The Night Time Industries Association (NTIA) has unveiled groundbreaking findings today, shedding light on the profound effects on nightclubs and the broader nighttime economy. The comprehensive NTE Tracker supported by CGA Neilson delves into the challenges faced by nightclubs and provides a detailed analysis of business unit numbers across regions and major cities, revealing a landscape reshaped by unprecedented circumstances.
Key findings include:
Nightclubs:
- Nightclubs have weathered unprecedented challenges, experiencing closures and revenue losses at an alarming rate.
- Between March 2020 and December 2023, a staggering 35% of independent nightclub businesses were lost.
- The data reveals a 32% decrease in the overall number of nightclubs during the same period.
Regions:
- Across the country, over 13,793 night time economy businesses have been lost, with notable declines in London (-3011), Central (-1898), and Lancashire (-1616).
Major Cities:
- Major cities have also felt the impact, with over 2679 night time economy businesses lost between March 2020 and December 2023. London (-1165), Glasgow (-141), and Birmingham (-112) experienced significant losses.
Business Tenures:
- The report indicates a staggering 15.5% drop in overall night time economy businesses, from 102,860 in March 2020 to 89,067 in December 2023.
- Independent businesses continue to dominate the sector, comprising 77% of overall night time economy businesses in December 2023. Down 3% in terms of market share from Mar 2020 at 80%.
Analysis:
The data underscores the indispensable role of nightclubs and the broader night time economy in both urban and rural communities. Despite the challenges, the resilience and adaptability of businesses offer hope for recovery and future growth. The diverse landscape within the sector highlights the need for tailored support measures to ensure its continued vitality.
Statement from Michael Kill, CEO of the Night Time Industries Association:
“These figures are a stark reminder of the devastation caused by the last 3 years, and will without doubt anger and frustrate people within the sector.”
“However, in the face of adversity, resilience prevails. We are dedicated to supporting our members and championing policies that foster recovery and growth.”
“As we confront the aftermath of the pandemic and ongoing operational challenges, it’s essential to acknowledge the resilience and diversity among businesses in our sector.”
“Our sector has been neglected twice by the Government in financial support during budget allocations, subjected to political manoeuvres aimed at securing votes.”
“These statistics unmistakably reflect the crisis gripping our sector, leaving the Government with no choice but to take decisive action.”