Some rather grim news is in the works by the looks of it for indie venues around the world. Especially in USA, according to a report developed by National Independent Venue Association (NIVA), it has been declared that the relief funding will not go far if the lockdown is extended for months due to the COVID-19 pandemic.
The report released on Tuesday stated clearly that, “Independent venues were the first to close and will be the last to reopen.
NIVA reported on indie venues, saying, “Venues have zero revenue, but obligations like mortgage/rent, bills, loans, taxes, and insurance continue. We have no work to offer our employees for the foreseeable future. The shutdown is indefinite and likely to extend into 2021 as our venues are in the last stage of reopening.”
Earlier we did a report on the future of music concerts and future of music concert clothing. But those days are much ahead of us. Till then the payrolls, benefits and fixed operating costs are to be looked after and the situation looks grim for indie venues on all those fronts if the COVID-19 shutdown continues for six months or more.
In the wake of this, a bipartisan Restart legislation was introduced that would ask permit for flexible use of loan proceeds and loan forgiveness.
By: Nupur Saraswat