MARCH 28, 2020 • VOLUME 132^ NO. 7
Contents
ON THE COVER
Illustration by Mike McQuadeTO OUR READERS
Billboard will publish its next issue
on April 18. For 24/7 music coverage,
go to billboard.com.The Theatre at Ace Hotel photographed by
Brian Guido on March 17 in Los Angeles.FEATURES
36
THE NEXT STAGE
The concert business
shutdown is creating a credit
crisis that’s choking indie
promoters. The industry that
emerges when it’s done will
be more competitive — and
concentrated — than ever.COVER ILLUSTRATION: SCIENCE PHOTO LIBRARY RF/GETTY IMAGES42
LIVE THROUGH THIS
How to create — art,
cash flow and new
opportunities — amid a crisis.44
MERCH MADNESS
From light sticks to fish
sticks, a dazzling array of
branded goods has K-pop fans
shelling out the equivalent of
thousands of dollars a year
to support their favorite acts.
How much is too much?6 BILLBOARD • MARCH 28, 20207toc_lo [P]_27848196.indd 6 3/25/20 1:45 PM