“When will audiences return to live events and cultural institutions? And with limits on crowd sizes, how can anybody budget for a venue they can only fill to one-third capacity? Maybe digital alternatives will replace the live arts, but will people pay for the virtual experiences they’re currently enjoying for free? As arts leaders debate these questions, a picture is emerging in which the micro and the local are as likely to succeed as the grandiose and the institutional, and the virtual will flesh out the actual. The economics, however, remain murky.”