Last year, the UK music industry added £ 5.8 billion to the economy, however, according to a new survey, the coronavirus pandemic had ruinous consequences.
Along with Ed Sheeran, Stormzy, Dua Lipa and George Ezra, Scottish music star Lewis Capaldi was among the musicians named to help the industry continue to expand in 2019.
The statistics were presented in the annual report of the industry association, titled “Music By Numbers 2020,” which looked at last year’s 12 months ended Dec. 31.
The pandemic has since been devastating, with laws of lockdown and social distancing all but wiping out live music and shutting venues nationwide.
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The study says that musicians rely “heavily” on live performances for their income: “Overall, over 65 percent of music creators’ income will be lost as a direct result of Covid-19, and this could extend to over 80 percent for those most reliant on live performances.”
According to UK Music, the sector now faces a “marathon effort to get back on its feet while striving to return to pre-Covid levels of success as quickly as possible,”
Jamie Njoku-Goodwin, Chief Executive Officer, said, “2019 has been a fantastic year for the UK music industry and we are firmly on track to be one of the next decade’s great UK success stories.”
Music By Numbers 2020 illustrates just how good our industry was before it was knocked down by the devastating blow of Covid-19, and how important it is that we get it back on its feet.
“When it’s time to recover from this pandemic, our world-leading music industry can be an important part of our country’s post-Covid economic and cultural revival – but we need the right support to get there.”
Caroline Dinenage, Minister of Digital and Culture, said, “We know what an immensely tough year 2020 has been for the music industry, as a result of Covid-19, which has presented the sector with enormous challenges.”
“That’s why the government has stepped in with an unprecedented £1.57 billion Cultural Recovery Fund to help the sector weather the impact of the coronavirus and protect music events, festivals and our vital cultural assets.”