Ariana Grandes promoter is facing an estimated payout of £300,000 following the cancellation of several tour dates due to last months terrorist attack at Manchester Arena. Concerts scheduled for May 25 and 26 at Londons O2 Arena were cancelled, as well as the succeeding ones for Belgium, Poland, Germany, and Switzerland. “The show must go on” did not hold true at least in the case of these locations, but thankfully the tour was insured by Lloyds of London. “While financial concerns are always a distant second to human ones, stopping an 80-date tour in its tracks is a costly decision and comes with collateral risk. Cancellation insurance might not cover the loss of revenue, such as ticket-holder refunds, grounded personnel and equipment, and transportation and cargo costs that come with rerouting the massive production,” said a Variety report.
Read Full Article