British music industry adds record £8bn to UK economy, according to UK Music

Taylor Swift’s Eras tour among the big events driving spending, as British artists perform well overseas and job numbers riseThe music industry contributed a record total of £8bn to the UK economy in 2024, powered in part by Taylor Swift’s Eras tour and Take That’s stadium run.According to figures in the annual report from UK Music, the umbrella organisation encompassing a range of bodies including the BPI and PRS for Music, the figure is a 5% rise from the £7.6bn contributed to UK GDP in 2023. As well as tours generating revenue through ticket sales, tourism and more, the £8bn figure also factors in revenue from recorded music, whether via sales, streaming, commercial deals and other sources. Continue reading…