In a newly published report, the Mayor of London has reaffirmed his belief that “music is vital for the city”. New figures released show that London’s grassroots venues bring £92m to the economy every year and are an integral part of a music industry that is now worth £4.1bn in the UK.
London’s grassroots music venues in numbers:
• 94 grassroots music venues currently trading in London
• 2,260 full time jobs are supported by these venues
• £91.8m is contributed to London’s economy
• £44.6m is generated in tax revenue every year
• 13,803 people go to a grassroots music venue in London every night
• 4.4 nights of music are put on by grassroots venues every week
• £34m worth of tickets are sold every year
• £44m is invested in new and emerging talent every year
The original Rescue Plan for London’s Grassroots Music Venues made six recommendations to stem the tide of closures and help new venues open. They covered: planning; development; business rates; licensing, policing and environmental health; promotion of venues; and music tourism. Click here to read the full progress report (published January 2017).
In celebration of the important role that independent venues play in the success of songwriters, composers and performers, PRS for Music recently hosted a series of educational panels across the country to help encourage and inform the next generation of artists. Click here to read more about how PRS for Music supported Independent Venue Week 2017.
Paul Clements (Commercial Director, PRS for Music) said:
Given the importance of independent venues in the development and success of composer, songwriter and performer talent PRS for Music was delighted to support Independent Venues Week and is equally pleased that the Mayor of London’s plan appears to be having an immediate positive impact on the health of independent music venues in the capital.”