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Camada's cultural revenue down 3.9 B in 2009

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The official blog of the British Columbia Association of Community Music Schools

Tuesday, December 22, 2009

Camada's cultural revenue down 3.9 B in 2009

"The global recession is expected to reduce revenues for cultural enterprises by approximately $3.1 billion in 2009".
This is one of the findings of "The Effect of the Global Economic Recession on Canada's Creative Economy in 2009", a report prepared by The Conference Board of Canada for the Cultural Human Resources Council (CHRC) that measures the impact of the current recession on the cultural sector.
Traditional culture sector revenue streams such as business advertising, endowments, and municipal funding have been eroded due to the weak economy and the steep decline in stock markets. Cultural industries have felt the pinch. For example, the report highlights the fact that written media and broadcasting which depend heavily on business advertising are expected to see real revenues fall by 6.1 per cent and 4.8 per cent respectively.

Link to article  link to report

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posted by SR at 4:28 PM

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