As COVID-19 to sweep across not only the United States but also the globe, its latent effects continue to ream the nation’s live music industry. As such, a cohort of independent music venues in New York have teamed up to form the New York Independent Venue Association (NYIVA), a coalition designed to lead the fight in securing congressional funding and relief before things go from bad to much, much worse.
NYIVA is currently made up of more than 150 of New York’s independent venues, including the Knitting Factory, Bowery Ballroom, and Baby’s All Right. A statement released by NYIVA on August 4 outlines the uphill battle that the Big Apple’s live music industry faces in the coming months. The association writes,
“On average, a venue will need $300,000 to sustain itself if they are to remain closed until 2021. ($60 million for the industry in aggregate). On average, a NY venue already has $150,000 their landlord could claim in arrears and more than 80% of venues have no definitive arrangement with their landlords. Live streaming has yet to become a viable source of revenue. The average NY venue’s monthly profit from F&B, live streams, and merchandise comes out to $375 (after labor and cost of goods).”
The formation of the NYIVA coincides with the industry’s proposed day of action, August 4. Music fans across the country are urged to contact their congressional representatives on August 4 to show their support for relief acts designed to keep the live music industry afloat. Chief among these Capitol Hill plans is the RESTART Act, which estimates that 90 percent of the country’s independent venues could be in danger, and the Amy Klobuchar-penned Save Our Stages Act. Congressional representative contact details and more information on how to support independent venues that are struggling to stay afloat are available here.
Featured image: Capacity Images
