Industry Analysis & Industry Trends
They may be full of music, lights and entertainment, but nightclubs have not had a lot to celebrate since 2006-07, with revenue expected to decline an annualised 1.7% over the five years through 2011-12. In an effort to address alcohol-related concerns (e.g. binge drinking) without penalising nightclubs and other industries of the night-time arena, UK governments have changed licensing regulation. The altered legislation is more relaxed in governing late-night operating hours and liquor licences. As a result, competition between nightclubs has increased, as has competition from outside the industry. The new legislation reduced nightclubs' overall market share by increasing the number of licensed venues open to the public... purchase to read more
Industry Report - Industry Analysis Chapter
Nightclubs in the United Kingdom have experienced many changes over the past five years, which made it difficult for club operators to relax within a stable operating environment. Industry revenue has been compromised by the economic downturn. The United Kingdom officially entered a recession in January 2009, which has been prolonged by government austerity measures. Revenue is directly related to consumer discretionary spending habits, which have suffered due to the recession, a high unemployment rate and low economic sentiment. In the five years through 2011-12, industry revenue is expected to decline by an annualised 1.7% as the industry slowly recovers. Industry revenue will reach £3.2 billion in 2011-12, representing an increase of 1.5% on the previous year... purchase to read more