PLASA, the association for the entertainment technology industry and #WeMakeEvents, the global campaign to save live events, has published a detailed global survey report on the current position and future recovery of the live events industry.

The survey ran from 1 November 2021 to 21 December 2021 and was completed by 1,948 respondents in over 40 countries in five different languages. The data provides strong and clear evidence of the challenges currently facing the sector, with the vast majority currently reporting delays, shortages and cost increases.

“Looking ahead, confidence is mixed, with the majority of respondents lacking confidence in industry recovery within the next six months,” say PLASA.

The survey was conducted before the Omicron variant threatened the lucrative winter holiday season. However, there is “cautious optimism” from seven to 18 months, which mirrors the progress made when the live events industry re-opened in 2021.

The survey highlights that companies and organisations are carrying a heavy financial burden, reporting a huge decrease in annual turnover.

To increase the pressure further, 45% took on additional debt to survive the lockdowns. Freelancers are faring no better, with low earners growing in number and top earners dropping by 78%.

The report showed that the supply chain is in complete disarray, with shortages and delays across the board.

A total of 94% of manufacturers are experiencing delays in components, resulting in many being forced to source new suppliers and redesign products.

The knock-on effects are felt by rental companies, venues, installers and distributors, with the vast majority facing delays in finished goods, cost increases, and unavoidable complications.

“The global live events industry has been hit like never before in our lifetime, with much of the supply chain left out in the cold, forced into accruing debt and calling off work,” said Juan Jose Vila, COO of Equipson Spain.

“Much of what is involved in making live events happen is out of sight – from the engineer behind the sound desk, to the factory that the technology is produced in. This survey demonstrates how impacted the global industry continues to be, so I stand with my industry colleagues around the world in calling for urgent financial support.”

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