Naman Ramachandran The U.K. music industry enjoyed a robust 2019, but 2020 has understandably been severely impacted due to the spread of the coronavirus pandemic, according to a report commissioned by industry body U.K.
Music.The report, titled “Music By Numbers 2020,” monitors the impact of COVID-19 during 2020, and concludes that up to 85% of live revenue will be lost, as revenues have been close to zero since March, when venues shuttered and concerts and music festivals were canceled.Further, according to a survey conducted by U.K.
Music, 65% of music creators’ income will be lost this year, rising to over 80% for those most dependent on live performance and recording studio work.
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