A man walks past Broadway show posters on Shubert Alley in Times Square after it was announced that Broadway shows will cancel performances due to the coronavirus outbreak in New York, U.S., March 12, 2020.

Mike Segar | Reuters

Broadway will remain closed for the rest of the year. 

On Monday, the Broadway League, a trade organization representing producers and theater owners, announced that performances in New York City will be suspended through the remainder of 2020 due to the coronavirus outbreak.

People holding tickets through Jan. 3, 2021 will be able to seek refunds or exchanges for those performances. 

The Great White Way has been closed since March 12, and it’s unclear when theaters will resume operations. Initially, the Broadway League had hoped shows would be able to resume in September.

So far three shows, Disney’s “Frozen,” a new Martin McDonagh play called “Hangman” and a revival of Edward Albee’s “Who’s Afraid of Virginia Woolf” have announced that they will not resume performances once Broadway does reopen.

The closing of Broadway for this prolonged period could be detrimental to New York City’s economy. In the week before theaters were shuttered due to Covid-19, ticket sales reached $26.7 million across musicals and plays, according to data from Broadway World. 

In the last year, Broadway generated more than $1.75 billion in ticket sales, 65% of which came from tourists. With so many travelers, it is estimated that during the 2018 to 2019 season, Broadway contributed $14.7 billion to the city’s economy. 

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