UK music industry hits record £7.6bn as grassroots venues struggle

The UK’s music industry reached new heights last year, contributing a record £7.6bn to the economy despite the ongoing crisis facing small music venues and the threat of AI songwriting.

The event was supported by stars from Adele to Harry Styles, as well as UK live performances from artists including Blur, Pink, Elton John and Ed Sheeran, and new talent including The Last Dinner Party and English Teacher also performed. The industry did its best. It will boost revenues by 13 per cent from £6.7bn in 2022, industry body says UK Music.

Music export revenue also reached a new record, reaching 4.6 billion pounds, an increase of 15 percent compared to the previous year’s 4 billion pounds in 2022. Success was also measured by a record number of people working in the sector, with employment exceeding 216,000 (full-time). equivalent positions) – a 3 percent increase from 210,000 in 2022.

UK Music Chief Executive Tom Kiehl said: “The music industry is ideally placed to accelerate the new UK government’s mission to secure the highest sustainable growth in the G7. In the decade that started with the pandemic and brought great destruction to the industry, a resilient music industry has emerged.

But he warned that this was “not the time to become complacent”, warning that the UK music industry “also has vulnerabilities” that threaten its world-leading status.

“Increasing global competition, challenging financial conditions for artists and grassroots, as well as the wild west that is productive Artificial Intelligence (AI), combine as significant challenges for the industry.

Nearly 125 community music venues across the country closed last year, and more than 350 are at risk of closure, according to the report. Music Venue Trust charity According to the Association of Independent Festivals, an estimated 192 festivals have disappeared since 2019, and 60 festivals have announced postponements, cancellations or closures so far this year.

musicians be afraid of artificial intelligence It can be used to reproduce and produce music at a speed and quality beyond human, threatening their creativity.

“We are now at a turning point and future growth cannot be guaranteed if the problems we face are not resolved.”

He warned that folk music was under threat in the UK, where a new generation of talent was expected to emerge. Developing talent faced low wages and high costs; small venues and independent festivals were still in a precarious situation; recording studios were facing high costs.

“Coupled with a long-term decline in music education, all of this hinders the music industry’s ability to build a talent pool for now and the future.” he said.

The industry body has called on ministers to promote changes to the law that protect against unregulated AI, cap secondary ticket resale prices and ensure children have access to free music production across the UK. 1,000 music teachers will be hired as well as fighting for visa-free tour for musicians and crew.

Creative Industries Minister Sir Chris Bryant has called on the live music industry to work together to introduce a voluntary tax on all stadium and arena tickets. help support grassroots venuesfestivals, artists and promoters.

The call for support also won the support of Culture Minister Lisa Nandy: “From global superstars such as Harry Styles and Adele to internationally renowned festivals such as Glastonbury and Parklife and a wide range of vibrant subcultures, the music industry is a truly British success story. These impressive new figures underline how vitally important it is to boost growth, as it increases its value to our economy by nearly a billion pounds a year.

“I am determined to ensure the government works with industry to build on its current success in the years to come. “By supporting vital community venues, introducing new secondary ticket protection measures for fans and ensuring all children have access to high-quality music education in schools, we can help the industry grow even stronger in the future.”