The UK music industry’s economic contribution fell by a record 46 percent in 2020
A new report from UK Music has revealed that one in three music industry jobs have been lost as a result of the coronavirus pandemic.
The trade body, which represents the collective voice of the UK music industry, has made clear conclusions in its newly published annual report, it’s music 2021.
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According to the report, 69,000 jobs in the UK music industry have been lost during the pandemic, a 35 per cent drop in employment figures in 2020.
Other findings include how the UK music industry’s economic contribution fell by a record 46 per cent in 2020 (from £5.8bn to £3.1bn), while music exports declined by 23 per cent last year (from £2.9bn in 2019). £2.3 billion).
Live music revenue in the UK fell by nearly 90 per cent in 2020, with the coronavirus-enforced shutdown of live music forcing many musicians and those working in both venues and studios to go without work.
The report also noted how many self-employed workers in the music industry were unable to receive support from the UK government because “many were not eligible”.
“This has resulted in thousands of music producers, crew and others leaving the industry for other sectors,” the report said. “Many are still committed to careers in music, but the necessity means finding alternative sources of income.”
UK Music chief executive Jamie Nojoku-Goodwin said it’s music 2021 provided clear evidence that prompt government action is needed to help the music industry rebuild and return to growth after the pandemic.
UK Music has also identified five key areas where it believes government action can help: providing tax incentives for the music industry to encourage growth and jobs, touring the EU. To take immediate action to remove the bottlenecks, to implement a permanent reduction on the VAT rate. Live concert tickets provide more funding and support for music exports, and promote funding for music education and self-employment.
“The past 18 months have been exceptionally challenging for the UK music industry, with billions eroding the value of the sector – but we are determined to look to the future and focus on recovery,” Njoku-Goodwin said.
“Music matters to all of us. And in a year since we’ve seen how important music is to all of our lives, it’s more important than ever that we take the necessary steps to protect, strengthen and grow the industry.” .
in an introduction it’s music 2021Culture Secretary Nadine Dorries said the music industry has “shown a lot of strength, patience and resilience during these difficult times, pulling together to help the entire country recover from the COVID-19 crisis”.
“So far, our focus has been on rescue and reopening. The priority now is to ensure a strong recovery. The UK music industry is one of our country’s great national assets, and I make my commitment that the government will continue to support it every step of the way.
Meanwhile, a recent report by the Night Time Industries Association found that around 90,000 jobs have been lost in the UK’s nightlife sector due to the pandemic.