NATPE to file for bankruptcy, blaming effects of pandemic on revenues

Fontainebleau Miami

The National Association of Television Program Executives (NATPE) is to file for bankruptcy, blaming the impact of the pandemic on its event schedule and revenues.

The organisation said it would restructure under Chapter 11, adding that event cancellations – including NATPE Miami earlier this year – had “forced NATPE to operate on its financial reserves, which now require it to reorganise the NATPE business structure.”

The not-for-profit outfit, led by JP Bommel, added that it still planned to run events in 2023, including its Budapest market and NATPE Global in January. The latter was launched to replaced NATPE Miami and had been set to take place at the Baha Mar Resort and Convention Center in the Bahamas, as revealed by TBI in April and confirmed by the org in June.

NATPE Miami had taken place in the Fontainebleau Hotel on Miami Beach since 2011, but its last two iterations – earlier this year and in 2021 – were forced online as a result of the pandemic.

The organisation returned to Budapest earlier this year, however, and just last week held its NATPE Streaming event.

NATPE said is looking “at all possible options to restructure”, including raising funds through strategic alliances and creating a “streamlined and reorganised operation”.

“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 reorganisation process in the same position,” it said.