fbpx

PROFILE

MY SUBSCRIPTION

LOGOUT

x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

Spain’s music sector suffers €1bn loss in 2020

The news comes as Live DMA releases a new report which criticises the amount of support the live industry has received throughout the pandemic

By IQ on 12 Jan 2021

WiZink Center Madrid during the Alerta Roja protest in 2020

WiZink Center Madrid during the Alerta Roja protest in 2020


image © WiZink Center

Spain’s music sector lost €1 billion in direct revenue and €7 bn in indirect revenue during 2020, according to data from the federation of music in Spain, Es Música.

The data takes into account both live music, recorded music and exploitation of intellectual property rights, and includes the entire value chain, companies and professionals from other sectors that indirectly participate in the Spanish music industry.

Last year, Spanish Association of Music Promoters (APM) reported that around 25,000 concerts were cancelled last year in Spain, causing a total loss of €120 million for concert halls, which prompted numerous protests and demonstrations including ‘The Last Concert‘ and #alertaroja (pictured).

The news comes as Live DMA – which represents more than 3,000 live music venues, clubs, and festivals from 17 European countries – releases a new report, 2021 – Stay Alive, which criticises the amount of support the live music industry has received throughout the crisis.

“The governmental support and compensations are not sufficient or adequate to secure the live music sector’s survival during its shutdown,” the report reads.

“Saving live will cost less for govts and do less harm to society, than first destroying the sector and rebuilding it later”

“Governments must give adequate support through all means possible in order to compensate for the loss in income, skills and diversity the live music sector suffers from and save this crucial cultural, social and economic sector. These support mechanisms must be effective now and provide a long-term perspective as well.”

The report found that audience restrictions and limited support from governments were the two main reasons for the financial problems of live music venues and clubs.

Ninety per cent of Live DMA members state that the support from governments is not sufficient to compensate the financial damage related to the pandemic and they do not foresee any improvements in 2021 if governments do not change their position.

The umbrella association recommends that if governments enforce restrictions that cause direct loss of income for live music organisers, they should ‘simultaneously and/or immediately (announce the plan and process to) compensate the financial losses to the venues that are affected by these government policies’.

“Saving existing live music organisations such as venues, clubs and festivals will cost less for governments and do less harm to society, than first destroying the sector and rebuilding it later,” the report says.

Read 2021 – Stay Alive in full here.


Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.

FOLLOW IQ

Leave a Reply

Your email address will not be published. Required fields are marked *