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ICCC's Thursday Talks -10: Covid-19 and Sports & Entertainment
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The Covid-19 pandemic has devastated the Sports and Entertainment sector in Canada.
It is estimated that the lockdown will cause a $2.5 billion hit to the media and entertainment sector, impacting over 172,000 jobs.
The lockdown has changed entertainment consumption patterns, resulting in exponential growth in streaming services such as Netflix and Amazon Prime.
Similarly, in the spectator sports sector, social distancing has resulted in the postponement or cancellation of many high-profile events, which severely constrains demand.
More than one-quarter of revenue is generated from admission to live events. Even if leagues resume their seasons, government social distancing guidelines may require these events to be played without fans, which would further reduce revenue.
Federal government announced $500 million allocation under the Covid-19 Emergency Support Fund for Cultural, Heritage and Sport Organisations to bolster Canada's arts, sports and cultural sectors as they weather the COVID-19 pandemic. But is that enough?
ICCC has invited an expert panel to discuss the impact of the pandemic on the sector.
Panelists:
Sunny Gill, Founder & President, IFFSA Toronto
Cary Kaplan, President, Cosmos Sports & Entertainment
Gurdeep Ahluwalia, Host/Anchor CP24 Breakfast
It is estimated that the lockdown will cause a $2.5 billion hit to the media and entertainment sector, impacting over 172,000 jobs.
The lockdown has changed entertainment consumption patterns, resulting in exponential growth in streaming services such as Netflix and Amazon Prime.
Similarly, in the spectator sports sector, social distancing has resulted in the postponement or cancellation of many high-profile events, which severely constrains demand.
More than one-quarter of revenue is generated from admission to live events. Even if leagues resume their seasons, government social distancing guidelines may require these events to be played without fans, which would further reduce revenue.
Federal government announced $500 million allocation under the Covid-19 Emergency Support Fund for Cultural, Heritage and Sport Organisations to bolster Canada's arts, sports and cultural sectors as they weather the COVID-19 pandemic. But is that enough?
ICCC has invited an expert panel to discuss the impact of the pandemic on the sector.
Panelists:
Sunny Gill, Founder & President, IFFSA Toronto
Cary Kaplan, President, Cosmos Sports & Entertainment
Gurdeep Ahluwalia, Host/Anchor CP24 Breakfast
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