iHeartRadio Music Awards Cancelled Over Coronavirus Concerns

iHeartRadio Denver (photo: Jeffrey Beall CC by 4.0)

The coronavirus (COVID-19) pandemic has resulted in the indefinite postponement of yet another much-anticipated music-industry event: the iHeartRadio Music Awards.

iHeartRadio took to Twitter this morning to announce the cancellation. The company’s message reiterated that the iHeartRadio Music Awards’ venue, the Shrine Auditorium in Los Angeles, will remain closed until at least the end of the month. Last week, California government officials discouraged public gatherings of more than 250 people from moving forward.

The cited statement also indicated that refunds are being issued to ticketholders presently, and that the health and wellbeing of “guests, employees, artists, and partners is our [iHeartRadio’s] main priority.” The awards show had been set to broadcast live on Fox, and it’s anticipated that the rescheduled ceremony will appear on the network.

Moreover, a new date for the iHeartRadio Music Awards hasn’t been established, but Fox and iHeartRadio “will provide more information and relevant updates as they become available.” iHeartRadio’s awards event was initially scheduled to take place on March 29th.

Usher had been booked to host the ceremony, and Justin Bieber and Lizzo, among others, were expected to perform live. Additionally, Billie Eilish, Taylor Swift, and Ariana Grande have received multiple nominations.

On Twitter, responses appeared to be generally supportive of the decision to postpone the awards show. Many follow-up tweets, however, were published by passionate fans—especially those of South Korea’s BTS—as the iHeartRadio Music Awards’ voting process will continue through March 23rd. BTS has been nominated for “Best Music Video” and “Best Fan Army,” and votes can be cast via iHeartRadio’s website or through Twitter.

An array of music-industry artists, event organizers, and companies, including iHeartMedia, have been impacted by the coronavirus pandemic. Besides the cancellation of the iHeartRadio Music Awards, iHeartMedia has grappled with a significant stock-price downturn. To be sure, the company, traded under the symbol IHRT, has seen its per-share price drop from approximately $17 one month ago to somewhere in the ballpark of $9.

Concert-promotion giant Live Nation has experienced a similar stock-price dip, from a per-share high of about $75 one month ago to a current value of roughly $37.

 

 

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