According to a report by British music producer Guild called MPG, local music producers are facing serious financial difficulties after losing about 70 percent of their income due to the coronavirus epidemic.
The study predicted that British producers and record engineers lost about $4,000 on average in March, and this trend will rise to about $5,200 next month. More than 50 percent of those surveyed said their rent or home mortgage loans would be overdue after three months or less, unless the government immediately provides aid.
MPG’s analysis also shed light on the financial impact of the coronavirus pandemic on British recording studios. All of these studios have been closed to comply with the lock order.
Meanwhile, arlier this week, British Prime Minister, Boris Johnson announced that residents would face a three-week shutdown in an effort to stem the spread of the coronavirus.
British medical experts have diagnosed that there have been nearly 12,000 cases of COVID-19 patients, which has killed more than 575 people. Britain’s levels of coronavirus infections have increased dramatically since late hours, as tests are becoming more and more widespread.