The Entertainment Industry After COVID 19: What’s Next?

May 31, 2020 by Jason Alexander
entertainment after covid 19

DJing Post-Pandemic

When it comes to life after COVID 19, many people in the event industry are wondering what’s next. Honestly, no one is 100% sure what’s next, even me. I can only speak from what our entertainment business (we offer Austin, TX wedding DJ & photo booth services) is experiencing, as well as what other colleagues are experiencing.

So I’m going to speak from my personal experiences, as well as what I’ve learned from other fellow industry professionals. I’d love to hear your comments and feedback, as well. Let’s discuss these, now.

Large Festivals & Events

festivals after covid 19

The concerts, sports, and festival events have been devastated by this virus. It’s hard to have these large events simply due to the risk. Many of the music executives are thinking 2021 will be the earliest that the concerts and festivals will safely resume.

They’re likely waiting for a vaccine to be released and widely available, just to be safe. There’s far too much liability to have an event with 100,000 people and risk hundreds or thousands of people getting sick.

One thing is for sure: when these events do return, expect them to be very different and have stricter sanitation practices in place, which is certainly a good thing, virus or no virus. We do many of the large festivals in the Austin area, so this certainly impacted our 2020 business, unfortunately.

Weddings & Private Events

Weddings and private events are the bread and butter of many businesses in the event industry. For the last week, we’ve noticed that we’re getting more emails about late 2020 and 2021 weddings and events. It seems as though people are more comfortable planning their events, again.

Smaller Weddings/Events

We’re noticing that the larger weddings are not as common, likely due to COVID 19. Many of the inquiries we received are for 100 or fewer guests. We expect this trend to continue, at least until the threat of the virus is minimized.

Micro-weddings are becoming more prevalent. We’re also seeing far more mentions of “elopement weddings.” This is certainly going to take a toll on wedding DJs. Especially with social distancing still being a thing, dancing is not at the top of everyone’s list, unfortunately.

The Rise of Dinner Parties

We’re also noticing a trend with events having a long cocktail hour or extended dinners, with no dancing. This doesn’t mean they won’t need a DJ, but they’ll likely need less time from DJs. We’re not sure if this will only affect 2020 events, but it seems to be the case, so far.

School Events

School events are also a big revenue source for many DJs/DJ companies. The virus literally wiped out our school event gigs. 100% of our school events and proms canceled and most of the staff stated they’ll likely reschedule for next Spring.

I don’t see back to school events happening as they usually do, in late August. School administrators have to do what’s best for their students and the safety of everyone (I’m actually a former school administrator). 🙂 Hopefully, next Spring, we’ll see a return of proms and graduation events.

The Economic Impact on the Entertainment Industry

It goes without saying that the entertainment industry has truly been devastated by COVID 19. We lost thousands of dollars in revenue from mid-March through the end of July. It’s been tough for the industry as a whole.

We’ll likely see the trend of smaller weddings/events continue at least until early 2021. Some people may choose to just not to have their wedding or event at all. This means less revenue for many vendors. So we expect the supply and demand rule to apply here, as it always does. Let’s discuss how that will likely impact the event industry.

Supply & Demand

The supply and demand theory is generally universally accepted as how a price is determined. Basically, there is an “equilibrium price” that is determined by the supply available and the demand for that commodity, or service. Yes, there can be exceptions, but this applies to pretty much any business.

How Will All of This Affects Prices?

The demand is certainly down for 2020 events and it will likely be down for early 2021 events. So what does this mean? It means that some businesses will simply choose to keep their rates the same and be okay with booking fewer events. Other businesses may lower their prices in order to get more bookings.

With unemployment being at an all-time high in our lifetime, the demand is certainly going to be impacted. People may opt for lower budgeted events. On top of that, with COVID 19, people may also want smaller events. So this means less revenue for most people in the events industry.

When Will it go “Back to Normal?”

I don’t want to be all gloom and doom. I’m simply using logic here. I do think that once people feel “safe” again, and unemployment eventually goes back to less than 5%, we’ll see an increase in demand and events as the way we once knew them. The question is, when will this happen?

What are your thoughts? Maybe you think I’m completely wrong and that’s okay. Please leave a comment and explain your point of view. I’d love to hear your thoughts.

-Jason

Filed Under: Mobile DJ Business