Five reasons to work with the UK Music sector
1. It is a global Taste-maker
From the Beatles and Rolling Stones to Elton John, Pink Floyd and, more recently, Adele, Coldplay and Ed Sheeran, UK music acts have consistently attracted a global following. Three of the top five biggest selling artists worldwide in 2016 were British. (Source: IFPI).
The UK has also originated whole music genres from punk to dubstep and grime and continues to innovate with new ways of distributing and marketing music. This is not just a reflection of the quality and range of the musical talent that the UK spawns, but also the managerial instincts and skills of those who find them, nurture them and sell them to the world. UK music exports grew 16 per cent in 2016 to £2.5bn. (Source: Measuring Music 2017, UK Music).
2. It has world-leading expertise in live music
Glastonbury, Reading, the Isle of Wight...the UK's festival circuit has an international reputation that draws in foreign performers and musically-driven tourists, as well as domestic audiences. Outside the festival scene, the UK also has a well-established, geographically-distributed live network. Live music revenue grew by 11 per cent to £1bn in 2016. It is estimated that a total audience of 30.9m attended live music events in 2016, contributing £4bn to the economy. (Source: Wish you were here 2017, UK Music).
This global reputation helped to bring in 12.5m music tourists to the UK during 2016, and they spent an estimated £2.5bn. (Source: Wish you were here 2017, UK Music).
3. it has a diverse and entrepreneurial workforce
UK Music estimates there are approximately 142,000 employed in music occupations in 2016 - an annual increase of 19 per cent. (Source: Measuring Music 2017, UK Music) They work in an estimated 8,000 businesses (Source: Creative Blueprint.) These span music recording, distribution, marketing, post-production and other associated areas.
More than half of all music industry employees surveyed were under 44, and working in small organisations. Of these, 44 per cent were categorised as self-employed. Research by UK Music’s diversity taskforce in 2016 found the music industry workforce was 15.6 per cent BAME (Black, Asian, minority ethnic) and 45.3 per cent were women. The music industry is also one of the more geographically diverse: many of the UK's top music venues are outside London with Glasgow, Manchester, Birmingham and Bristol all home to local music scenes.
4. It collaborates across disciplines
As physical music sales have struggled − in the UK as in every other country − the music sector has diversified its revenue streams through an efficient, well-supported licensing regime and an inventive approach to commercialising music. Growth areas include brand partnerships and digital platforms.
5. It has a record of digital innovation
The UK is at the forefront of the digital music revolution with more licensed digital music services in operation in 2012 than any other market.Consumers can now choose between more than 70 services, using downloading, streaming and/or cloud-based platforms over a variety of devices.
In 2012, digital music sales overtook physical CD sales in value in the UK and an official UK download chart was launched during the year. More recently, streaming has been in the ascendant, with an estimated 65 per cent increase in the retail value of the streaming market to £418.5m in 2016. (Source: Measuring Music 2017, UK Music). Technology is also redefining how labels and artists find and foster audiences for new and existing acts. Social media, mobile and other channels are being used in ever more innovative ways to build excitement for new releases. (Source: BPI)