Short on time? Here’s an overview:
If you’re a big event holder, you are starving for revenue. Your industry is desperate for a return to sold-out stadiums and theaters, roaring crowds, SRO, standing Os, lucrative television contracts – all the things that made your business successful. The only way to rebuild your revenue streams is to fill seats again. That means organizers and attendees must trust that COVID-19 carriers are excluded from the setting.
Empty Venues Are Ruining Big Event Organizers
If you’re a big event holder, you are starving for revenue. Your industry is desperate for a return to sold-out stadiums and theaters, roaring crowds, SRO, standing Os, lucrative television contracts – all the things that made your business successful.
Today’s situation is as ironic as it is bleak. At a time when people are desperate to come together over common interests, the places where they traditionally unite are largely off-limits. Whether it’s the eerie silence at once raucous sporting events, cancelled opera seasons and music tours, a dark Broadway, or empty amusement parks, the absence of enthusiastic crowds is a calamity:
- Forbes estimated that if all NFL games were played without fans the league would lose $5.5 billion.
- Disney lost $1.4 billion in just the first quarter of the pandemic.
- Early estimates for the cost of Broadway’s shutdown came to $565 million.
Unless they can fully reopen, some of these organizations may not survive. In the meantime, the ripple effect of their emptiness is devastating for those who make their living supporting them. Artists, musicians, athletes, universities, airlines, roadies, designers, valets, concessionaires – all face ruinous losses of income. Fans may lose interest permanently. Resulting tax losses imperil their communities.