Raising the curtain on entertainment risks in 2023

Businesses need to know they have sufficient insurance coverage for sophisticated productions. Where costs increase, so, too do exposures because the costs are higher with each day of shooting, and this could be reflected in any insurance loss. (Credit: August_0802/Shutterstock.com)

If 2020 was the year when the music stopped, the theaters went dark and soccer players scored goals to deafening silence or recorded cheers, the entertainment sector is hoping 2023 will be the year it can finally reclaim the collective experience of full houses, packed movie theaters, and booming arenas. 

We had a very positive year in 2022 and a welcome recovery is definitely underway. But we’re not out of the woods yet. In the three years since the coronavirus first hit headlines, the world has changed. The sector must continue to evolve in line with new technologies, proliferating platforms, seismic shifts in patterns of consumption, and changes in the public mood, particularly among the younger generation. Meanwhile, economic and geopolitical pressures wait in the wings.