UK Music unveiled its This Is Music 2021 annual report. It reveals the devastating impact of Covid-19, which wiped out 69,000 music biz jobs – one in three of the total workforce.
Launching the report, UK Music called on the Government to introduce tax incentives and other employment-boosting measures to help the sector rebuild after the pandemic. It also called for urgent action to resolve the problems facing musicians and crew touring the EU.
The huge economic contribution that music made to the UK economy in 2019 almost halved as a result of the pandemic – falling by 46% from a record £5.8 billion (GVA) in 2019 to £3.1 billion in 2020 (UK Music’s report measures the health of the music business by collating data about its contribution in goods and services to the economy – that economic contribution is known as Gross Value Added).
UK Music’s Chief Executive Jamie Njoku-Goodwin said the report provided "clear evidence" of the need for "swift Government action" to help the music industry to "continue rebuilding and return to growth post-pandemic" – we couldn't agree more. Via UK Music