According to UK Music’s most recent ‘Measuring Music’ report, the music industry contributed £3.8bn to the British economy last year, up by 9% from £3.5bn in 2012.
Out of that impressive total, musicians, singers, composers, songwriters and lyricists contributed the highest amount at £1.7bn, with live music bringing in a total of £789m, recorded music at £618m, publishers at £436m, music producers and studios at £102m with ‘music representatives’ contributing £80m.
Whilst we’re on with the big numbers, the industry also supported over 111,000 full times jobs and music exports hit £2.2bn in 2013.
UK Music CEO Jo Dipple said: “Measuring Music provides us with the data to accurately show Government and policy makers how important an industry we are to the UK economy”.
Dipple also called for more Government support for the sector, saying: “We need a strong copyright framework and we need help to ensure the many legal music services we licence are given priority in online search results. Our SMEs need access to finance and support for skills and training to allow them to grow. And we need help to talk to young music fans about how to value the music they love”.
Culture Minister Sajid Javid added: “The UK music industry is one of our biggest success stories. Not only does it make a tremendous contribution to driving economic growth, but it plays a pivotal role in taking British culture to every corner of the globe”.
He continued: “One in every eight albums sold anywhere in the world is by a British artist, and I know that, with the ongoing support from Government, this dynamic sector will continue to flourish and thrive”.
There were unconfirmed reports that Javid then went off to play ‘Passing Through’ by Leonard Cohen whilst swaying beneath the portrait of Margaret Thatcher that reportedly hangs in his office.
‘Measuring Music’ makes for some interesting reading and you can find out more and read the full report here.
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