Surveying The Carnage: Movies, Sports, and Education in Crisis

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 15 May 2020

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

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

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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