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Concerts

Record-Breaking £10bn Spend on UK Live Music Industry

Strategic Insights

— 1 min read

A wave of big-name acts and festivals including Taylor Swift's record-breaking Eras tour and Glastonbury drew a record 23.5 million music fans to the UK last year, generating a staggering £10 billion in spending across the economy. This figure includes £5.1 billion in direct spending by music tourists and £4.9 billion in indirect spending. The UK Music industry estimates that live music events created 72,000 full-time equivalent jobs in the UK last year, an increase of 10,000 from 2023.

Key Takeaways:

  • The UK live music industry attracted a record 23.5 million music tourists in 2023, an increase of 24% from 19.2 million in 2023.
  • Spending on music tourism hit a record £10 billion, up by 25% from £8 billion in 2023.
  • The Eras tour by Taylor Swift was a major contributor to the record-breaking spending, with the most commercially successful tour of all time attracting millions of fans.
  • Festivals like Glastonbury, Download, and Boardmasters also drew big crowds and generated significant revenue.
  • The north-west of England was the runner-up region in terms of visitor numbers and revenue, with 3.3 million visitors and £1.2 billion in revenue.
  • The industry supported 72,000 full-time equivalent jobs, an increase of 10,000 from 2023.
  • However, the report highlights the increasing pressure on the industry, with 250 festivals ceasing to operate between 2019 and June this year.

Statistics:

  • 23.5 million music tourists attended concerts and festivals in the UK in 2023.
  • £10 billion in spending on music tourism, including £5.1 billion in direct spending and £4.9 billion in indirect spending.
  • 93% of music tourists were UK-based, with 1.6 million being overseas visitors.
  • 62% annual increase in overseas music tourists.
  • £1 billion expected to be spent on the Oasis reunion tour this year.
  • £766 average spent per person on the Oasis reunion tour.
  • 7.5 million music fans drew to London, which accounted for £2.7 billion of the total £10 billion in revenues.
  • The north-west of England had 3.3 million visitors and £1.2 billion in revenue.
  • The south-west of England had 2.5 million music tourists and £1.1 billion in revenue.

Sources:

  • UK Music - Hometown Glory Report
  • BBC News - "Record £10bn spent on live music in UK, says UK Music"

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