UK Music, who describe themselves as the collective voice of the music industry, has just released its annual economic report, This Is Music 2025 which outlines the huge contribution the UK music industry makes to the economy.
I’ve had a look through the report and, of course, much of this is about the contribution made by the Rock & Pop sector – but not entirely. Many of the challenges highlighted in the report should not be brushed aside too quickly as they are also highly relevant to the world represented by the BMS.
There are some impressive statistics here, with The report reveals some impressive statistics:
- the UK Music Industry contributes a record £8 billion to the UK economy
- revenue from UK music exports reached a new high of £4.8 billion in 2024
- employment in the UK music industry rose to a record high of 220,000 (full-time equivalent posts) in the same year.
This is Music 2025 been praised by political leaders including Foreign Secretary Yvette Cooper MP, who paid tribute to the importance of the music industry:
“The UK music industry remains one of our greatest international success stories. Every year, we see more new artists from Britain becoming global stars, and our existing world-famous musicians reaching new heights, all of them adding to the incredible heritage of creativity, talent and genius that has defined UK music throughout our history. As Foreign Secretary, I am deeply grateful for the role that the UK music industry plays in promoting British culture around the world, opening doors across continents, and acting as one of the most powerful expressions of our soft power in action.”
But the report also outlines some of the major challenges the sector faces. New chief executive of UK Music, Tom Kiehl has called on the government to ensure that the UK music industry retains its position as a global leader, but also raises the current threat from unregulated artificial intelligence (AI), Brexit red tape, and barriers to global exports.
The challenges identified in the This Is Music 2025 report include:
- Slowing Growth Rate: The music industry has enjoyed double-digit annual growth in recent years. That growth has now halved indicates a levelling off of the immediate post-pandemic boost that we experienced
- Impact of Artificial Intelligence: 90% of music creators – from record producers to performers – agree that protections need to be in place to stop their work being used without permission or payment.
- Lengthening Artist Development Cycle: The report concludes that it is taking longer for music performers and creators to reach a ‘breakthrough moment’. This is a rising concern and part of a global trend which has impacted artists not just from the UK.
- Threat to Grassroots Ecosystem: Many emerging artists are finding it increasingly difficult to present their work, with income not keeping pace with costs. Many venues of all types have closed in recent years and others are under threat. Recording studios are also under pressure, with the actual cost of recording being especially tough.
- EU Touring and Cultural Exchange: For the past three years, UK Music has surveyed British-based music performers and creators about their experiences of Brexit. The picture is still challenging and is getting worse. 32% were adversely affected by Brexit in 2024 – up 4% from 28% in 2023. Of those affected, 95% experienced a decrease in earnings in 2024 – up 8% from 87% in 2023.
To alleviate some of these issues the government has pledged a £30 million Music Growth Package. Tom Kiehl welcomes this but says:
“While it is brilliant news that the Government now acknowledges music as a high-growth sub-sector, ultimately the Government needs to be judged in terms of the progress it makes in regulating artificial intelligence and unlocking EU touring.
UK Music also aims to encourage more action to implement the Creative Industries Sector Plan, the Curriculum Review and the National Centre for Arts and Music Education, as well as the roll out of the Music Growth Package, music at the heart of the BBC Charter Renewal, business rate reviews and swift legislation for price caps on ticket resales.
The external forces inevitably have an impact on British classical music. To my mind the impact we see are to things such as the rising costs of venue hire and ticket pricing, coupled with the continual challenge of attracting audiences. In addition, the increasing difficulty of raising their awareness and getting performances of British music overseas. All of these seem to stem from many of the points raised above.
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Written by Nicholas Keyworth