Impact of COVID: Event and Entertainment industry says COVID-19 hit 60 million livelihoods

June 04, 2020 newsy 0 Comments

As we all know the entertainment industry is one of the most earning and fast-growing industries but due to COVID, they faced so many problems. Ergo, the entertainment and event industry is one of the most affected industries after laborers. This is because more than 60 million people in the event and entertainment industry lost their livelihoods because of the hit of the pandemic outbreak of COVID-19.

The event and entertainment industry management association has recently sent out an SOS signal to the government as they are seeking intervention. They are seeking the intervention because three-fourth of the industry has been impacted on a larger scale. This industry employee’s more than 60 million people and now all of them are standing still just because of the lockdown due to COVID-19. Therefore, this is one of the larger impact of COVID on people. The officials of the industry said that 60 million staff out of which 10 million have been directly impacted and their livelihoods are at risk because all the national, as well as international events, has been postponed just because of the pandemic outbreak of COVID-19.

Moreover, it has been estimated that losses for the first two months are already over Rs. 3000 crores or more than that. The associations of the entertainment and event industry further said that “After the arrival of the pandemic outbreak of COVID-19, the impact to this industry is unprecedented with multiple global and national events.” Therefore, all of the conferences, meetings, etc. are canceled due to this pandemic situation. Furthermore, it has been noted that this impact of crises on events and the experiential industry will last for months because no one knows when the pandemic is going to end. The impact for the first two months was only pegged at over 3000 to 5000 crore and this was all projected in a survey of 100 units in a sector.

The industry is constantly seeking help from the government but no help is yet given by the government sectors to these people. The pandemic has dropped the economy on a very higher scale as conferences, both public and private, national/international meetings, incentives, conferencing, exhibitions (MICE) events have been canceled. Therefore, these types of problems are choking the lifeline of the entertainment industry. Besides all this, the entertainment industry provides employment to more than 50 million people like food and beverages, hospitality, tourism, advertising, and the marketing industry. These are also facing a threat because of no upcoming movies and series.
Lastly, we would like to tell you that Sanjay Roy's founder and managing director of Teamwork Arts, is working out a lot to solve the issues but still, they are not able to pay staff salaries, taxes, and other bank loans, etc. The industry has said that we are seeking help from the government as soon as we get any help we will announce it to the people. 

Stay updated with us to have more information regarding the “Impact of COVID-19 to Entertainment Industry”.

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