Brixton O2 Academy’s closure has cost the economy an estimated £15-20m. Keeping the venue shut is not the solution, argues ShainShapiro.
Brixton Academy Is Still Shut. Let’s Look At The Economic Impact (forbes.com)
On 15 December 2022, a tragic crush at an Asake concert, a Nigerian Afropop star resulted in the deaths of Rebecca Ikumelo, 33 and Gaby Hutchinson, 23. Since the incident, the venue, the Brixton Academy has been closed as its license to operate was revoked. Not only has this incident caused untold human suffering, it has also had significant economic impact. I thought, given the venue remains closed as of writing, we should explore this negative economic impact.
Brixton Academy has been in operation since 1929. This is the first time that such an incident has happened at the venue. If we conservatively estimate that the venue has hosted concerts since the mid 1960s at a rate of 3 per week, that totals to 156 concerts per year for 55 years, or 8580 concerts, held up to 15 December 2022. Let’s assume that 3000 people attended each concert, on average, which allows for some sell outs and some undercounts. This would mean 25,740,000 passed through the doors of the venue before the incident occurred...Keep reading on Forbes.
Brixton Academy Is Still Shut. Let’s Look At The Economic Impact (forbes.com)
On 15 December 2022, a tragic crush at an Asake concert, a Nigerian Afropop star resulted in the deaths of Rebecca Ikumelo, 33 and Gaby Hutchinson, 23. Since the incident, the venue, the Brixton Academy has been closed as its license to operate was revoked. Not only has this incident caused untold human suffering, it has also had significant economic impact. I thought, given the venue remains closed as of writing, we should explore this negative economic impact.
Brixton Academy has been in operation since 1929. This is the first time that such an incident has happened at the venue. If we conservatively estimate that the venue has hosted concerts since the mid 1960s at a rate of 3 per week, that totals to 156 concerts per year for 55 years, or 8580 concerts, held up to 15 December 2022. Let’s assume that 3000 people attended each concert, on average, which allows for some sell outs and some undercounts. This would mean 25,740,000 passed through the doors of the venue before the incident occurred...Keep reading on Forbes.