France: 150 million euros in losses for cultural activities due to the Olympic Games
As the Olympic Games scheduled for this summer in France approach, music festivals and concert halls are facing a series of unprecedented challenges, jeopardizing their activities and finances, according to the French newspaper “Le Figaro”.
According to the newspaper, “the estimated deficit reaches 150 million euros for the cancellation of major concerts alone, without taking into account last-minute cancellations, additional costs and the shortage of artists.”
It was stated that “festivals such as the Bourges Spring Festival, which usually opens the festival season in France, are sounding the alarm about the effects of the Olympic Games, which mobilize a large force of law and order” .
The Minister of the Interior, Gérald Darmanin, had previously highlighted the risks of cancellation or postponement of cultural events this summer. In response to these concerns, a framework was put in place at the end of 2022 to ensure major music festivals could take place. However, it was necessary to cancel major events like “Lollapalooza Paris” due to the opening ceremony of the Games.
The newspaper explained that “the takeover of the main Olympics venues has led to the absence of major global artists, such as Coldplay and Justin Timberlake, from the Paris region.”
According to Ekhoscenes, which represents live performance entrepreneurs, the loss of ticket revenue for show producers is estimated at around 150 million euros. Meanwhile, festival organizers face rising costs and increased competition from the Olympics for equipment, contractors and human resources, while the Games’ opening ceremony raises concerns about conditions of access to certain emblematic places, such as the Parisian concert hall “Bercy”.
The newspaper reported that “double uncertainty over planning and recruiting seasonal staff puts operators in a difficult situation, and lesser-known festival organizers face challenges as they obtain conditional permissions based on security circumstances”.
In conclusion, “Le Figaro” stated that “the impact of the Olympic Games on the festival and concert hall sector in France is significant, with significant financial losses and growing uncertainty over whether or not the events will take place. “.
