Music adds £4.5bn to UK

 

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(Above: Live music was worth almost £1bn in the UK last year. Image: Kaique Rocha from Pexels)

The UK music industry grew by 2 per cent in 2017 to contribute £4.5 billion to the economy – up by £100 million on 2016.

The finding was published in the 'Measuring Music' 2018 report, the annual study by UK Music and its members.  The recorded music sector saw a rise of 9 per cent to £700 million whilst music publishing grew 7 per cent to £505 million in 2017.

Successful British acts including Ed Sheeran, Dua Lipa, Rag’N’Bone Man, Stormzy, Harry Styles and Depeche Mode helped exports of UK music soar in 2017 by 7 per cent to £2.6 billion.

Millions of fans who poured into concerts ranging from giant festivals to grassroots music venues generated a contribution of live music to the UK’s economy of around £1 billion (£991 million).

UK Music measures the health of the music business each year by collating data from our partners about the industry’s contribution in goods and services, known as Gross Value Added (GVA), to the UK’s national income or Gross Domestic Product (GDP).  Exports are part of this contribution.

Download report.

ENDS

Read more music statistics

 

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