Events Industry: Finance

(asked on 6th January 2022) - View Source

Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what estimate the Government has made of the loss of income within the live events industry as a result of covid-19 related cancellations.


Answered by
Julia Lopez Portrait
Julia Lopez
Minister of State (Department for Science, Innovation and Technology)
This question was answered on 13th January 2022

The pandemic has been a unique challenge to the live events industry. The government is committed to supporting the live events industry and continues to work with the sector to understand losses and recovery.

To assist with recovery, from 22 September 2021, the UK Live Events Reinsurance Scheme has given events the confidence they need to plan through to Summer 2022. The Scheme will support live events across the country - such as concerts and festivals, conferences and business events - that are at risk of being cancelled or delayed due to an inability to obtain Covid-19 cancellation insurance; it will enable the sector to plan future events with greater confidence.

The scheme is in addition to the extensive support already given to the cultural sector throughout the pandemic, including the nearly £2 billion Culture Recovery Fund and the £500 million Film and TV Production Restart scheme.

Reticulating Splines