The concert promotor has copped a beating after the tragic concert, which saw many lose their lives.
Background: Live Nation are a US events promoter and venue operator...and if you've been to a concert in the last two decades, chances are it's been promoted by them. Think Dua Lipa, Billie Eilish, The Veronicas...you name it.
What happened: The company were behind rapper Travis Scott's Astroworld concert, which saw some concert-goers lose their lives due to stampedes.
What else: After the event, the rapper was hit with more than 30 lawsuits, and Live Nation saw their share price dip nearly 10%. But, this could be just the tip of the iceberg as far as brand damage goes.
💡Brand trust is arguably the most important asset that a company holds with their customers and fans.
💡When a brand doesn't live up to its promises (like running a safe concert), customers' perceptions can change for the worse - aka brand damage.
💡Often when we see big scandals, brands disassociate themselves with the celebrity involved. We saw:
And as we hear more about the events that happened that night, Travis Scott could find himself in a bit of brand trouble.
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