Record Revenue and Tourism Surge, But Challenges Loom

The UK experienced a remarkable surge in live music tourism last year, with over 23 million fans attending concerts and festivals. This influx contributed to a record-breaking £10 billion boost to the UK economy, a 26% increase compared to the previous year. The report highlights that 4.3 million more people attended live music events, with a significant rise in overseas music tourists, reaching 1.6 million, a 62% annual increase. Taylor Swift's Eras Tour, along with major festivals, played a crucial role in driving these impressive figures.

The financial impact of live music extends beyond ticket sales, encompassing £5.1 billion spent directly by music tourists on various expenses. Indirect spending, such as on concert infrastructure, also contributed significantly, totaling £4.9 billion. While the increased attendance fueled the record spending, factors like inflation and rising ticket prices also played a role. The live music sector also supported 72,000 full-time equivalent jobs in 2024, a 16% increase from the previous year. These jobs are a vital part of the broader music ecosystem, which includes world-class studios, record labels, and other music-related businesses.

The report emphasizes the power of music to revitalize communities, create employment opportunities, and promote the UK's cultural influence globally. Supporting local music scenes is seen as a key strategy for strengthening communities and fostering national pride. Local music ecosystems stimulate the economy by increasing foot traffic, supporting hospitality and retail sectors, and creating attractive environments for residents, visitors, and investment. However, the UK music industry faces challenges, including rising touring costs, potential venue closures, and the cost-of-living crisis affecting fans.

The report also noted the closure of numerous festivals between 2019 and June 2025. Despite these challenges, the UK continues to be a major hub for live music, attracting top artists and millions of fans. The government has announced a Music Growth Package to support emerging talent and protect music venues.

The UK Music Chief Executive highlighted the significant economic benefits generated by the music industry, while also acknowledging the challenges faced by the sector. The Local Music Action Charter aims to empower local leaders to support sustained growth and enable the music industry to reach its full potential.

Local government representatives emphasized the importance of live music for local economies and community well-being. They highlighted the role of councils in supporting artists, venues, and festivals, and the positive impact of investing in local music on community pride and high street revitalization.