ECBN Survey: Creative industries fear massive losses
In view of the corona crisis, many in the creative industries are confronted with financial losses. The European Creative Business Network(ECBN), partner network of the creative industries Austria, has therefore launched a survey on this topic. The first evaluation of the Austrian section shows that many in the cultural and creative industries are unsettled. According to the survey, two out of three respondents expect a drop in turnover of up to one third.
Another 26 percent even expect to lose between 40 and 50 percent in the first three months. 15 percent again expect a loss of sales of 75 percent or more. In the questionnaire drawn up together with "Kreatives Sachsen", a longer-term perspective up to the end of 2020 was also surveyed. 45 percent believe that they will have to cope with losses of up to 40 percent. 52 percent even expect reductions in the order of 50 to 75 percent. Only three percent expect the situation to normalise by the end of the year.
"There is a high degree of planning uncertainty among all those surveyed with regard to the coming changes and the unforeseeable time horizon of the prescribed measures," says the report written by Gerin Trautenberger, Chairman of KAT, and Josephine Hage. In any case, limited mobility is also problematic for the respondents. Compared to the Creative Industries Report 2019, a slump in turnover of up to one third is ultimately to be expected. "From today's perspective, this decline means that the gross value added in the Austrian creative industries can be expected to be three billion euros lower by the end of the year.
However, it is noted that this survey "can only provide information about EPUs and micro-entrepreneurs". On the other hand, there are "no reliable statistical data" on medium-sized and large enterprises. The survey reached around 300 participants from the cultural and creative industries. 80 percent of these are micro-enterprises and solo self-employed persons.
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