Five reasons to work with the UK Music sector
1. It is a global Taste-maker
From the Beatles and Rolling Stones to Elton John, Pink Floyd and, more recently, Adele and Coldplay, UK music acts have consistently attracted a global following. UK artists created five of the top 10 biggest selling albums in 2014, and were responsible for the biggest-selling album worldwide in four out of the five years between 2008 and 2012 (Source: IFPI). In the list of the world's best-selling albums of all time, acts that are either wholly or substantively British supplied 10 of the top 25 (Source: Recording Industry Association of America, reported on How Stuff Works).
The UK has also originated whole music genres from punk to dubstep and grime and continues to innovate with new ways of distributing and marketing music. This is not just a reflection of the quality and range of the musical talent that the UK spawns, but also the managerial instincts and skills of those who find them, nurture them and sell them to the world.
2. It has world-leading expertise in live music
Glastonbury, Reading, the Isle of Wight...the UK's festival circuit has an international reputation that draws in foreign performers and musically-driven tourists, as well as domestic audiences. Outside the festival scene, the UK also has a well-established, geographically-distributed live network. Live music generated the biggest growth in Gross Value Added and in employment across music organisations in 2014. It is estimated that a total audience of 27.7m attended live music events in 2015, contributing £3.7bn to the economy. (Source: Wish you were here 2016, UK Music).
It has been estimated that this global reputation helped bring in 10.4m overseas music tourists to the UK during 2015, making up 38 per cent of the total live music audience. (Source: Wish you were here, UK Music).
3. it has a diverse and entrepreneurial workforce
Analysis by Creative Blueprint, the research group, estimated that there were almost 125,000 people working for UK music interests in almost 8,000 businesses (Source: Creative Blueprint.) These span music recording, distribution, marketing, post-production and other associated areas.
More than half of all music industry employees surveyed were under 44, and working in small organisations. Of these, 44% were categorised as self-employed. The music industry is also one of the more geographically diverse: many of the UK's top music venues are outside London with Glasgow, Manchester, Birmingham and Bristol all home to local music scenes.
4. It collaborates across disciplines
As physical music sales have struggled - in the UK as in every other country - the music sector has diversified its revenue streams through an efficient, well-supported licensing regime and an inventive approach to commercialising music. Growth areas include brand partnerships and digital platforms.
5. It has a record of digital innovation
The UK is at the forefront of the digital music revolution with more licensed digital music services in operation in 2012 than any other market.Consumers can now choose between more than 70 services, using downloading, streaming and/or cloud-based platforms over a variety of devices.
In 2012, digital music sales overtook physical CD sales in value in the UK and an official UK download chart was launched during the year. Technology is also redefining how labels find and foster audiences for new and existing acts, and market specific releases. UK acts such as One Direction, Plan B, Ed Sheeran and Birdy have all shown how social media, mobile and other channels can be used to build excitement for new releases.(Source: BPI)