PLASA and #WeMakeEvents release hopeful industry report!
23 March 2023
Following on from the international industry-wide survey conducted in November 2022, PLASA and #WeMakeEvents have now published the full report, which is now available to download for free.
Completed by over 1,300 people in over 40 countries, the data offers clear insights into how the events, entertainment and installation industries are recovering from the pandemic, and highlights the rebound, along with what challenges remain.
The data will be presented to government departments and financial institutions to help raise the profile of the live sector, and it’s hoped, gain meaningful, long-term support. This report builds on the comprehensive survey conducted by PLASA and #WeMakeEvents in 2021.
Financially, the industry has mostly “bounced back” as predicted, with companies with over a million turnover seeing positive growth. Although, those with under one million turnover are still generally making up ground. Also, the vast majority of companies that took on debt during the pandemic are still paying it back.
Furthermore, delays and shortages across the board still remain, with 90% of manufacturers facing component delays and ¾ non-manufacturers facing delays in finished goods. Several reasons are cited, with Brexit leading the way.
Skills and work also remain affected, with employment down 10%, and ¾ of employers struggling to fill roles. And as a result, companies are delaying projects. Approximately half of employers do not think that graduates have the necessary skills, although a third indicate their need to hire apprentices in order to fulfil work.
Promisingly, the big exodus of freelancers may be over, with 90% of freelancers reporting they are back in the industry, either full or part time. Moreover, although a third report working 40 + hours a week, the average working week may have slightly shrunk, and more are working from home. However, long term security for freelancers appears to have reduced, and there is much less international travel.
Overall, turnover and demand has increased, with the industry showing resilience and hope for a more predictable future. This year’s findings stand in contrast to last year’s report which showed huge challenges and not much confidence for recovery.
Download the new PLASA and #WeMakeEvents survey report at: https://www.plasa.org/plasa-wemakeevents-survey-report-2023