, ticketing sales actually came in negative (lots of refunds). Experimental drive-in concerts haven't matched packed arena revenues. Still, 86% of fans decided to keep tickets for rescheduled shows, saving Live Nation serious musical money.
No more "pass the AUX cord"... Uber and Lyft will likely shut down in California after a judge ordered them to treat drivers as employees instead of gig contractors starting August 20th. The ride-hailers would have to provide benefits like overtime, making employees and rides more expensive. They say this threatens to kill their ever-unprofitable companies during a time when rides have plunged. Now they're urging California riders to vote on Prop 22 in November, which guarantees drivers some benefits (like healthcare) while keeping their status as independent contractors.