Revenue generated by the UK’s live music industry jumped 14 per cent last year to a staggering £1bn ($1.36bn/€1.13bn).
A new Measuring Music 2017 report indicated that huge events such as Glastonbury Festival, as well as small gigs in bars, supported the UK’s live music growth.
As a whole, the music industry saw six-per-cent growth, which added £4.4bn to the economy. Successful album releases in 2016 included the Rolling Stones, Adele and Coldplay.
Despite the evident success, UK music chief Michael Dugher said it is important that the music industry is taken seriously by the government and schools.
He said: “Live music did have another great year as millions of people poured into festivals, stadiums and venues to see and hear their favourite acts. And live music is a fantastic driver for growth. But future talent will never get the chance to shine if we continue to see cuts in music in schools and closures in venues where artists need to learn their craft in the first place.”
The report also highlighted the musical exports reached £2.5bn, with £80m of that coming from live music, £421m by recorded music and £964m by musicians, songwriters, composers and lyricists.
Jobs in the industry also saw a hike in 2016, with the greatest increase coming from the live music sector.
Dugher said: “The number of new jobs created in the UK rose at a faster pace than the rest of the employment market and our export figures shot up across the board. The outlook for the music business is better than it has been in years. But behind the positive top-line figures, there are some clear challenges that could threaten our efforts to cement the foundations for continued growth.”
Image: Eva Rinaldi