The U.K. live music industry could suffer £900m ($1.1b) in losses—81% of its annual contribution to the economy—and lose thousands of jobs as a result of the coronavirus crisis, without urgent government action.
The warning comes from the UK Live Music Group, a collective of promoters, festivals, agents, venues and production services, which is part of umbrella trade body UK Music.
Research done by group predicts that the industry risks losing the majority of its £1.1b ($1.36b) annual contribution to the U.K. economy in Gross Value Added (GVA), and many of its 30,000 workers. More than 550 grassroots music venues (82% of the total) are said to be at immediate risk of closure, and recovery for the sector could take up to three or four years. In addition, a survey by the Association of Independent Festivals found that 92% of its members face collapse.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
