Photo by Artem Beliaikin on Unsplash Production of boiler chickens (those raised for their meat, not eggs) in the US...
WSJ: “How Coronavirus Is Ushering in a New Era of Concerts”
Since thousands of concert venues around the world remain closed due to coronavirus, many artists have taken to social media to stream live performances. These innovative concerts draw in huge online audiences but are no replacement for the revenue generated by live shows. This video looks at how the music industry is hoping to earn cash from unorthodox venues, such as drive-in concerts and video game tie-ins.
Discussion Questions:
- Are live concerts, free online concerts, and music sales substitutes or complements for each other? Explain.
- In what ways might one argue that different forms or artist engagement (music, live concerts, online free concerts) a form of price discrimination?
- What other industries have suffered a significant disruption due to the COVID-19 pandemic? How have those industries tried to adapt to changing demand for their product or a disruption in their standard business?