The symphony orchestra in the time of COVID-19: will American orchestras rise from the ashes?

ABSTRACT

The finances of performing arts organizations are sensitive to economic recessions. We use data from the "Great Recession" to provide a window into the problems that symphony orchestras will need to circumvent during and following the COVID-19 recession. We estimate that for every 1 percent increase in unemployment, attendance will decrease by 2.4 percent. With audiences who will be slow to return to concert halls, orchestras should expect years of diminished numbers of ticket buyers. Symphony orchestras will need to practice cost-cutting measures, while reinventing themselves through innovative programmes, including increased streaming platforms, in order to prosper post-COVID. [ABSTRACT FROM AUTHOR] Copyright of Cultural Trends is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)