Findings from the newly-published Music By Numbers report paint a clear and positive picture of the music industry’s current state. Growth, profits and employment figures have been taken into account across all sectors of the industry, the culmination of which means great news for music professionals and students entering the industry.
The new report, which was published today by industry body UK Music, features an introduction from Rt Hon Nicky Morgan, Secretary of State for Digital, Culture, Media and Sport, who gave an overview of its key findings.
- Music industry contributed £5.2 billion to the UK economy
- Live music sector contributed £1.1 billion in 2018 (up 12% from 2017)
- 190,935 people employed full-time in the UK music industry – an all-time high
- Total export revenue = £2.7 billion in 2018
- Music tourism contributed £4.5 billion to the UK economy in 2018, with overseas visitors to the UK festivals and shows rising by 10% compared to the previous year
UK Music’s Chief Executive Michael Dugher explained how the Music By Numbers report builds upon two years of statistical research and analysis.
“Music By Numbers pulls together its forerunner reports, Measuring Music and Wish You Were Here, into this new expanded and enhanced report. It reinforces once again that the British music industry is doing fantastically well. It’s vitally important to realise that we understand that the success is not down to one particular sector, but the whole industry working together to deliver a massive contribution to the nation.”
One key statistic within the report states that revenue generated by the live music industry went up by over 10% when compared to 2017, breaking the £1 billion mark and proving that festivals and other live music events are as vital as ever to the UK Music industry and wider economy.
“…A GREAT DEAL TO CELEBRATE.”
Mel Thornton, Group Head of Careers & Employability at BIMM Institute, helps facilitate BIMM students’ transition into the world of work. Naturally, Mel was delighted with the report’s findings.
“BIMM Institute would like to thank UK Music for the 2019 Music By Numbers report, which gives the music industry a great deal to celebrate. We’re given the exciting news that the industry has seen growth across the board in a variety of roles and disciplines.”
“Those who enjoy festivals, including the many BIMM students who perform and work at festivals across the UK, will be happy to hear that the live music industry is now worth over £1 billion, bringing with it a 15% increase in employment over the past three years to a record high of 45,530.”
BIMM INSTITUTE SUPPORTS THE NEEDS OF THE INDUSTRY
BIMM Institute acknowledges and understands the importance of adaptability within the music industry workforces of today, which is why our brand-new courses for 2020 are designed from the ground up with industry-led guidance to ensure our graduates are fully prepared to enter the industry.
“In terms of employability, the report highlights the importance of a flexible, entrepreneurial and multi-skilled workforce – all core BIMM graduate attributes,” said Thornton. “We continue to support UK Music in their talent pipeline campaign by investing in a brand new initiative, BIMM Talent Match, which aims to support and place students from all courses and backgrounds into jobs in the music industry.”
The Music By Numbers report proves that the UK Music industry is booming, and that BIMM Institute’s well-tuned balance of courses, work experience, festival engagement and Masterclasses are the best way for young people to prepare themselves for a career in one of the UK’s most exciting industries.
Are you interested in a career in music? Take a look at our courses page and discover which path is right for you.