Music industry boosts UK economy by £4.4bn in new UK Music report
UK Music published the findings of its Measuring Music 2017 report to highlight the true scale of the industry’s role in the UK economy. The annual economic study into the health of the music business showed that the industry grew in all sectors, increasing by 6% in 2016 to contribute £4.4 billion to the economy.
Key findings include: (all figures are the music industry’s GVA to the economy in 2016 + the percentage rise on 2015 figures)
· Whole sector’s contribution to economy – £4.4bn (+6%)
· Live Music – £1bn (+14%)
· Recorded Music – £640m (+5%)
· Exports (whole sector) – £2.5bn (+13%)
· Employment (whole sector) – 142,208 (+19%)
Download the report here.