The £1.57bn government support package for the arts industry will help "kick-start" the brand experience sector, according to the Institute of Promotional Marketing.
The fund, which the government revealed on Sunday after heavy lobbying from the arts sector, is designed to protect establishments such as museums, galleries, theatres, independent cinemas, heritage sites and music venues.
Andrew Rae, managing director at IPM, said: "This is a lifeline to many of our members."
He said: "I hope that the eligibility for grants and loans will be as broad as possible to ensure the greatest take-up possible. The effect of coronavirus has dealt a hammer blow to our members in the experiential space, both large and small, and this grant, administered as fairly as possible, is a great step in kick-starting our industry again."
The brand experience sector has faced tremendous upheaval since the coronavirus outbreak began to take hold in the UK. Since the lockdown came into force on 23 March, no events have been able to take place, meaning a huge loss for agencies and their clients. Summer season is one of the busiest periods in the events calendar.
Jess Hargreaves, chair of the experiential effectiveness community at the IPM and managing director of PrettyGreen, added that the bailout package is a vital way to keep talent in the creative industries.
She said: "The arts funding commitment provides a critical lifeline for the industry as it ensures the long-term future for not just institutions but both current and emerging talent.
"This has positive effects for the wider industry, including experiential, as there is a huge array of talent from the creative industries which cross into many areas from theatre, arts, music, venues and all of the expertise behind the scenes who physically produce, design, build, choreograph, script and perform.
"By investing in the arts at a national and local level, which this funding will assist, the UK can ensure that they are still a leader in the creative industries and will retain and attract future talent."