Chris Spicer Quoted in Media on Coronavirus’s Impact on Hollywood
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Variety has quoted Akin Gump entertainment practice head Chris Spicer in the article “Show Stopper: Coronavirus Sends Hollywood Into Unprecedented Crisis,” which looks at the impact of the coronavirus on the entertainment industry.
The article reports that Hollywood is facing a great deal of uncertainty due to the spread of the virus. There has never previously been a global epidemic that threatened so many central pieces of media conglomerates at the same time, it says.
There’s also an ongoing debate, according to the article, about whether or not contracts with insurance companies will cover the financial toll caused by delays on movies and shows related to an epidemic like COVID-19.
“If the insurance companies take the position that there are no exclusions for communicable diseases, then globally that will shut down production until this is over,” said Spicer.
The Hollywood Reporter also looks at the issue of insurance for the entertainment industry in the article “The Big Reason Why Hollywood Isn’t Prepared to Tackle a Coronavirus Pandemic.” It notes that, in the absence of any ban by the government against large gatherings, event organizers should not assume they will recover their losses.
The entertainment industry, the article says, is just beginning to grapple with what the coronavirus pandemic will mean in terms of an uncertain insurance situation, whether that pertains to actors not being able to make it on set or promotional events becoming very difficult to achieve.
“A production is like a small town or community with people coming in from all over the world,” said Spicer. “If we’re closing down theaters and live events you could easily see why there would be a concern that productions would also be shut down ... The slew of issues created is not insurmountable but they are substantial and need to be addressed.”
