NATPE to file for bankruptcy
Citing the effects of the Covid-19 pandemic, the National Association of Television Program Executives (NATPE) is filing for Chapter 11 bankruptcy.
The organization says it has been operating on its financial reserves after canceling most of its in-person events in 2021 and 2022. It did host its annual gathering in Budapest in June. For 2023, NATPE is shifting its flagship event from Miami to the Bahamas, January 18 to 20, and says it plans to return to Budapest in the summer.
“NATPE is looking at all possible options to restructure, including raising funds through strategic alliances, and continue to operate NATPE as a more streamlined and reorganized operation,” the organization said in a press release. “For almost 60 years, NATPE has been the leading global professional association for content producers, distributors, developers, streamers and buyers across all distribution platforms. NATPE is optimistic that it will emerge from the reorganization process in the same position.”
NATPE is a nonprofit organization. According to its tax filings, revenues had been on the decline even before the pandemic, from a peak of $9.1 million in fiscal year 2015 to $7.1 million in fiscal 2020, the last year for which a return is available.
NATPE said it will restructure under Chapter 11, and that it still plans to hold its annual conference on Jan. 17-19, 2023, in the Bahamas.
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