prize5-9, Exercise 1: Who carried the risk

Model answer (check the details):

Large curated festival: the organisation carried a large part of the risk, since it had committed to programmes, contracts and staff. It was able to seek emergency public funding, use insurance where available and reduce its programme, and it could move some content online. Its core staff could be supported by furlough and similar schemes.

The Fringe: the Fringe Society itself had a small budget and few commitments to performers, so the financial risk fell on the many participants. Performers and companies had paid or committed money for travel, accommodation and venue fees, and lost income when shows were cancelled. Venue companies and landlords lost their busiest month, and many seasonal and self-employed workers lost wages.

Conclusion: the Fringe's open-access structure spreads the risk across thousands of independent people and businesses, which makes it flexible and also makes individuals vulnerable, since they have few reserves. Which support schemes reached them is a matter to check.