New York's major cultural institutions — including all Broadway theaters and the Metropolitan Museum of Art — are closing their doors after Gov. Andrew Cuomo banned gatherings of more than 500 people to curb the spread of coronavirus.
have been prohibited, which is affecting big venues and small rock clubs alike. Meanwhile, performances at colleges and universities across the US have been canceled or postponed, too, as campuses shut down.Americans for the Arts"The good news is that the economic impact of just the nonprofit arts in America is $166 billion annually," he says."But the bad news is the loss of that is equally significant on the American economy.
He says that the potential economic impact to all of these cancellations and postponements is real and potentially devastating, especially to nonprofit presenters and to artists who aren't megastars. "The individual artist is highly at risk here and probably in many, if not most, cases has the slimmest of economic safety net set up in order for them to survive," he says
The coronavirus effect won't just be felt by performers, venues and audiences, Lynch says. When live performances and other events don't happen, all kinds of other companies lose money, too, like bars, restaurants and hotels.
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