The Australian Live Music Business Council (ALMBC) has today (September 24) released the results of a survey that reveal over 400 live music businesses in the country are facing “imminent closure”.
Formed in July, The ALMBC represents over 600 businesses in the sector and this new recently-conducted survey reveals that 70 per cent of members are predicting closure within the next six months. Of this number, around 29 per cent of members are predicting closure within the next three months.
This figure is based on cash flow projections and the current government support measures in place. It also represents a potential loss of approximately 18,000 jobs, which is in addition to the job losses and closures the industry has seen already.
73 per cent of members reported a revenue downturn of 75 – 100 per cent in the past six months, with some recording a 100 per cent loss of income since March with no recovery in sight.
In contrast, only 17 per cent of members expect to be eligible to benefit from the federal government’s RISE package, and only 4.4 per cent of members are expecting to be able to take up a Show Starter loan.
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“It is our urgent priority to find solutions for the 30% of members who are not expected to see out Christmas – after 6 months of no revenue and gigs out to at least March 2021 still in doubt, we are almost out of time for a solution for these businesses,” Interim ALMBC Chair Stephen Wade said in a press statement.
“Our sector has been uniquely impacted by the pandemic and the role of live music cannot be ignored as part of the roadmap to getting the country back to good commercial and mental health. But if live music businesses don’t make it through the knock on for the entire music industry and wider national consciousness will be immense.”
“What happens when festivals return but there are no production companies or crew to service them?” he continued.
“What happens when there are no operators to handle production in local pubs and clubs? What happens when international artists want to visit Australia and there are no venues to play? When the ecosystem collapses, it’s the artists, the public, our culture and way of life that will ultimately pay the price.”
Last week, the Victorian government announced a $13million funding package for the state’s live music sector, in an effort to help it reopen following the lifting of lockdown.