Yahoo Finance has listed nightclubs in a list of industries that are set to “fall” in 2016.
In a report titled, “The Five Aussie Industries To Sink In 2016,” nightclubs came in at number five behind printing, with petroleum refining and manufacturing leading the pack.
The report states that “According to IBISWorld analysts, the nightclubs industry has had a tough couple of years. Industry revenue is expected to decline by 2.9 per cent in 2015-16, following sluggish growth of 0.3 per cent in 2014-15. This is in contrast to the strong industry growth seen in the years 2010-11 through 2013-14. Weaker growth has largely been due to increased industry regulation and decreasing alcohol consumption among younger demographics.”
The report shows that revenue generated from nightclubs in 2015-16 was $1,256.9 million, down from $1,293.8 million in 2014-15.
A collection of new laws, including lockout measures and going out expenses are major contributors to the decline in clubbing throughout Australia as one poor bastard discovered when he tried to go out for a beer and ended up paying $284.
These latest findings are sure to re-open the debate surrounding lockouts, entertainment and the state general nightlife throughout the country.
The findings are also likely to effect the already suffering live music scene even further, with venue owners scratching their heads throughout Australia over what to do about the alarming decline of interest.
Image: BarsAndNightclubs