Covid-19’s Impact On The Arts
According to a report published by the World Economic Forum, the global music industry is worth over $50 billion dollars with two major income streams. The first: live music which makes up just over 50% of the total revenue from sales of tickets to live performances. The second: recorded music which combines revenue from streaming digital downloads, physical sales and licensing of music for movies, games, TV, and advertising. The global loss of revenue to the art community as a whole is predicted to be as high as $75 to $100 billion dollars.
I talked with Dr. Shawn Puller about the toll Covid-19 has taken on the arts locally. He is the Executive Director of the Garth Newel Music Center in Bath County, Virginia. The following is our conversation condensed for radio.