In Germany, there are over 10,000 festivals in a regular calendar year to pick from (non-COVID times), with the 2019 year having made a colossal USD$1,587,000 from Music Festivals alone (statista.com). In the UK, the 975 notable music festivals of 2019 contributed a mammoth £1.76bn to the overall UK GDP, supporting around 85,000 jobs (Financial Times).
With the pandemic somewhat coming to a slow outro (Justin Bieber's "Justice" World Tour has just been confirmed from Sept this year, so the pandemic must be ending sometime before then one would adduce), DJs will be looking once again to insure their turntables, speaker sets, and to set up a cancellation fund that gets paid into by their employer's insurer, if the their gig gets cancelled.
We love to party, take off the stress from work with a beer, go to a friend's wedding (perhaps insurance would be more critical for stag and hen parties, given the wild acts that may lead to harm or injury and sometimes even cancellation of the wedding - a cancellation fund for that perhaps?) and recharge in various other social scenes, but sadly fail to recognise the business that goes on behind all this pleasure.
Big Event Planner corporates such as AEG (who organise Katy Perry's concerts) for instance, are constantly looking for reliable Financial Advisors, Brokers, Planners and the like, to partner with in having their insurance structured to suit their needs and wants as bespoke as possible.
Even on a small scale, in developing markets such as Mexico and South Africa, the ROI on selling short-term insurance for photographers, vendors, exhibitors, suppliers, theme artists, and brokering in cancellation funds for performing artists and event planners; deffos beats that of selling car-insurance and life accidental cover 11 times out of 10. It's worth considering and investing your networking and intuitive efforts into.
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