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.
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
Read more at: https://www.coindesk.com/surveying-the-carnage-movies-sports-and-education-in-crisis
