The music industry has suffered as the pandemic saw cancellations of live performances and the closure of venues.
According to UK Live Music Group lockdown has led to the threat of potential job losses.
Greg Parmley, UK Live Music Group chair, said: “The live music industry has collapsed as a result of coronavirus and it will be one of the last sectors to emerge from this crisis.”
Before Covid-19, £5.2billion a year was contributed to the UK economy in Gross Value Added (GVA) from the music industry.
It also created 190,000 jobs and in 2018 the live music sector alone contributed £1.1billion a year towards the economy in GVA.
Tom Watson, UK Music Chair, said: “The music industry is really hurting. Parts of the sector are effectively on life support and will need a sustained package of help from the Government to survive.”