LPA seeks targeted financial stimulus for live performance industry

Live Performance Australia (LPA) is calling for a targeted industry package advising that without this financial assistance there will be no bridge to recovery for many companies.

The shutdown of events and venues in response to Coronavirus has already cost the performing arts industry thousands of jobs and hundreds of millions of dollars in lost income with LPA Chief Executive Evelyn Richardson advising “we are on the front and back ends of this crisis, and without immediate and substantial support for under-capitalised commercial and Not-For-Profit companies, we won’t have an industry in the next few months.”

The economic stimulus package announced by government is welcome and critically important for the Australian economy by providing support for workers and businesses impacted by the coronavirus outbreak.

Richardson adds “Australians who work in live performance or who rely on the industry for their livelihood have been the first to be hit by the coronavirus economic tidal wave and they will be the last to recover.

Richardson advised that they expected people and businesses who operate in the performing arts industry, including large casual workforce and sole traders, to be able to access some of the help that has been announced, including faster access to income support payments but stresses that  “many of our performing arts companies and businesses have seen their entire revenue evaporate overnight”.

The small business package measures announced, while welcome, will not make a material difference to 80% of our companies.

“These are businesses whose entire revenue has fallen off a cliff. Without immediate support, they won’t survive.

“They also have no certainty about when or if they will be able to resume operations in the future.

“As the Prime Minister warned, this is not a two or four-week situation. We are in this for six months or more.

LPA advise that following the second stimulus package announced, the industry needs an additional $650 million in targeted support measures to be announced in the next few days.

 Richardson added “today Australia’s live performance peak body and the Media Entertainment and Arts Alliance (MEAA) stand united in calling for a clear commitment from government that it will provide an emergency industry package this week. Otherwise, this will be the death knell for Australia’s world class live performance industry.”

For an overview of LPA’s revised emergency industry package click here.