Leadership / 09.30.20
2020 State of the Industry Survey Results: A Transformational Moment
Pollstar (09/25/20) Gensler, Andy
Pollstar and VenuesNow's 2020 State of the Industry Survey indicates that the pandemic crisis has led to pleas for help from independent venues and others, as well as innovation and entrepreneurship. The poll considers the live entertainment industry's handling of the situation; the likely shape that the rebound will take; and social issues, inclusivity, and diversity within the industry on the heels of racial and civil unrest. The fact that 11% of respondents identified their occupation as "other" — mostly hybrid titles like Owner/Talent Buyer/Promoter/Manager or Artist Manager & Record Label — adds credibility to an increasingly un-siloed industry environment where expansive skill sets feed into other verticals where multiple responsibilities are routine. Moreover, 54.7% of respondents expect the industry will return to full capacity in 2021 compared to 30.6% who do not expect it until 2022. Eagerness for a return to work also is evident, with 60% saying they would go to work immediately if health guidelines are followed, including 17.6% who said they would go back to work unconditionally. Meanwhile, 75% said they are prepared to resume operations at less than full capacity, while being clear that partial reopening is not a long-term solution. To ride out the crisis with diminished revenues, the survey suggests the live industry is employing various approaches, like requesting government assistance such as Payroll Protection Program funds, low-interest loans, raising capital, and more. Most respondents agreed that the post-COVID live industry ecosystem will have increased sanitization protocols in place, cashless/touchless technologies, screening of attendees, and less capacities/social distancing.
Read the full story from Pollstar.
Tags: News , Venues , Leadership , COVID-19 , Coronavirus