The U.K. music industry grew 11% in 2019 to contribute £5.8b to the British economy with export revenues up 9% to £2.9b, according to UK Music’s annual report.
The annual economic study, Music by Numbers 2020, showed that the music industry continued to grow in 2019 across every sector before the COVID-19-enforced shutdown hit in early 2020. That’s thanks in part to the success of homegrown talents like Ed Sheeran, Stormzy, Dua Lipa, George Ezra, Lewis Capaldi, Mabel and Dave.
The live industry recorded the biggest growth, up 17% on 2018 to count for a 22% share of the £5.8b pie at £1.3b. Revenue earned by music creators counted for the biggest slice overall (47%), rising 7% to £2.7b. That’s followed by recorded music, up 9% to £613m or an 11% share, music publishing (up 14% to £524m or 9%), music retail (up 15% to £463m or 8%) and music representatives, like managers, accountants and lawyers (up 15% to £170m or 3%).
UK Music Chief Executive Jamie Njoku-Goodwin celebrated 2019’s results but outlined the need for further support in order for the business to return to its former glory post-COVID. “2019 was a fantastic year for the U.K. music industry, and we were firmly on track to be one of the great British success stories of the coming decade,” he said.
