Live Performance Australia's Plan To Boost Music Festival Capacities | Music News

Australia’s live entertainment sector desperately needs a new fund to shield businesses from future lockdowns, like the one that turned 2020 into a wasteland for concerts and touring; and Live Performance Australia is planning for it.

The industry organisation today put the call out for a Business Interruption Fund (BIF), which it has developed to provide “greater assurance” against the real danger of another shutdown and its impact on businesses.

Developed by LPA and modelled on a similar plan the federal government put in place for the screen industry, the BIF would provide indemnification for costs if a live event is cancelled, postponed, or “negatively affected” should government apply further restrictions, or keep them in place for longer than expected. Within that proposal, promoters and theatre producers that are impacted by a range of COVID-related scenarios would be covered for costs or losses stemming.

As it’s drawn-up, the level of support would be capped while participants would be required to pay a fee based on a percentage of the level of coverage required. Announced last Thursday, the initiative has been shared at the national, state and territory levels. Currently, only Western Australia has a business interruption scheme in place.

Concert promoters have been pleading with government for business interruption cover since the darkest days of the pandemic.

In October, Bluesfest Group of Companies Executive Chairman Peter Noble led those calls, which were heard by the ABC and beamed across the country.

According to data published by the LPA, the health crisis has caused an estimated $24 billion of lost economic output and almost $11 billion in lost industry value, while shedding almost 80,000 jobs, some two-thirds of the workforce.

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Homebrewed is a radio program and podcast dedicated to supporting the Australian Music Industry. Cameron Smith and Eamonn Snow have been presenting Homebrewed since November 2017 and have received excellence awards and the admiration of local bands for their presentation of Homebrewed and their continued support of the Australian music scene. This podcast is designed so you can enjoy conversations with musicians, industry representatives and music media personalities.