The Resurgence of Live Music: A Boon for the UK Economy

The UK live music industry has experienced a remarkable resurgence, generating a record-breaking £8 billion for the country's economy in 2023. This remarkable achievement is a testament to the enduring appeal of live performances, with sellout events like Glastonbury Festival and mega-grossing stadium shows by the likes of Beyoncé, Harry Styles, and Blur captivating audiences across the nation.

Powering the UK's Economic Growth through Music Tourism

A Surge in Music Tourists

The UK's live music industry has witnessed a remarkable influx of "music tourists," with 19.2 million people attending concerts and festivals in 2023, a staggering 33% increase from the previous year. These music enthusiasts, defined as those who have traveled at least three times the average commuting distance for their region or are based overseas, have contributed significantly to the local economy through their direct and indirect spending.

Record-Breaking Financial Windfall

The £8 billion generated by these music tourists represents a 21% increase from the £6.6 billion recorded in 2022, marking the highest figure ever recorded by UK Music since the organization began analyzing music tourism spending a decade ago. This financial windfall can be attributed to the direct spending on gig tickets, travel, accommodation, and food and beverage sales, as well as the indirect spending on supply chain businesses such as security and fencing.

Domestic Dominance and International Appeal

While the number of foreign concertgoers fell slightly to just over 1 million in 2023, down from 1.053 million in 2022, the total number of domestic music tourists grew by an impressive 36% year-on-year to 18.2 million. This surge in domestic tourism highlights the enduring appeal of live music among UK residents, contributing to the overall economic success of the industry.

Regional Hotspots for Music Tourism

London emerged as the UK's most popular destination for music concerts, drawing 6.9 million music tourists – a 40% increase year-on-year – who contributed £2.8 billion in spending. The North West of England, encompassing the cities of Manchester and Liverpool, was the second most popular destination, attracting 2.3 million music tourists who spent £735 million.

Sustaining Jobs and Livelihoods

The thriving live music industry has also played a crucial role in sustaining employment, with 62,000 jobs supported by the sector's success. This figure underscores the far-reaching economic impact of the live music industry, extending beyond just the performers and event organizers to the broader ecosystem of businesses and workers.

Challenges Facing the Industry

Despite the record-breaking figures, the UK's live music industry is not without its challenges. Grassroots music venues and festivals, as well as studios and rehearsal spaces, are facing tough economic pressures, with around 50 UK music festivals canceled or folded entirely in 2023 due to rising production costs and changes in music fans' ticket-buying habits.Furthermore, the country's grassroots music venues circuit is also struggling, with the Music Venue Trust (MVT) reporting that 125 venues have either shut down or stopped putting on live music in 2023. For emerging and mid-tier UK artists, the increased costs of fuel and post-Brexit requirements for touring carnets and work permits have added further financial burdens.

Calling for Government Support

In response to these challenges, UK Music is urging the newly installed Labour Government to urgently address what it is calling a "cost-of-touring crisis." The trade body has published a 10-point "Manifesto for Music" in a bid to secure the necessary support to ensure the continued growth and prosperity of the UK's thriving music industry.Culture Secretary Lisa Nandy has acknowledged the importance of the UK's music industry, stating that the government will "work hard to ensure our creative industries get the support they need to flourish, driving opportunity and economic growth into every community and inspiring the next generation of performers." With the right support and policies, the UK's live music industry can continue to be a powerful global export and a vital driver of economic growth.