The cultural sector has suffered a 60% drop in economic output over the past 18 months, a University of Sheffield study reveals.
Restrictions led to 55% of sector jobs being furloughed - well above the national average of 16% - and more than 80,000 arts professionals applied to the Self-Employment Income Support Scheme (SEISS).
This amounts to 68% of eligible freelancers in the UK.
Professor Vanessa Toulmin said the study highlights the "catastrophic effect" of the lockdowns on arts workers' finances, job security and wellbeing.
"People in the sector have been losing sleep and have had much higher levels of anxiety."