Major museums and mega galleries fired workers and cut wages, even when they invested tens of millions of dollars in PPP when the COVID-19 pandemic shut down the art world. The long-term effect on mass layoffs and the loss of revenue sources is not yet felt, as pressure on the arts and culture depletes our overall quality of life.
The fine arts and performing arts industries are the hardest hit, with losses estimated at approximately 1.4 million jobs and $42.5 billion in sales, according to a report “Lost Art: Measuring COVID-19’s Devastating Impact on the U.S. Creative Economy.” published through the Brookings Institution, an American research organization founded in 1916 at Think Tank Row in Washington Dc
Co-authors Richard Florida, professor at the Rotman School of Management and School of Cities at the University of Toronto, and Michael Seman, assistant professor of arts control at Colorado State University’s LEAP Institute of Arts, have weighed the effect on the global crisis of artistic economics, adding others who run in film , advertising and musicians, fix artists, performers and designers.
As for the era between April 1 and July 31, Florida and Seman estimate that some 2.7 million artistic Americans have been fired and that more than $150 billion has evaporated in goods sales and for the country’s arts industries, representing nearly one. one-third of all jobs in those industries and nine% of annual sales.
“While these effects are, at best, exhilarating, the COVID-19 crisis provides an opportunity to see how the arts industries paint in the United States and the existing policy for them,” Seman said. “Many of the most artistic, professional and knowledgeable people in the country are unemployed. How can we leverage this resource and expand collaborative projects and systems for them that can encourage interdisciplinary paints, improve skills and lead to innovation in processes and products? Think about what the Tokyo teamLab and French studio Théoriz explore and create. This may be the time to incubate an “artistic economy 2.0″ in the United States that is inclusive, interdisciplinary and transversal”.
The fine arts and performing arts industries lost almost part of all jobs and more than a quarter of all sales nationwide, according to an analysis of the arts industry.
An artistic occupation investigation estimates loss of tasks on more than 2.3 million tasks, representing average monthly revenue of $74 billion. This represents 30% of all artistic professions and 15% of the overall average monthly salary in visual arts, music, theatre and dance.
“You can’t raise losses in the arts industries and professions in combination because there is significant overlap,” Seman said. For example, “many of those who paint in artistic professions do so in the artistic industries. For this study, the figures must remain separate.”
The south is expected to be the most affected in terms of artistic industries and artistic professions, followed by the west and northeast, respectively. The West and Northeast will lose the maximum sales profit for the arts industries, say Florida and Seman.
More than three-quarters, or 80%, of estimated total sales losses and two-thirds (68%) of all estimated losses of tasks in the arts industries in the United States will have an effect on the 53 metropolitan spaces with more than one million inhabitants. New York and Los Angeles will be the highs divided into absolute losses, while small metropolitan spaces such as Las Vegas, Nashville, Tennessee, New Orleans, Orlando, Florida, Memphis, Tennessee, Baltimore, Jacksonville, Florida, Tucson, Arizona, and Austin, Texas will be defeated by a higher percentage of losses.
Art, culture and creativity are among the 3 key sectors (along with science and generation, as well as business and management) that stimulate regional economies, florida and Seman say.
“Small provisional measures will not fix the damage; it takes a really broad and sustained national strategy to revive the artistic economy,” Florida and Seman wrote. “This strategy will have to be bottom-up, but edited in all grades and driven through local public-personal partnerships between municipal governments, arts and cultural organizations, economic progression and networking groups, philanthropy and the personal sector, with the federal government. and state degrees of government, national philanthropy and giant corporations.”
The worlds of fine arts and performing arts have changed radically, adapting to virtual exhibitions and performances. While larger museums and galleries have the infrastructure and resources to temporarily and agilely reinvent business models, even after firing key employees, small organizations will want primary monetary and technical aspects to be recovered.
Quarantine Creativity transforms London-based theatre cooperative in collaboration
Florida and Seman see the absence of primary cultural occasions as we continue social estrangement as an opportunity for communities to move to a culture of origin.
“Communities can expand to rent local creatives and create online portals and platforms to allow citizens and businesses to rent local artists, musicians and artists for smaller-scale local events,” they said.
“The ultimate critical challenge faces those who facilitate, advertise and play in live events,” Seman said. “The more forbidden to hold occasions with a truly large audience, the greater the risk than the infrastructure that supports those occasions, (such as) advertisers, sound engineers, theaters, musicians, dancers, directors, etc., will disappear for a while. long time.”
Award-winning journalist, I have held senior editorial positions at the Associated Press and Dow Jones. Literature trainer, art workshop and art history with
Award-winning journalist, I have held senior editorial positions at the Associated Press and Dow Jones. A former student of literature, art of study and art history with a deep practical wisdom in finance and business, I explore the global markets for art and culture analysis. My reviews of the main openings of museums and galleries have been published in newspapers and media platforms around the world.