April 2: NAMM Update on COVID-19

Updated Thursday, April 2, 2020.

Hello everyone,

It has been another week of unimaginable headlines, yet at the same time, we’ve seen and shared more and more stories of people finding connection through making music. I’ve had the chance to speak with so many of you, and your inspiring stories of finding the opportunity to serve, despite every obstacle, will be recorded for future generations. I am so proud to be associated with such incredible people.

Business Relief, Resources and “CARES” 

A lot has happened since my last note. The bipartisan CARES Act, conceived and signed into law in just a few short days, is the most significant piece of federal disaster and economic relief ever passed in American history. To put it into perspective, the 1948 Marshall Plan for European recovery was about $128 billion in today’s dollars; the CARES Act is more than sixteen-times that amount! 

It is imperative that all NAMM members who qualify seize this opportunity. It is complicated, but we are standing by to help navigate this process, as well as producing tactical webinars, including “COVID-19 Small Business Relief Part II,” which focused on the key business relief provisions within the CARES Act, as well as other financial aid and immediate steps to take this week. 

Taking NAMM U to You in Real-Time 

The Professional Development team is also planning another insightful webinar with best practices and examples of creative ways our retail members are surviving government-ordered shutdowns. We’re “crowdsourcing” the very best ideas of our members and sharing what is working. Alan Friedman and Daniel Jobe's webinar yesterday, "Financial and Tax Response to COVID-19," was equal parts informative and inspirational as they did an incredible job for all NAMM members. If you missed it or would like to share it with your colleagues, it is posted here.

Anticipation

We continue to think of the health and safety of our members. And while no one can say what the next phase might look like, one thing is certain, this will end, and economies will reopen for business. Great musicians (OK, insert your favorite drummer joke here!) read ahead of the sheet music they are playing in anticipation of what's coming up on the chart. This crisis calls for the wisdom to do what's needed in the moment combined with an action plan for the future. Quoting a NAMM bulletin from August of 1945, after years of industry shutdown, our leaders of the day were equally as pragmatic. “This is it, the long-awaited day of victory is here, bringing with it new opportunities and new problems!”

Together, we will come out of this on the other side, different for sure, but with music more valued than ever before.

Sincerely,

Joe Lamond, NAMM President and CEO