LIVE SECTOR RISKS LOSING £500M

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LIVE SECTOR RISKS LOSING £500M

6/11/21

If the U.K. Government delays its reopening date of 6/21, the live music sector could lose more than £500m due to more than 5k cancelled shows and the potential collapse of the summer’s festival season, according to research from trade body LIVE.

Gigs at venues and larges events may not be able to take place until the end of July due to a proposed four-week delay in the final stage of the U.K.'s reopening plan, which risks bankrupting many businesses, according to the new report. In the event of a five-week delay, 65% of independent festivals surveyed say they are set to collapse with 248 grassroots venues facing immediate risk of eviction.