January 13, 2021
2021 brings big news for independent event organizers and venues: they are finally receiving additional relief thanks to the long-awaited passage of the Save Our Stages Act! This $15 billion funding package, signed on December 27, 2020 as part of a $900 billion COVID-19 stimulus bill, sets funding aside for independent venues including live music venues and promoters, theatrical producers, performing arts organizations, museums, and motion picture theatres.
Funds from the Save Our Stages Act represent the first significant COVID-19 relief for independent venues. Those that meet the criteria can receive an initial grant of up to 45% of their 2019 revenue, or $10 million (the lesser of the two). A second grant can also be applied for, though the total amount of grants cannot exceed $10 million.
This is a big win for the live events industry, and we are committed to doing everything we can to ensure our community is able to make the most of this opportunity. To help you determine if you’re qualified for relief, we commissioned Benesch, an AmLaw 200 business law firm, to create an easily-digestible breakdown of what the Save Our Stages Act does, who is eligible for relief, and what steps to take to receive a grant.