Revenue / 06.09.21
Pulling Rabbits Out of a Hat: How NYC Theaters Survived COVID — or Didn't
The Real Deal (06/04/21) Larsen, Keith
With Broadway's September reopening looming, smaller theaters in New York City have found surviving the COVID-19 pandemic significantly harder, and complain that the government has not sufficiently supported them. Although many venues are eligible for the federal Shuttered Venues Operating Grant (SVOG) program, its launch has been delayed, leaving landlords and theater owners swamped by overdue rent. Few theater companies own their space, and have less negotiating power with landlords. New York State has suspended commercial evictions and foreclosures since the pandemic began, but that protection could expire this summer. Randi Berry of IndieSpace, a group that helps independent theaters arrange leases and find venues, says while some were able to obtain federal Paycheck Protection Program funding, many missed out because of their reliance on volunteers or part-timers. Some theater owners claim the SVOG application process was too complicated for small organizations, while the nonprofit League of Independent Theaters lists 14 theaters on its website that have shuttered due to COVID. Meghan Finn with the Tank, an off-off-Broadway venue, said the nonprofit theater switched to virtual performances. Other theater operators are waiting for clearer guidance about NYC's reopening before resuming live shows.
Read the full story from The Real Deal.
Tags: Theater , News , Broadway , COVID-19 , Coronavirus