UK –  The climate for business in the creative industry took a heavy dive as creatives, which rely on audience and exposure to thrive, lost around 400,000 jobs that amounted to 74 billion GBP losing revenue alone.

The creative industry would be suffering heavy losses as the projected drop in revenue spills over with the case of 1 out of 5 jobs being lost in every sector. The UK’s economy runs smoothly without the creative’s addition before the COVID-19 pandemic hit and with the pandemic straining all the economic resources, creatives were hit the hardest with deficits due to lack of being able to pool any revenue.

“Our creative industries have been one of the UK’s biggest success stories but what today’s report makes clear is that without additional support we are heading for a cultural catastrophe. 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. The repercussions would have a devastating and irreversible effect on our country.” Caroline Norbury, the federation’s chief executive,said.

The industry and it’s cultural organisations employed millions, brought communities together and were needed in these trying times of COVID-19 job crisis.

In 2018, The Creative industry contributed £111.7bn to the British economy – much more than all the  automotive, aerospace, life sciences and oil and gas industries combined. 

“These are the industries of the future: highly innovative, resistant to automation and integral to our cultural identity. We’re about to need them more than ever.” Federation Chief, Caroline Norbury added to her previous statement.

“The creativity that fuels this outstanding sector of the economy comes from people who have dedicated themselves to the film, theatre, TV, cinema and live events industries. They are the backbone of this sector and any plans to implement a cultural renewal fund must ensure that they are provided for,” Philippa Childs, the head of the union Bectu.

 “The music industry is resilient, but this means knowing when to ask for help. We need to restart our economy, help to preserve jobs and help to maintain the UK’s fundamental position as a net exporter of music across the rest of the world,” CEO of UK Music,  Tom Kiehl said.

All the UK cultural organizations are now calling out to their government for help.