NJIVA Advocates for a Second Round of Relief When the First State Grant Went Largely Unspent
NJIVA continues to champion relief funding for NJ’s venues and promoters after learning the first round of State funding, the Community Stage Relief Grant, went largely ungranted and the industry, according to NJIVA’s recent survey, is still struggling.
Last month, New Jersey Independent Venue Association (NJIVA) sent out a survey to New Jersey venues and promoters to determine the financial state of the industry in 2021, after reopening to the public. The survey asked questions regarding ticket and non-ticket income, labor costs, and demographics. Every respondent - which included nonprofit and for-profit organizations - reported an average 67% decrease in overall ticket sales in 2021 vs. 2019 (pre-pandemic), despite the average ticket sale price remaining comparable. Around 90% of respondents also reported an average 72% decrease in overall non-ticket revenue and an increase in their no-show rates. This occurred alongside an increase in overall labor costs for venues this past year.
80% of the survey’s respondents received relief funds from the federal Shuttered Venue Operators Grant (SVOG) and 45% of them received the NJ Community Stage Grant to offset losses in 2020 when they were forced to close. But despite reopening in 2021, these venues’ losses continued.
“This data clearly shows our industry is still suffering the financial impacts of the pandemic,” says Sara Scully, NJIVA Associate and Hopewell Theater CEO.
NJIVA also received a report of which venues or promoters received the 2021 NJ Community Stage Grant for 2020. The organization did a deep dive to research who received the grant in order to determine how effective it was in providing relief to those hardest hit.
The good news was that data shows that recipients of this grant were diverse. 36% of grant recipients were women/minority-owned businesses and 36% were located in opportunity zones, as intended when the New Jersey Economic Development Authority (NJEDA) allocated an additional $10 million to the initial $7.5 million passed last year to aid for-profit venues.
The disappointing news was that a very small percentage of the State’s venues and promoters got the grant. 39 venues or promoters received the grant, when there are at least 130 for-profit venues or promoters in the state. Of the total $17.5 million allocated for this grant program, for for-profit venues and promoters, only $5,246,021 million was granted.
Given the extent to which venues and promoters are still struggling financially, NJIVA is currently looking to find out if the remaining nearly $12 million Community Stage Grant funding may be available with the NJEDA for a second round of much-needed funding.
Download the survey results presentation here.
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