OVERVIEW this week
The entertainment industry is struggling to make ends meet, but luckily grants are being awarded and new efforts are being made to continue business during the pandemic.
Top 3 News Highlights this week
- AMC Entertainment filed with the SEC to sell up to 200 million shares as they seek to keep its business afloat with the continuing global pandemic. The nation's largest movie chain noted several months ago that it was fast depleting funds and risked running out of cash by late this year or early next if it couldn't raise more. These additional stock sales might be a stopgap as AMC hopes for an uptick in business and an eventual vaccine.
- Musicians, especially in South Louisiana where music lies at the heart of Cajun culture, have been hard hit by the pandemic. Some musicians have been gathering for mini jam sessions outside in a circle to play Arcadian French ballads they learned from their grandparents. Since the pandemic struck, the vast majority of live music venues in Cajun county have fallen silent, as they have all over the nation.
- Ninety-six Wisconsin music and entertainment venues will receive $15 million in COVID-19 Live Music and Entertainment Venue grants. The grants are designed to "provide financial stabilization" to the venues, effectively shut down during the pandemic. Live Nation Worldwide Inc. received the largest award amount along with nine other venues who received the same amount. These funds will hopefully provide critical support and stabilization to help them get through until entertainment gatherings can be safe again.