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Oxford Economics reveals latest figures for UK’s creative industries

First Published 17 June 2020, Last Updated 18 June 2020

Newly commissioned research from Oxford Economics today revealed that over 400,000 creative jobs could be lost along with a projected combined revenue drop of £74 billion for the UK’s creative industries in 2020 (£1.4 billion a week).

The new report, The Projected Economic Impact of Covid-19 on the UK Creative Industries, shows that the impact will be felt in all parts of the UK, with creative industries projected to be hit twice as hard as the wider economy overall and up to three times as hard regionally.

The UK’s creative sector was previously growing at five times the rate of the wider economy, employing over 2 million people and contributing £111.7 billion to the economy – more than the automotive, aerospace, life sciences, and oil and gas industries combined.

So what does this mean for theatre? The report projected that the industry will lose £3 billion in revenue (61%) and 26% of permanent jobs (12,000). Further research from SOLT/UK Theatre shows that, without further intervention, job losses in theatre across permanent and freelance roles are likely to number over 200,000 (over 70%).

As you can imagine, theatre needs your support now more than ever. If you are able to, please support the industry by purchasing Theatre Tokens so that you can see a show when theatres reopen. They have absolutely no expiry date and make the perfect gift for you or your loved ones. Alternatively, you can donate to your local theatre or visit www.theatresupport.info to support a theatre charity of your choice. Your donations will be greatly appreciated by those in need.

We thank you for your ongoing support and look forward to welcoming you back to theatres as soon as we can.

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We are now cancelling all performances up until and including 31 May 2020 to help us process existing bookings whilst we wait for further clarity from the government in terms of when we will be able to reopen.

We are so sorry that in these testing and difficult times you are not able to enjoy the show you have booked for and hope the following helps clarify next steps in respect of your tickets .

There is nothing that you need to do if your performance has been cancelled, but we do ask for your patience.

If you have booked directly with the theatre or show website for an affected performance, please be assured that they will contact you directly to arrange an exchange for a later date, a credit note/voucher or a refund. If you have booked via a ticket agent they will also be in contact with you directly.

We are processing in strict date order of performance, so you are likely to be contacted after the date you were due to go to the theatre. However, we want to reassure you that you will be contacted, and your order will be processed, but please do bear with us.

We’d like to thank everyone who has been patient and kind in dealing with their ticket providers so far and we are sorry that we cannot process your order as quickly as we would like.

Please do not contact your credit card company as that will slow the process down and put an additional burden on our box office and ticket agent teams.

In order for us to serve our audiences the best we can, please do not get in touch with your point of sale if you have booked for performances after 31 May. Please be reassured that if we have to cancel future performances you will be directly contacted by your theatre or ticket provider. Our producers continue to plan for all eventualities dependent on the individual needs of their shows and we will provide further updates on specific shows as and when they become available.

We look forward to welcoming you back into our theatres as soon as we are allowed to resume performances. In the meantime stay safe and healthy.

While theatres are currently closed, various venues and productions are making announcements for their individual shows, including cancellations and rescheduled performances. Please check with the individual shows for details.