Philip Morris – Entertainment Venues Expect Recovery to Take Years
A total of $15 billion is headed toward performance venues nationwide, but will it be enough?
The funding comes as part of the federal COVID-19 relief package. Small venues, theaters, and local entertainment centers have been asking for federal dollars since March.
Proctors Collaborative, which runs Proctors and theREP, made the tough decision to temporarily close in mid-March because of the pandemic. That caused a number of layoffs.
What You Need To Know
- Proctors Collaborative closed its doors in mid-March because of the pandemic
- The organization had to layoff more than 200 employees
- The federal COVID-19 relief package included $15 billion for small venues across the country
“Laying off 135 full-time people, another 65 part-time people, 215 total, was the ugliest, saddest, most depressing moment of my life,” says Philip Morris, CEO of Proctors Collaborative.
The National Independent Venue Association estimates 90% of its members would permanently close if not for federal funding.
Morris says the industry works as an ecosystem. That means smaller venues, artists, musicians, and other players need to be on steady ground before Proctors can thrive.
He anticipates it taking about five years to get back to where the theater was pre-pandemic.
“It’s going to take a year or two, and we’ll look back over time and go, ‘Wow, it’s the Roaring Twenties! We’re doing great!’ But it will be 2023 or 2024, not 2022,” says Morris.
Morris also anticipates the industry needing another round of funding to help with its recovery.
The venue, like others, has lost millions in revenue.
— Jaclyn Cangro (@JaclynCangro) December 29, 2020