Global leaders in music and entertainment are coming together to develop a unified plan on how to respond to coronavirus. Live Nation, AEG, Creative Artists Agency (CAA), William Morris Endeavor (WME), Paradigm and United Talent Agency (UTA) have released a joint statement stating that they are working on how to keep fans and artists safe, Rolling Stone reports.

“The world’s leading forces in live entertainment have come together to form a global task force to drive strategic support and unified direction ensuring precautionary efforts and ongoing protocol are in the best interest of artists, fans, staff, and the global community,” the statement reads. “At this time, we collectively recommend large scale events through the end of March be postponed. “We continue to support that small-scale events follow guidance set by their local government officials. We feel fortunate to have the flexibility to reschedule concerts, festivals, and live events as needed, and look forward to connecting fans with all their favorite artists and live entertainment soon.”

The touring industry has been hit hard over the past few weeks, but as more and more businesses are taking precautionary measures to deal with the coronavirus, so apparently is Live Nation. It was originally reported by Billboard that the touring giant was planning to pause all national tours domestically and internationally.

According to the report, the company revealed to employees on Thursday (March 12) that current touring arena shows through the end of the month will be affected by the decision. A few shows will still take place this Thursday (March 12) and Friday (March 13), but all remaining shows will be postponed beginning this weekend.

Live Nation is reportedly instructing those involved with touring shows to prepare to return home. Meanwhile, Live Nation employees are being instructed to work remotely rather than coming into the office. The Beverly Hills headquarters are expected to be mostly closed through the end of March.

A re-evaluation of the situation is expected to come later in the month as the company explores the options for April touring and beyond.

"On a call, company executive told employees that March is generally a slow month and that Live Nation will re-evaluate the situation at the beginning of April with the goal of resuming touring in May or June," the Billboard piece reads.

These actions follow what has been a freefall for the touring industry as countless artists have postponed tour dates both abroad and within North America. Major festivals, such as SXSW and Coachella, have been canceled and postponed respectively.

The World Health Organization (WHO) has officially declared the global coronavirus outbreak a pandemic. For more info and best practices to stay safe, visit WHO's website.