The UK Annual Economic Study: The Live Music Sector – Part 1

This is the first of two blog posts that will show how the live music sector performed in the year of 2013 and comparing it to 2012. The information that is used is from the UK Music, Measuring Music – September 2014 report.

The report for each year is published in the summer of the year after, so in this case, 2013 is the latest report on the UK Music Industry. “The music industry grew by 9 per cent from 2012 to 2013 outperforming the rest of the economy by a factor of five.”UK Music, Measuring Music, Sept 2014

UK MUSIC - Measuring Music September 2014

UK MUSIC – Measuring Music September 2014

As a whole, the music industry did well in 2013, with the industry producing £3.8 billion in GVA (Gross Value Added) as well as creating 111,000 jobs.

From the report, it shows that the live music sector was the second biggest contribution to the core music industry.

It made £789 million in GVA compared to the recorded music sector, which made £618 million, as well as the sector of music producers, recording studios and staff, which made £102 million.

The employment FTE (Full-time equivalent) of the Live Music sector was 21,600 in comparison to recorded music with 8,510 and music producers with 9,600.

On top of being the second biggest contribution to the core music industry, the live music sector showed a growth of 26% in office taking, compared to the year before.

This shows how important the live sector of the music industry is, with the increasing amounts of illegal downloading causing falling revenue to the recording industry.

“The pick-up in live music attendance last year might be regarded as a bellwether for general economic activity and consumer confidence. The corresponding growth in employment in the live music industry in 2013 had a significant effect on adding to the momentum behind the recovery.” – Jo Dipple UK Music CEO  

The full Measuring Music, September 2014 PDF is available from the link below. (http://www.ukmusic.org/assets/general/UK_MUSIC_Measuring_Music_September_2014.pdf)

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