The National Independent Venue Association’s survey of independent concert venue owners in the United States has found that 90% of them expect to shut down permanently in a few months if no federal funding becomes available.
“Venues have zero revenue, but obligations like mortgage/rent, bills, loans, taxes, and insurance continue. We have no work to offer our employees for the foreseeable future. The shutdown is indefinite and likely to extend into 2021 as our venues are in the last stage of reopening,” NIVA stated.
? NIVA UPDATE!
Read our Recent Press Release: https://t.co/An101NZT3Z
Updated Fact Sheet and Policy Ask Doc: https://t.co/5RgD3RdOqj pic.twitter.com/fQgw1MuKO8— National Independent Venue Association (@nivassoc) June 9, 2020
This report comes as the country ends its third month in the COVID-19 era. Major festivals like Coachella, Rolling Loud and SXSW have been shut down for the remainder of the year. In addition, larger venues owned by the likes of Live Nation also remained closed. Pollstar estimates that venues can expect to lose $9 billion in ticket sales if venues can’t reopen in 2020.
With health experts expecting a second wave of COVID-19 in the fall, it is difficult to predict when large concert venues can expect to reopen. In the meantime, artists continue to turn to live streaming and virtual concerts.
