Peter Aiken Warns of Concert Cancellations Amid Rising Oil Prices

Music promoter Peter Aiken has warned that increasing oil prices due to the war in Iran could lead to widespread concert cancellations across Ireland and globally. Speaking at a media event marking the start of the summer concert season in Cork, Aiken highlighted concerns that rising travel costs and flight disruptions will severely impact the entertainment industry.

“When you see Lufthansa cancelling 20,000 flights, Aer Lingus cancelling 500, it’s going to trickle down to the concert industry eventually,” he said. “I’d say you’ll see shows being cancelled left right and centre.”

Impact on Major Irish Events

Aiken confirmed that this year’s Live at the Marquee gigs are “all locked in,” but warned that prolonged oil price increases could jeopardize future events. He also noted that the All Together Now festival over the August bank holiday weekend is being safeguarded through early fuel procurement, as the Waterford-based event relies entirely on generators for power.

“For All Together now, we’re going to attempt to receive the fuel now given that we’re doing a festival in the middle of Waterford and it’s got no electricity. Everything is powered on generators and fuel — everything,” Aiken explained.

Broader Industry Concerns

Aiken stressed that the issue extends beyond Ireland, predicting major tour cancellations worldwide if fuel costs continue to rise. “Unless things improve over the next month, I think you will see major tours cancelling worldwide, not just Ireland. It will just cost too much money to go on the road,” he said.

Experts have warned that diesel prices could reach €4 per litre by the end of the year, with oil prices potentially not returning to pre-war levels until 2027 and gas prices until 2028.

Government Monitoring

The Irish Government has stated it will monitor any potential surge in oil prices due to the outbreak of violence in the Middle East, with opposition parties calling for immediate action to mitigate economic impacts.

As the summer concert season unfolds, industry leaders like Aiken remain vigilant, preparing for potential disruptions while advocating for measures to protect live music events from external economic pressures.