Highlights
- UK music contributed record £8 bn to economy in 2024, up 5 per cent from previous year.
- Exports reached £4.8 bn while employment rose to 220,000 jobs.
- Growth rate slowed significantly from double-digit increases seen in post-pandemic recovery.
The UK music industry reached a record £8 billion economic contribution in 2024, but industry leaders are warning that slowing growth and emerging challenges threaten its world-leading position.
UK Music's annual This Is Music 2025 report revealed that while the sector achieved new highs in economic value, exports, and employment, the growth rate has halved compared to recent years. The industry's Gross Value Added rose just 5 per cent in 2024, down from 13 per cent growth in 2023.
Major tours by Take That, Taylor Swift, and Bruce Springsteen helped drive the figures, alongside breakthrough success from British artists including Charli xcx's acclaimed Brat album and Lola Young's global hit Messy. Music exports climbed to £4.8 bn while total employment reached 220,000 full-time equivalent posts.
Emerging industry challenges
Tom Kiehl, UK Music's chief executive, said the slowdown signals "the need for urgent action" on multiple fronts. In recent years UK music has reported that the music industry has enjoyed double-digit annual growth. That growth has now halved, Kiehl stated. He warned that without addressing key issues, "future growth cannot be guaranteed."
The report highlighted significant challenges facing the sector. Over 90 per cent of music creators surveyed demanded protections against unauthorised use of their work by artificial intelligence systems.
Brexit's impact continues to worsen, with 32 per cent of creators affected in 2024 up from 28 per cent in 2023. Of those impacted, 95 per cent experienced decreased earnings.
Grassroots venues and emerging artists face mounting pressure, with many findings touring income failing to keep pace with costs. The artist development cycle is lengthening, making breakthrough success harder to achieve.
Foreign secretary Yvette Cooper MP praised music as "one of our greatest international success stories". The government has committed £30 m Music Growth Package over three years to support emerging talent and touring opportunities.
UK Music is calling for immediate government action on AI regulation, EU touring agreements, and support for the grassroots ecosystem to maintain Britain's competitive edge in the global music market.
