How Important is UK Music to the Economy?

Music in the UK is much more than just entertainment and it adds value to the economy of the UK as well as contributing to the list of world wide well known soloists and groups.

Like almost any other country the UK appreciates their artists and stats show that live music in the UK as of 2015 was able to capture the attention of about 27.7 million with 24 million taking in concerts and the balance of 3.7 million enjoying this entertainment through music festivals.

When it comes to actual money that the UK music industry has been able to generate for the UK it is indicated that it comes in at about 4 billion and gave the opportunity for around 119,000 jobs to be filled. Indications are that there is over 7,400 businesses within the UK music industry and several of them employ at least a few people.

Looking at the music industry on the whole for the UK it is comprised of ….

  • Music Representatives
  • Studio And Staff
  • Recording
  • Music Producers
  • Musicians
  • Composers
  • Lyricists
  • Songwriters
  • Publishing
  • Live Music

Basically, the main venues that offer the most attraction when it comes to music offerings are festivals and concerts and also includes heritage sales. There are also some big names that are found in the music industry that have made their name well known in the UK music industry which are the Warner Music Group, Universal Music Group and Sony BMG.

Just as in many other parts of the world significant growth in the music industry has been as a result of the digital sales of music which includes music streaming. This has allowed known music artists to expand their audience. It has also opened the doors for many of those who wish to break into the UK music industry not just as performers but within the other categories.