Surveying the Carnage: Movies, Sports and Education in Crisis

As the COVID-19 crisis grows, some industries will recover quickly, but some won’t recover at all. In this episode we help you understand which is which.

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This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund.

This is the second in a series of episodes on how the economic crisis is challenging and transforming different industries. NLW looks at:

Movies:

Direct releases are already making more than box office counterparts
AMC is on the verge of bankruptcy (or buyout by Amazon)
Production is on hold; even when it resumes, likely to have strict rules on how it is carried out

Sports:

Depending on your study, between 61% and 72% of people surveyed say they’re unlikely to go to live sporting events even after lockdowns are lifted
Colleges losing $18B+ in sports-related revenue
eSports alternatives surging, with conversations on Twitter up 71%

Advertising:

Industry took eight years to recover from the Great Financial Crisis
Ad spending already down massively in March/April - down 38% in digital, 41% on TV, 45% on Radio, 51% on outdoor.

See also: The Rise of the Dollar Killers

Education:

Of public schools, only 22% are offering any live instruction
Before crisis, college debt had increased 107% between 2009 and 2019
Since the 1980s, the cost to attend college has grown eight times the growth in wages
Estimates of 15% fewer enrollments and $23 billion in lost revenue

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Nathaniel Whittemore

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