Live music in UK hits record economic impact of £6.1billion

nme.com:

published their findings yesterday (September 4), demonstrating a steady increase since Covid hit in 2020. They reported that the £6.1billion figure is 17 per cent up on 2022, and 35 per cent up on 2019.The federation calculated the figure from more than 55,000 gigs, concerts, festivals and events in 2023 through ticket sales and any spending at the event itself, or at business nearby around the date the event was held.Concert revenues have primarly contributed to this growth thanks to the blockbuster tours of acts like Beyoncé and Coldplay, which apparently made up almost three quarters of the £6.1billion impact.Additionally, London was responsible for nearly a third of the total live music revenue, with Manchester landing in second place with 7.4 per cent and Glasgow in third place (5.5 per cent).Meanwhile, Edinburgh, Birmingham, Cardiff and Belfast were all named in the top 10 cities contributing to the live industry’s economic impact.In a comment to The Guardian, CEO of LIVE Jon Collins said Taylor Swift’s Eras tour and the Oasis reunion tour “serves as a reminder of the economic benefits live events can deliver to local economies across the UK”.He went on to cite figures from the National Arenas Association demonstrating how for 10,000 people who attend a live music show, £1m is spent on local business around the event, adding: “These local benefits spread widely to provide a significant boost to the UK economy.”With the cost of living crisis impacting live venues and artists’ abilities to tour, a case was made for a £1 ticket levy last April following a Music Venue Trust report showing a “disaster” facing grassroots music venues.