Movie Theaters to Receive Billions in Relief Funds as Part of the Save Our Stages Act
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(Photo: Felix Mooneeram)

Small and medium-sized movie theaters will receive a portion of the $ 15 billion in funding included in the COVID-19 aid package that Congress is voting on today. In addition to the $ 600 stimulus payments, a $ 300 weekly weekly unemployment benefit extension, and other Paycheck Protection Program (PPP) loans, the package includes the Save Our Stages bill, originally designed to support Live Entertainment was authored and introduced in the Senate by Amy Klobuchar (D-MN) and John Cornyn (R-TX). As Klobuchar explained in an interview with Variety, the Save Our Stages claim was raised from $ 10 million to $ 15 million to include theaters, museums, zoos, and other venues.

According to the interview, theaters that are limited to 500 employees can apply for grants equal to 47% of their 2019 sales in one of two application periods. The two weeks after applications are opened are limited to venues that lost over 90% of their 2019 sales in 2020. The second two weeks are open to venues that in 2019 lost 70% of their 2019 revenue.

Venues applying for this grant cannot apply for this new round of PPP loans as well. Under the published law, individual venues can request up to $ 12 million to cover expenses incurred from March 1, 2020 through the end of the year. An additional grant of 50% of the original grant can be requested to cover the costs incurred until June 30, 2021.

(Photo: Felix Mooneeram)

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