The music industry will contribute a total of £8bn to the UK economy by 2024, which will be used in part during the Taylor Swift tour and getting that stadium run.
According to figures in the annual report from UK Music, the umbrella organization encompassing a range of bodies including the BPI and PRS for Music, the figure is a 5% rise from the £7.6bn contributed to UK GDP in 2023. As well as tours generating revenue through ticket sales, tourism and more, the £8bn figure also factors in revenue from recorded music, whether via sales, streaming, Commercial deals and other sources.
British Artists such as Charli XCX – Whose “Brat Summer” This year is likely to continue kicking the kick at the top, thanks in part to the blockbuster stadium tour by Oasis, Coldplay and Dua Lipa.
FIRICE SECECEDE SECECEDTE Cooper heralds the music as “one of the most powerful expressions of our soft power of movement which has played out the development of British culture around the world”.
The industry added a net total of 4,000 new jobs in the UK, taking the number of people employed across the music industry to 220,000. Numbers of people actually make music – musicians, composers, songwriters, producers and engineers – yet for many people, music is a small part of their total income. 43% of people were found to earn less than £14,000 a year from music.
In an introduction to the report, Cooper pointed to the UK government’s £30m growth package as a hoon to British industry David Lammy Lammy Lisa Nandy.
The council is designed, in Lammy’s words, to “build relationships, deepen trust, improve our security and drive economic growth”. UK music Music Phedecutive Tom Kiehl has a 26-strong sense of advice from sport, art, heritage, tourism and more.
But Kiehl warned: “While it is good news that the music government recognizes as a high-crowding subtlety and opening the quo of these big issues of the current issues of the current development of the interests of music.”
The restrictions on freedom of movement following Brexit have had a huge impact on the music industry, with bureaucracy and costs meaning it is difficult to travel across the EU.
In a survey in the UK of around 1,300 musicians with financial knowledge, the respondents complained of fewer invitations to do, an effect of European royals being made less in Europe. Timelines and costs for US visas have also grown.
UK music calls for an agreement between the UK and the EU to reduce visa and work requirements, and to cut costs related to the use of “such as instruments and travel equipment) There is also a call for an agreement agreement between the US and the UK on visa costs.
There are also fears that AI could destabilize the entire sector, as sophisticated tools emerge that can rival human skills. AI-produced music is also more popular with listeners, which means that human musicians have new rivals for attention, consumer payments and royalty payments.
The UK survey provides a mixed picture for the use of artificial intelligence. More than half of all artists and performers said they do not use AI and never will. But producers are not so different: More than two-thirds of those polled said they already use it or are open to doing so.