FINANCIAL REALITY OF CORONAVIRUS FOR TOURING BANDS HITS HOME FOR VISIONS OF ATLANTIS
14 March 2020
With global Heavy Metal tours having to be scrapped due to the Coronavirus disaster, the financial burden for the music industry has never been so dire.
This is especially true when gigs are cancelled mid-tour, where cash outlay has already happened and the expected door receipts and merchandise sales are snatched from the balance sheet.
For Visions Of Atlantis, who were mid-tour in the USA with Dragonforce, this shortfall is exceptionally large and the band have created a GoFundMe page to help sell some merchandise to recover some expenditure.
Given that there is only a slim chance their April headline tour will happen, the opportunity to recover some of the losses will disappear and Visions Of Atlantis state there is a chance that the band would either be unable to invest in future tours or even become bankrupt.