The COVID-19 pandemic has wiped out 69k jobs in the British music industry, one-third of the workforce, according to a new report from trade body UK Music. Economic contribution fell by 46% last year.
This Is Music 2021 reveals that employment in music plunged 35% from 197k in 2019 to 128k in 2020. Sectors most affected were music creators (down 40%) and live music (down 35%).
In addition, the U.K. music industry’s economic contribution fell to £3.1b (GVA) from £5.8b, while music exports dropped 23% to £2.3b from £2.9b YOY.
“In a year when we’ve seen just how important music is to all our lives, it’s more important than ever that we take the necessary steps to protect, strengthen and grow the industry,” UK Music Chief Executive Jamie Njoku-Goodwin said in calling for swift government action to help the industry return to growth post-pandemic.
The org is asking for:
BILL'S PASSAGE COULD RESULT IN U.S. TIKTOK BAN
Meanwhile, on Capitol Hill... (4/20a)
BLACKSTONE ASSEMBLING $1.5B BID FOR HIPGNOSIS SONGS FUND
A white-knuckle moment (4/20a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|