BREAKDOWN: Surveying the Carnage... Movies, Sports and Education in Crisis
Some industries will recover quickly, but some won’t recover at all. Surveying the Carnage helps you understand which is which.
May 14, 2020
Host
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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 and 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 8 years to recover from Great Financial Crisis
- Ad spending already down massively in March/April - down 38% in digital, 41% on TV, 45% on Radio, 51% on outdoor.
Education
- Of public schools, only 22% are offering any live instruction
- Before crisis, college debt had increased 107% between 2009-2019
- Since the 80s, cost to attend college had grown 8x the growth in wages
- Estimates of 15% fewer enrollments and $23B in lost revenue
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