‘$47 million lost in 48 hours’: Australian Music Industry Network
Mon 16 March 2020
As the health impacts of Covid-19 continue to take hold, The Australian Music Industry Network (AMIN) is reporting estimated losses of over $47 million in just 48 hours due to the ban on mass gatherings.
The www.ilostmygig.net.au (ILMG) website was set up in an attempt to record the losses felt by small and medium businesses within the entertainment industry, with over 2000 responses estimating the loss of over 20,000 work opportunities affecting more than 190,000 people across the country.
A spokesperson for the website said it was going to be a tough time for an industry that relies on contract based work.
‘Many of the workers from the creative industries live contract to contract, and usually don’t have income protection insurance or significant savings.’
‘Often people supplement their work with work in the hospitality industry, and that too is suffering from the impacts of the bans,’ they said.
The effects are also being felt overseas with the cancellation of US festival South by Southwest and the postponement of Coachella.
Locally, the Perth festival scene was also affected with the last-minute cancellation of Hyperfest over the weekend.
Ilostmygig.net.au will continue to record losses and is encouraging any sole traders and small-to-medium businesses impacted by cancellations to assist in recording losses by logging jobs lost on the site.
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