Organizers for Montreal’s 2024 Just for Laughs have filed for bankruptcy. The move also resulted in multiple staffers being laid off. 75 workers which accounts for 70% of the staff have either exited or been let go.
The Reason
The organization blames the years of pandemic and the rising inflation for the cancellation, the organizers said,
After having extensively considered all available alternatives, came to the conclusion that the financial situation of the organization left no other choice than to initiate formal restructuring proceeding.
The bankruptcy process means that Just for Laughs is now in the process of looking for investors or those who can acquire all or part of the business itself.
Aside from Covid, organizers also say that current shifts in the media business was also a reason. They have cited that the industry itself have been constantly changing and the emerging streaming platforms and television productions have made the entire festival more challenging to manage.
What This Means for Comics
The Montreal Comedy Festival is where a lot of comics got some much-needed exposure, even Dave Chappelle could credit his success to the festival.
Comedians like Abby Stonehouse also say that the festival was the main reason she started doing stand-up in the first place and highlights how it was an opportunity for local talents to flourish.
It also brings in big-names in the industry like Trevor Noah, Amy Schumer, and more so comedy enthusiasts also regularly fly in to Canada for the event.
The recent cancellation would likely disappoint not just the fans but also the up-and-coming comics looking to catch their big break on the stage.
Canadian comic, Brent Butt also has him worried for the future of comedy. His first performance in 1992 allowed him to make the necessary connections and network to hook him up with his own sitcom ‘Corner Gas’ and other projects.
A similar experience happened to Andrew Phung who says that his show ‘Run the Burbs’ wouldn’t have happened if he didn’t attend Just for Laughs and met a producer.
The news came at a big surprise for comedians as Just For Laughs was still accepting submissions and auditions, and while they were expecting news of being accepted, the company suddenly said that the whole event is cancelled.
Comedy clubs also bear the brunt of the cancellation as comedy club owners are worried that there would be a reduced number of tourists coming in to their businesses.
Just for Laughs Events
A lot of the events being held in Canada are operated under Just for Laughs, and as such events, like Messmer, Neev, Mélanie Couture, and Waitress are cancelled.
Events under multiple organizers like the shows in Toronto and Vancouver are still expected to continue as planned along with their hit TV show, ‘Just for Laughs Gags’.
The organizers, Groupe Juste Pour Rire Inc. are still however very hopeful that Just for Laughs will continue in Montreal next year, albeit in a smaller-scale compared to what we’re used to.
For more of the latest happenings in comedy check out our website and if you’re interested in great live comedy shows, you are always welcome at one of the best comedy clubs in London, Big Belly Comedy Club! We’re ready to make you laugh 7 nights a week!
