Cultural Policies - Current Events

There are a lot of things happening currently that effect the economy and creative industries massively, the spread of the Coronavirus is causing a large economic crisis which could mean the creative industries take a massive hit. A lot of precautions are being placed for the future but the main problem at the moment is the fear of the public, social media is creating a lot of fake news which is causing a lot of people to avoid social situations, this puts large events and public entertainment companies at a lot of risk. Theatres often rely on plays and revenue from a lot of older patrons, most theatres struggle even with a constant influx of income, many companies like this will suffer as the revenue will be cut and then if the government chooses to shut things down they're at even more risk as the little they have a side will quickly disappear. The recent budget update that the government has released may help things like this but it's likely that a lot of arts companies will suffer from the affects of this outbreak.

Although there will be a lot of situations that are made worse by this virus, one industry that may thrive is the television and online media industry, shows will run as people when in self-isolation will want entertainment, youtube will become a resource for a lot of peoples boredom as they'll want something to do. If self-isolation becomes a realism we'll all be binge watching shows, watching live-streams and vlogs, that industry may boom more than it has before. Shows like 'Critical Role' have a very small crew and equipment so during these times they'll still be able to produce content and more viewers will be available to watch so their income and donations will increase potentially causing them as a small business to boom temporarily.

This outbreak will kill some businesses and revive certain struggling businesses, at the moment it's hard to work out which ones will survive.