Can the Arts Recover?

Prognosis: Misconception

Bloomberg

Health & Fitness, Science

4.1 • 838 Ratings

🗓️ 26 February 2021

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

New York City’s museums, sports arenas and entertainment venues are slowly coming back to life. But the sector has contracted dramatically under the pressure of the global pandemic. Jobs in arts, entertainment and recreation fell the most of all the city’s economic sectors, erasing a decade of gains in what was one of New York’s most vibrant industries. Spencer Norris explains what that means for cultural institutions, and the city that was one of the sector’s biggest boosters.

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0:00.0	What could you do if your data was working for you and not against you? With Bloomberg delivering
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0:24.0	Our data is made for more, so you can show the world what you're made of. Visit Bloomberg.com slash enterprise data to learn more.
0:30.9	Welcome to Prognosis. I'm Laura Carlson. It's day 349 since coronavirus was declared a global pandemic.
0:41.3	Today's main story, the arts once thrived in New York City. But that's the industry that has lost the most jobs in the pandemic.
0:52.4	And it's not yet clear what could bring those jobs and that
0:57.8	vibrant culture back. But first, here's what happened in virus news today.
1:10.1	A panel of outside advisors to the U.S. Food and Drug Administration are vetting the Johnson and Johnson coronavirus vaccine today.
1:20.2	It's one of the final steps toward likely authorization of the country's first one-dose immunization against COVID-19.
1:29.1	The panel is expected to vote that the vaccine's benefits outweigh its risks.
1:35.5	If that happens, the FDA could grant emergency clearance within days,
1:41.2	providing a badly needed boost to U.S. vaccine supplies.
1:46.8	Biden administration officials have said the U.S. expects J&J to release
1:52.0	3 million to 4 million shots next week, assuming it's authorized for use.
1:59.2	The company is ready to deliver 20 million doses by the end of March, according to an executive.
2:08.5	Mexico's finance minister said more than 80 million people in Mexico should be vaccinated by July.
2:16.7	Arturo Herrera, the minister, said the figure represents
2:19.9	all of the targeted adult population. He added that 34 million people would have received
2:26.7	their vaccine by April. Finally, California surpassed 50,000 deaths from COVID-19, according to data from its health department.
2:40.3	It's the first U.S. state to reach that bleak milestone.
2:45.7	Almost half of the fatalities have come in the past two months, following a winter surge in cases
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