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From concerts to fundraisers, thousands of events have been canceled around the country. Though online ticketing platforms have offered to hold funds and payouts until after events are rescheduled, it may be risky to hold them.
Event-related organizations have taken a significant financial hit during the COVID-19 outbreak. A recent press release from EventBrite announced that the company was reducing its global workforce by 45%. Combined with other cost-saving measures, the company’s goal is to eliminate $100 million in expenses.
Nonprofits and small businesses would be wise to explore the financial background of online ticketing agencies prior to rescheduling events.
– Cyndee Woolley, APR, C2 Communications
