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Covid-19 Strikes Devastating Blow to the U.S. Arts Sector

This is a syndicated repost published with the permission of Statista | Infographics. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Along with tourism, there aren’t many parts of the economy which have been harder hit by the pandemic than the performing arts. Underscoring the devastating blow to the industry, data from a collaboration between TRG Arts and Purple Seven based on 80 venues in the United States shows year-on-year falls in revenue of over 90 percent in each of the last three months.

As this infographic illustrates, the first major hit landed in March as measures were introduced around the country to curtail the spread of the virus, equating to a 53.3 percent drop compared to March 2019.

This chart shows the year-on-year change in ticket revenue for U.S. performing arts venues in 2020.

change in us arts sector revenue pandemic

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