'Rocketing costs' put recovery of British music sector at risk, says report
The Guardian|September 22, 2022
The multibillion-pound UK music industry remains almost a third smaller than before the pandemic as rampant inflation, soaring costs and Brexit red tape threaten to derail its fragile recovery, a report warns.
Mark Sweney
'Rocketing costs' put recovery of British music sector at risk, says report

UK Music, the umbrella body representing the industry from artists and record labels to the live performance sector, is calling for a package of support including tax relief, a VAT cut for struggling venues and a streamlining of restrictions affecting touring between Europe and the UK.

The organisation's annual Music by Numbers report, which spans topics including music sales and licensing, stadium tours, gigs in grassroots venues and merchandise, found the industry's contribution to the UK economy rose 26% year-on-year to £4bn in 2021. However, this remains 31% down on the record £5.8bn in 2019.

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