Montreal's Just for Laughs, the largest comedy festival globally, is filing for bankruptcy following a series of costly losses in 2023. The festival's financial troubles highlight the ongoing struggle of live entertainment in the aftermath of the Covid-19 pandemic. While audiences for pop concerts and sporting events have recovered, sectors such as Broadway and some major museums continue to experience diminished attendance. The insolvency of Just for Laughs serves as a stark reminder of the pandemic's lasting impact on the entertainment industry, with commentators like Simon Evans noting the shift towards smaller, digital formats of comedy consumption.
Stand-up is still reeling from lockdown. Huge festivals like Montreal are going bust. Two years of forced hibernation have broken the habit of getting out to live events. Comedy is shrinking to the size of a TikTok short, says Simon Evans https://t.co/yeOxLmlDUs
Series of costly losses in 2023 contributed to Just for Laughs insolvency: report https://t.co/a4ouJwknhi
Just for Laughs suffered series of costly losses in 2023 ahead of insolvency: report https://t.co/8gCTlJ0FSV
Covid brought live performance to a halt four years ago. Now the audience for pop concerts and sporting events has roared back, while attendance on Broadway and at some major museums is still down. https://t.co/omIaIbQfMp
Montreal’s Just for Laughs – the biggest comedy festival on Earth – is filing for bankruptcy. This is tragic. So much live entertainment is still struggling after lockdown. We are in danger of losing something very special, says Simon Evans https://t.co/yeOxLmlDUs