BREAKDOWN: Surveying the Carnage... Movies, Sports and Education in Crisis
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 14 May 2020
⏱️ 32 minutes
🧾️ Download transcript
Summary
This episode is sponsored by ErisX, The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund.
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
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Transcript
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| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond. |
| 0:12.0 | This episode is sponsored by ArisX.com, the Stellar Development Foundation, and Grayscale Digital Large Cap Fund. |
| 0:20.0 | The Breakdown is produced and distributed by CoinDesk. |
| 0:22.6 | Here's your host, NLW. |
| 0:29.6 | Welcome back to The Breakdown. |
| 0:31.7 | It is Thursday, May 14th, and today we are doing the second in our series of surveying |
| 0:37.4 | The Carnage. Now, this is a series |
| 0:39.5 | basically that is looking at the economic fallout of the coronavirus crisis and the shutdowns |
| 0:46.2 | across a number of different industries. And the purpose of this is to move beyond our analysis |
| 0:50.8 | of what second and third order effects might occur to actually understand |
| 0:54.9 | which second and third order effects are occurring and how they are playing out in specific |
| 0:59.2 | industries. In the first episode, which I released last week, I looked at three industries |
| 1:04.1 | travel first, one of the more obviously impacted by coronavirus and COVID-19. I looked at music and the concert industry, one of |
| 1:13.0 | the industries that is likely to feel the impacts of this for the longest period of time and |
| 1:17.6 | the most completely. And finally, I looked at real estate from both a residential and a commercial |
| 1:23.3 | perspective. In this updated edition of surveying the carnage, we're going to look at the film industry, |
| 1:29.7 | at sports, at advertising, and then at one, which I think is potentially the highest impact to the way |
| 1:36.0 | that the world is organized in the long term, higher education. So let's dive in. We started last |
| 1:42.6 | week with the music industry and entertainment space. |
| 1:45.0 | So let's start this week with the film industry and the sports space. |
| 1:49.0 | The film industry from the standpoint of movie theaters was already hurting. |
| 1:53.0 | Over the last three years, movie theater stocks and companies like AMC were down roughly 75%. |
... |
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