UK Music has unveiled its latest report This Is Music 2021.
This report has uncovered the devastation COVID inflicted on the music sector in 2020, and set out the urgent work needed to support the recovery.
Key findings include:
- Employment plunged by 35% from 197,000 in 2019 to 128,000 in 2020.
- Music industry’s economic contribution fell 46% from £5.8bn to £3.1bn in 2020.
- Music exports dropped 23% from £2.9 billion in 2019 to £2.3 billion in 2020.
UK Music Chief Executive Jamie Njoku-Goodwin said:
“The past 18 months have been exceptionally challenging for the UK music industry, with billions wiped off the value of the sector – but we are determined to look to the future and focus on recovery.”
In response to these alarming figures UK Music is calling for urgent action and for the Government to implement:
- Tax incentives for the music…
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