Covid-19 tipped to spark €4.5bn loss for French music industry
Posted on: 1 juillet 2020, by : Stuart Dredge

In June, we reported on a claim by French industry body SNEP that the Covid-19 coronavirus pandemic could deliver a €235m blow to recorded music revenues in France this year. But that’s just a fraction of the anticipated losses, it turns out.
Another industry body, TPLM (Tous Pour La Musique) which represents all aspects of the French music industry, has put out a report tracking the anticipated impact overall.  “The music industry is expected to lose about 43% of its forecasted revenue, or about €4.5bn,” is its headline claim.
In these calculations, recorded music revenues are expected to come in 20% smaller than expected – a hit of €200m – but it’s the live industry that’s unsurprisingly hardest hit: an 83% drop in forecasted revenues this year, meaning a €2.29bn hit. Collections by society Sacem are predicted to come in at 23% below expectations, a €250m shortfall meanwhile.
The post Covid-19 tipped to spark €4.5bn loss for French music industry appeared first on Music Ally.
Source: Music ally

Related Posts

Aller à la barre d’outils