Live Nation and AEG, two of the largest concert promoters in North America, have suspended all large-scale tours until the end of March as fears over the spread of the coronavirus grow.

According to Rolling Stone, who first reported the news, a joint statement from Live Nation, AEG, and four major booking agencies – Creative Artists Agency, William Morris Endeavor, Paradigm and United Talent Agency – said the companies are “working together to develop best practices to safeguard artists, fans, and staff in the concert industry.”

“At this time, we collectively recommend large-scale events through the end of March be postponed,” reads the statement. “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 suspension of touring is effective immediately with the exception of a few shows Friday night.

Earlier this week, Austin’s annual South by Southwest festival was canceled, and California’s Coachella festival has also been postponed. A number of artists had already announced the postponement of tours prior to Live Nation and AEG’s statement, including Pearl Jam.