As previously seen in What Cannabis Can Be
Summer 2021 is nearing and there is a sense of optimism in the air. In Canada, 60.3% of people have received one vaccine as of June 8, 2021. As we get back to normal, it is time to consider how the live entertainment industry can thrive once again.
The Covid-19 pandemic has impacted the global concert industry tremendously. In 2020 the industry “lost $9.7 billion in ticket sales alone, according to Pollstar, with another $30 billion lost in sponsorships, concessions, merchandise, and other ancillary factors.”. With these losses in mind, the industry needs to take a creative approach to its reemergence.
This is where the cannabis sector can come in.
Cannabis has been legalized in Canada since October 2018, yet we still see a hesitancy from consumers to embrace its potential. Our Lady Peace frontman Raine Maida explains, “the music itself is changing rapidly, and people are excited to be in front of artists they love”. The industry should recognize the metamorphosis it is going through and use the period of change to capitalize on legal cannabis.
Adding cannabis to live entertainment spaces impacts how artists create and design their shows but also how consumers experience these revitalized spaces. For consumers, it creates new ways for them to experience the art they love. For artists, cannabis opens the door to new artistic expression. As Raine Maida explains, “On a visual level, we’ve always thought of that anyway. Most artists would tell you that. It’s about escapism and a journey. This is a much better fit with many artists.”. Allowing cannabis at venues gives artists a new way to explore their art and the audience new experiences.
Furthermore, cannabis unlocks new revenue streams for the industry. This is particularly relevant when considering the road to recovery. Venues could sell a variety of cannabis products, including cannabis beverages. LOOP/POOL CEO Ian Kwechansky points out, “alcohol can be five times more expensive at a venue [yet it still sells]. Cannabis is an additional revenue stream that artists can accept or not.”. Similar to alcohol, cannabis can be used to augment live entertainment experiences while providing a source of revenue to venue owners and sponsors.
As Canada starts to recover from the impacts of Covid-19, every sector is evaluating how to get back to normal. For live entertainment, including cannabis in the industry will not only help the sector recover financially, but allows it to thrive creatively. Adding cannabis to live entertainment is the right decision for everyone involved.
