In the event that you scrolled quickly through your emails, peruse this worthwhile information:
# SAVEYOURCINEMA
(well, by saving your cinema, you will save other cinemas).
| GOVERNMENT RELATIONS UPDATE + CALL TO ACTION! |
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| In the rapidly changing landscape of pandemic relief negotiations, we are adapting our lobbying efforts to advocate for elements that have the best chance of inclusion that will aid movie theaters. Although we have lobbied heavily for and still support the RESTART Act, the elements below have the greatest chance of making it into this round of relief. The Save Our Stages Act initially called for $10 billion to aid live music venues and live theater. We are working with stakeholders and key sponsors to include movie theaters and increase the funding to $15 billion. The Paycheck Protection Program Extension will provide more flexible and expanded relief to movie theater companies of all sizes, by allowing a greater percentage of funds to go to non-payroll expenses and companies to meet employee headcount limits by counting by location instead of company-wide.
Contact your Senators and Representatives to support their inclusion in the current round of relief. Suggested talking points are below! |
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| WHY MOVIE THEATERS NEED HELP |
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| Theaters need specific relief targeted to our circumstances. Absent this relief, theaters may not survive the impact of the pandemic.
The pandemic has been a devastating financial blow to cinemas. 93% of movie theater companies had over 75% in losses in recent months. If the status quo continues, 69% of small and mid-sized movie theater companies will be forced to file for bankruptcy or to close permanently, and 66% of theater jobs will be lost. Our country cannot afford to lose the social, economic, and cultural value that theaters provide.
Movie theaters are economic force multipliers and essential cultural landmarks. In addition to the 153,000+ employees working in cinemas nationwide, the industry supports millions of jobs in movie production and distribution, and countless others in surrounding restaurants and retailers that rely on theaters for foot traffic. 268 million people in North America went to the movies last year to laugh, cry, dream, and be moved together. Moviegoing is one of the most affordable out-of-home entertainment options. We cannot let our beloved cinemas disappear. |
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Support the Expanded Save Our Stages Act
- Support an expanded SOS Act that provides grants to performance venues, live theater, and movie theaters, calculated at up to 45% of gross 2019 revenues or $12 million per company, whichever is less. Also allows a supplemental grant for businesses that have lost over 80% in revenue.
- Movie theaters and live venues are among the hardest-hit industries that will be the slowest to recover from the pandemic.
- SOS is the only proposal that offers the right amount of FLEXIBLE funding that will be the bridge that keeps the theaters from going dark forever. Across the country this legislation would save over 3,500 theaters.
Support PPP Extension
- We urge an expansion of the per location/affiliation waiver to the movie theater NAICS Code of 512130. We also urge increased flexibility on the PPP 60/40 rule for businesses that have lost more than 75% in revenue.
- This targeted funding could save a significant number of the 153,000+ jobs in this industry alone and would include a majority of movie theaters.
- Many theaters have had trouble accessing any other form of capital; the PPP expansion is necessary to help some of the mid-sized theater companies survive the pandemic.
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