COVID-19 Economic Impact Study Results

Please see below for the findings of our study – We had well over 1,000 detailed responses and feel that it is a really accurate sampling of data. Please reach out to Chris Ward at cward@elitecoreaudio.com if you have any questions regarding this study.

Average of 12 events cancelled per entity
Companies report an average loss of $157,573 from events ALREADY cancelled (18% of expected annual income)
Freelancers report an average loss of 37% of their expected annual income from events already cancelled
91% of all entities are being forced to take major responsive actions
49% of companies anticipate facing layoffs
- On average, 84% of all contract labor getting laid off
- On average, 53% of full-time workforce getting laid off
43% of companies are anticipating the need to liquidate assets
29% of companies are anticipating facing bankruptcy or closing operations