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The UK economy suffered its recession between April and June, and the effects of the pandemic triggered a formal recession for the first time since the 2009 economic crisis.
According to the Office of National Statistics (ONS), the economy fell to a record 20.4% in the first 3 months of the year. The figure is much worse than that of many other primary European countries.
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The UK, which relies heavily on the facilities sector and customer spending, saw family spending fall during the closure, while production of factories and structures also fell.
Meanwhile, the fall in employment in the April-June quarter is also the most pronounced since 2009, with 730,000 jobs lost.
The entertainment industry has suffered along with many others. Film networks, theatres and concert halls have been closed for months and maximum primary film and television productions, which generate significant foreign investment, have been suspended.
However, change is coming. Today, Odeon, the UK’s largest cinema chain, announced the reopening of 70 UK cinemas in time for Tenet’s long-awaited release at the end of the month. The reopening will come with Luxe Leicester Square of Odeon. 29 Odeon cinemas had already opened their doors with social estrangement, protocols and mandatory masking.
The box office, which valued $1.6 billion last year, has been low since a limited number of cinemas reopened, as the studios opened the tents and public uncertainty about the virus persists.
Meanwhile, London’s Bridge Theatre hopes to host David Hare’s new play, Beat The Devil, next month, making it one of the first primary plays to take position since closing.
As the UK faces its biggest economic challenge in a decade, the entertainment industry will continue to be affected by persistent uncertainty, close-ups and loss of tasks. But for the first time in a few months, a flash of kindness is on the horizon.
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