Best answer: How much is the UK music industry worth?

How much is the UK music industry worth 2020?

For global revenue figures, see IFPI’s Global Music Report 2021 here. The BPI, the association of independent and major record labels, today reports that UK recorded music revenue1 rose by 3.8% in 2020 to reach £1.118 billion.

How much money did the UK music industry make 2019?

The UK music industry contributed £5.8 billion to the UK economy in 2019 – up 11% from £5.2 billion in 2018. Employment in the industry hit an all-time high of 197,168 in 2019 – an increase of 3% from 190,935 in 2018.

How much is the music industry worth 2020?

In 2020, the total revenue of the recorded music industry amounted to 23.1 billion U.S. dollars. Streaming made up 56 percent of this figure, bringing in 11.9 billion dollars globally.

How much does the music industry make a year UK?

The key facts in Music By Numbers 2019 include: The UK music industry contributed £5.2 billion to the UK economy in 2018. The Live Music sector made contribution of £1.1 billion in 2018 – up 10% from £991 million in 2017. Employment in the industry hit an all-time high of 190,935 in 2018.

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How many people work in UK music industry?

The music industry’s workforce dropped from 197,000 to 128,000 in 2020 after growing for the preceding decade, it said. UK Music could not say how many of those jobs have returned in 2021, with most venues now back open after restrictions were lifted.

Does music help economy?

Music drives economic value

It fuels job creation, economic growth, tourism development and artistic growth, and strengthens a city’s brand. A strong music community also attracts highly skilled young workers in all sectors for whom quality of life is a priority.

What percentage of UK GDP is music industry?

Revealing that the UK music industry contributed £5.8 billion to the UK economy in 2019 (up 11% from £5.2 billion in 2018), the report, which only covers the period up to December 31st, 2019, leads with a call for urgent support to help revive “our world-leading music industry” following the “catastrophic blow” that …

How much is the music industry worth 2021?

On a retail basis, recorded music revenues in the US (money spent on streaming subscriptions, as well as physical and digital music), grew $1.5 billion or 27% year-on-year, to $7.1 billion in H1 2021 (from $5.6 billion in H1 2020).

How many musicians are in the UK?

Data on the total number of employed and self-employed musicians in the United Kingdom (UK) from 2011 to 2020 shows that as of 2020, there were 45 thousand musicians in employment in the United Kingdom.

Who dominates the music industry?

Currently, the music industry is dominated by the so-called Big Four: Sony Music Entertainment, EMI, Universal Music Group, and Warner Music Group. The Big Four control over 85 percent of the U.S. recording music industry (Copynot).

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Who owns most of the music industry?

Nielsen SoundScan in their 2011 report noted that the “big four” controlled about 88% of the market:

  • Universal Music Group (USA based) — 29.85%
  • Sony Music Entertainment (USA based) — 29.29%
  • Warner Music Group (USA based) — 19.13%
  • EMI Group — 9.62%
  • Independent labels — 12.11%

Who is Spotify owned by?

By Daniel Ek. Daniel is the Founder and CEO of Spotify, where he sets the company’s overall vision. He was born and raised in Stockholm, where he founded Spotify in 2006.