Concert
Concert Getty image

In 2023, the United Kingdom's live music sector reached a historic milestone by generating an impressive £6.1 billion in economic impact. This remarkable figure reflects a strong resurgence of the industry following the challenges posed by the COVID-19 pandemic.

A key factor behind this growth was a significant increase in international tours, with world-renowned artists choosing the UK as a major stop on their itineraries. Additionally, the post-pandemic period saw a surge in fan enthusiasm, as audiences eagerly returned to concerts, festivals, and live performances after years of restrictions and uncertainty.

The combination of pent-up demand, a vibrant live music scene, and strategic investment in venues and infrastructure contributed to the sector's revitalisation, firmly re-establishing the UK as a global hub for live entertainment.

Stadium Tours Drive Economic Growth

Global superstars including Beyoncé, Coldplay, and Harry Styles led some of the year's biggest tours, drawing millions of fans to UK venues. These large-scale events were key to a 17% increase in total economic impact compared to 2022.

Over 14.4 million people attended live music events, with associated spending on travel, hospitality, and retail significantly boosting local economies.

Cities Beyond London Share in the Boom

While London accounted for 30.6% of overall revenue, regional cities like Manchester, Glasgow, and Birmingham also enjoyed major financial gains.

'Live music isn't just entertainment; it's an economic powerhouse,' said UK Music CEO Jamie Njoku-Goodwin. 'It brings people together, supports thousands of jobs, and fuels local businesses.'

Sector Supports Over 200,000 Jobs

The live events industry supported an estimated 228,000 jobs across the UK in 2023, marking a near 10% increase from pre-pandemic levels. This growth signals a robust recovery for the sector.

Roles span a wide range, from venue staff and technical crews to tour operators and security personnel. This workforce is essential to the safe and smooth running of concerts and festivals nationwide.

This expansion not only showcases the sector's resilience but also underlines its broader economic and cultural importance. Live events generate revenue, create jobs, and support connected industries such as tourism, transport, and catering. The recovery and growth of this sector are having positive ripple effects on both local communities and the national economy.

Grassroots Venues Under Threat

Despite record earnings, 125 grassroots music venues closed in 2023, hit by soaring operational costs, tight margins, and limited government backing.

Trade body LIVE is urging a cut in VAT from 20% to 5% on ticket sales to safeguard smaller venues and independent promoters. They argue the current rate places an unfair burden on smaller operators.

'We're facing a crisis at the foundation of our industry,' said LIVE CEO Jon Collins. 'Urgent action is needed to preserve the spaces where artists launch their careers.'

Securing the Future of Live Music

While the headline figures are encouraging, industry leaders caution that long-term success relies on balanced investment. Sustaining both high-profile stadium events and grassroots venues is key to maintaining a healthy music ecosystem.

UK Music is calling for targeted incentives and increased funding for independent venues, which play a crucial role in nurturing emerging talent and fostering community engagement with live music.

The sector's value goes beyond entertainment, it boosts tourism, supports jobs, and reinforces cultural identity across the UK. Policymakers are being urged to recognise these wider benefits and provide support accordingly.

'Without small venues,' Njoku-Goodwin warned, 'there would be no stadium stars.'

Writer's pick
Beyonce