Silicon Valley: With an estimated USD 80 million lost in revenues, the cancellation of glitzy Golden Globes ceremony has cost the Los Angeles economy dearly. Catering, transport, fashion, retail and tourism industries took a massive hit from the decision to scrap the ceremony for a low-key press conference.

Jack Kyser, chief economist for the Los Angeles County Economic Development Corp told the National Public Radio (NPR) that the annual ceremony normally generates USD 70-80 million for the LA county economy. "Besides the show's actual production costs, there are other expenses such as studios spending on ad campaigns, star perks and in town parties", he said.

"The banquet staff at the Beverley Hilton and the people serving at all the parties (will suffer from scrapping) because they can generate a lot of tip income, (and) limo services, people providing valet parking, security services, flower shops, even dermatologists (would also suffer)."

Madeline Leonard of Cloutier, which provides makeup artists to Hollywood's A-list celebrities, told the radio that with no clients to serve at the Golden Globes, the phones had been ominously silent.

"Award-show weekends are the busiest weekends of the year and the Academy Awards and the Golden Globe are the two busiest weekends for hair makeup", she said. NBC, which was to telecast the event on prime time, has also lost several million dollars in advertising.

The Golden Globe Awards show draws across 20 million viewers across the US and is known for championing small films, increasing box office numbers, and even helping DVD sales down the road. Fans are now worried about the fate of Hollywood's biggest night.

Source : PTI