Stagecoach and Coachella are delayed. What does that mean for the entertainment economy?

As more people stay home to protect themselves from coronavirus, they’re spending less money, and that could continue to hurt global and local economies. Companies are canceling or postponing conferences and events.

This afternoon, concert promoters Goldenvoice announced that Coachella and Stagecoach music festivals are now pushed to October. The two spring festivals, both originally set for April, generate more than $1 billion and attract hundreds of thousands of people to the desert annually.