70% of businesses in the ‘Arts, Entertainment And Recreation’ industry report they have ‘temporarily closed or temporarily paused trading’, the highest figure in any industry and more than 4 times the all-industries average of 16%.
Of businesses continuing to trade, 64% of businesses in the ‘Arts, Entertainment And Recreation’ industry report a turnover decrease of over 50%, the highest figure for any industry and over twice the all-industries average of 24%.
65% of businesses in the ‘Arts, Entertainment And Recreation’ have paused trading and do not expect to start trading in the next 2 weeks, compared to an all-industries average of 11%.
Of businesses that have not permanently stopped trading, the proportion of their workforce on furlough for businesses in the ‘Arts, Entertainment And Recreation’ is 74%, the second highest figure of any industry, and well over twice that of an all-industries average of 37.8%.
Incorporated Society of Musicians’ Chief Executive Deborah Annetts, responding to the figures, said:
“Alongside the worrying news of possible mass redundancies across our theatres, and the delaying of culturally significant musicals, we are now also presented with yet more data that shows the sheer force of the impact of COVID-19 on the creative industries. Music and creativity as we know it in this country is under threat.
“The economic and cultural case for a long-term government financial support package for the creative industries, especially music, is now overwhelming. This deal must reflect the diversity of our sector, and must make use of the full financial tools available, including expanding the creative sector tax relief programme.
““Music, in all its many forms, revitalises us and gives us a sense of who we are. Government support is not only vital for the economic health of the music sector, but for the nation’s very soul.”