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2012 Music Worth £3.5bn To UK Economy

UK Music Report Cover

Recently figures released by UK Music have reported that, across all areas of the industry, during 2012 the UK Music Industry was worth £3.5bn to the economy, with 40% of this resulting from export.


For those who are confused, these figures represent the Gross Value Added (GVA) annual contribution of the entire UK music industry. Simply put, £3.5bn is the grand total of all revenues, from final sales and (net) subsidies, which are incomes into businesses, and covers expenses (wages & salaries, dividends), savings (profits, depreciation), and (indirect) taxes.


Although its contribution is down by £300m from 2011, if we compare this negative 7.9% shift to larger losses from previous years, it does show us that the market is stabilising and making a positive impact on the UK’s recovering economy.


If we break down this figure into each sector we see that ‘Musicians, Composers, Songwriters, and Lyricists’ have come on top from generating £1.6bn, next it is the ‘Live Music’ industry with a huge £662m contribution, surprisingly in third place is ‘Recorded Music’ with a £634m injection, fourth is ‘Music Publishing’ with £402m, next up ‘Music Representatives’ have totaled £151m, finally, and quite shocking, ‘Music Producers, Recording Studios, and Staff’ have added £80m to the economy.


Edd Harris

Recently figures released by UK Music have reported that, across all areas of the industry, during 2012 the UK Music Industry was worth £3.5bn to the economy...

Edd Harris - 1st January 2014

Article Ref: #2012MusicWorth3.5bn