New deadlines for paying performers' pension contributions may have contributed to the cancellation or financial difficulty of several Australian events.
The issue is not necessarily the size of the amount, but the timing of payment. A significant share of ticket revenue arrives later, while performer and related obligations must now be met increasingly early.
An event can look profitable on paper and still run into payment difficulties if it lacks sufficient operating reserves, credit facilities, sponsor advances or early ticket revenue.
Summary
Event organisers say the accelerated contribution schedule places a serious liquidity burden on festivals.
Frequently asked questions
- What is the key information in this FestivalTV article?
- Event organisers say the accelerated contribution schedule places a serious liquidity burden on festivals.
- Where is the festival or event taking place?
- Australia.
- What is the original source?
- IQ Magazine.
