Arts and Entertainment finds lifeline amidst Covid downturn
The Creative Economy contributes 3% to global GDP, with cultural and creative industries generating USD 2,250 billion annually. Covid-19 hit this sector particularly hard, with a 70% drop in global concert revenue in 2020.
As concerts and theatre performances ground to a halt, the Arts and Culture sector is at the cusp of change. South Korea takes the lead, successfully staging virtual concerts by combining live streaming with augmented reality (AR) technology, reaching paid viewership of 756,000 across 107 countries.
What strategies can the creative sector leverage to bring audiences back?
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