UK Music has today unveiled its 2020 edition of Music By Numbers, an annual report which outlines the economic contribution of the UK music industry to the British economy.
The report reveals that employment in the industry hit an all-time high in 2019, the total export revenue of the music industry was £2.9 billion and music tourism alone contributed £4.7 billion in terms of spending to the UK economy.
The new figures in the report are for the 12 months up to December 31 2019 and do not reflect the impact of the COVID-19 and its devastating impact on British music venues.
While 2019 figures paint a picture of a flourishing music business, the industry now faces a marathon effort to return to normality.
Jamie Njoku-Goodwin, chief executive, UK Music, said: ‘2019 was a fantastic year for the UK music industry, and we were firmly on track to be one of the great British success stories of the coming decade.
‘Music By Numbers 2020 shows just how successful our industry was before the catastrophic blow of Covid-19 knocked it down, and how important it is that we get it back on its feet.
‘When the time comes to recover from this pandemic, our world-leading music industry can be a key part of our country’s post-Covid economic and cultural revival – but we need the right support to get us there.’
Andrea C. Martin, chief executive, PRS for Music: ‘At full power, the UK music industry is a true economic, social and creative force. The report clearly evidences this, showcasing the vital contribution of this country’s diverse songwriters, composers and music publishers to our economy and its impact globally.’
Nigel Elderton, chairman, PRS for Music: ‘A world-leading music industry with a decade of sustained growth doesn't happen by accident. COVID-19 has now shaken that industry to its core and we urge the government to continue supporting music creators nationwide, investing in one of the UK’s most successful creative exports.’