Coronavirus closures could result in $45 billion in lost revenue in the U.K.
The U.K. film, television, video and photography industries are projected to shrink 57% and lose £36 billion in revenues in 2020 due to the effects of theThe report also forecasts that as social distancing constraints impact cinema capacity and the cost of filmmaking, 102,000 or 42% of jobs across the industries will be lost.
The report projects that the music industry could shrink 50% to lose at least £3 billion in revenues and 60% of jobs, with the sector being hit hard by the collapse in live music and touring. Similarly, theater is projected to shrink 61% to lose £3 billion in revenue, with up to 70% of jobs lost.
”If nothing is done, thousands of world-leading creative businesses are set to close their doors, hundreds of thousands of jobs will be lost and billions will be lost to our economy,” said Norbury. “As the union for media and entertainment workers and freelancers, the scale of devastation demonstrated in these figures is terrifying,” said Philippa Childs, head of entertainment union Bectu. ”The creativity that fuels this outstanding sector of the economy comes from people who have dedicated themselves to the film, theater, TV, cinema and live events industries.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
The $25 billion coronavirus testing problem — no one wants to cover the cost - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »
New Zealand reports two new coronavirus cases after UK travelers test positiveNew Zealand has reported its first coronavirus cases in more than three weeks after two women who traveled to the country from the UK were found to have Covid-19.
Lire la suite »
What's on TV Monday: 'Songland' season finale; coronavirusWhat's on TV Monday, June 15: The season finale of 'Songland' on NBC; coronavirus; movies on TV; TV talk shows
Lire la suite »
Trump Still Doesn’t Want to Know How Bad the Pandemic IsAfter boasting of the rise of COVID-19 testing for months, Trump now blames the uptick of coronavirus cases on increased coronavirus testing.
Lire la suite »
New York City Businesses Bend Coronavirus Rules to SurviveSome New York City business owners, desperate for revenue months into the coronavirus pandemic, are bending or breaking the rules limiting restaurants and retail stores to takeout or curbside pickup.
Lire la suite »
Public schools at risk over states' projected budget deficits due to coronavirusStates face an estimated $615 billion budget deficit over the next three years due to the economic fallout from COVID-19 -- a shortfall that could rival the deficits seen after the 2008 recession and could threaten to throw the nation's public schools into crisis, according to projections by the
Lire la suite »