Surveying The Carnage: Movies, Sports, and Education in Crisis

 

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