Has the entertainment industry suffered?

I have friends who work in a wide range of industries from Construction to music and solicitors to beekeepers (yes really I do know a professional beekeeper!) all of whom have said how their particular industries have suffered during the last 5 years of the recession or credit crunch, whatever you choose to call it.

But how has this impacted the entertainment overall? Now I appreciate that this is a much bigger question than I could comprehensively cover in one post, so I may be back to elaborate in the future, but for now, here are my general observations.

  • Theater Productions – Have had a bit of a mixed impact dependent on exactly what they are. For example, the big shows seem to be carrying on regardless, I suppose their audience are predominantly more well off and are therefore less financially affected anyway, likewise the small local productions who are generally seen by friends and family of the cast and are usually very cheap anyway are also unaffected. The ones which do seem to be suffering somewhat are those which sit somewhere between the two, often attended by normal people but who need to travel to get there.muddy at a music festival
  • Music Festivals – Have certainly suffered in the last few years, but this is probably also due to the weather, we haven’t really had a good long summer since the recession started. On occasion some events have been cancelled due to flooding of the sites, but I know from personal experience that a lot of people hold off until the last minute before buying tickets, to see what the weather will be like and then only go if it’s looking fine. This has no doubt had an impact on numbers.
  • Corporate Events – Have certainly been scaled down to some degree. Probably very much dependent on the success of the company overall and how much budget they have for events. An example being Sage UK, they used to host huge annual events for all their partners, but even a FTSE100 company has restricted these more recently, both in the sense of numbers attending and the entertainment provided.

Overall I’m sure that the industry overall and the smaller ones which support it, from the legal teams who write contracts to the guitar string manufacturers and the make up professionals to the PA and lighting rig hire companies, have all seen a difference in the last few years. So lets hop that things will start to improve again in 2013!